AADAO Oversight - Elected Member Updates & Reports

Conversation AADAO
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December 19, 2024

Updates

Security Audits - Zellic

Summary:
AADAO has authorized a $440,000 grant to Zellic for a comprehensive two-year auditing engagement. This represents the organization’s largest grant to date.

Background & Rationale:
The current audit procurement process, requiring is inefficient and cost-intensive. The grants team consulted oversight prior to initializing the RFP process – oversight was supportive of a consolidated approach that mitigates friction and inefficiencies.

Scope of Work:
The 24-month service agreement encompasses:

  1. Comprehensive security audits of Gaia updates and new features
  2. Strategic review of critical dependencies, including:
    • CosmWasm
    • Cosmos SDK
    • Comet BFT

This grant remediates previous ad hoc governance proposal system with a structured, long-term security audit framework, ensuring consistent oversight of critical infrastructure components.

Transparency Report #10

To be delivered Wednesday, January 8th, 2025

Oversight Committee Recruitment Status

Summary:
The candidate evaluation process for two roles—Oversight Committee Member (unelected) and Financial Controller—was finalized on December 13, 2024.

Recruitment Process Overview:

  • Oversight Member:
    • 6 applications received
    • 3 candidates shortlisted
    • 3 candidates interviewed
  • Financial Controller:
    • 48 applications received
    • 3 candidates shortlisted
    • 1 candidate interviewed

Assessment Methodology:
Candidates were evaluated through a structured, four-tier process utilizing a scoring rubric:

  1. CV Review
  2. Statement of Interest
  3. Interviews
  4. Written Assignment

Current Status:

  • Final assessments were completed on Monday, December 16, 2024.
  • Evaluations were conducted by Mark Dencker (Grants Lead & StratComm Member) and myself.
  • Top-scoring candidates for both roles have been submitted to StratComm for consideration.
  • Pending StratComm approval, formal offers will require a full team vote (eligible core team members vote; oversight members are excluded).
  • Scoring Summary:
    • Oversight Committee Member (unelected): 96/100 and 85/100
    • Financial Controller: 70/100 and 77/100

Next Steps:

  • Following StratComm’s approval of the recommended candidates, AADAO will extend formal offers.
  • Offers will be contingent upon the outcome of the full team vote.

AADAO Documentation/Information Preservation

Raised the importance of preserving critical documentation and intellectual property beyond the conclusion of AADAO’s active mandate. The team has agreed to establish a centralized repository to securely maintain all essential information related to key activities and initiatives: grants, ventures.

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