Auditchain Announces Mainnet Launch and Bounty Campaign
Help launch the world’s first Web3 financial disclosure infrastructure!
Each participant can earn up to an additional 1,600 AUDT for participating in the launch of the Auditchain Protocol!
The Auditchain Protocol is in preparations to launch on 8 June. The bounty campaign includes testing various aspects of the functionality of the Pacioli Logic and Reasoning Engine, the financial report, and Process Control NFT validating node on the Auditchain Protocol. The bounty campaign will include but will not be limited to the testing of security, load balancing, functionality, user experience and hardware performance.
Participants in the bounty campaign must ENTER HERE. You must perform the first few tasks during the bounty dashboard session. You should be experienced with server and Docker environments.
Terms and Conditions for participation are stated below. Applicants will be provided with additional instructions to perform procedures during testing and Mainnet production.
WHAT IS A PACIOLI NODE AND HOW DOES IT WORK?
The Pacioli Logic and Reasoning Engine is the infrastructure client and validating node on the Auditchain Protocol. It is built on top of Prolog and node.js.
Pacioli leverages the eXtensible Business Reporting Language, (“XBRL”) which is a machine-readable and machine-understandable global standard syntax that is mandated in 50+ regulatory jurisdictions for the articulation and filing of financial statement disclosure.
XBRL is the standard language and dialect of all major regulatory jurisdictions.
Pacioli nodes are Web3 compliant and can be operated by anyone on the Auditchain Protocol using standard server environments.
Pacioli searches for validation requests on the Auditchain Protocol. When a validation request is detected, it races to compete with other nodes on the Auditchain Protocol to fulfil requests for validation of financial statements and Process Control NFTs. The winner of the race receives AUDT for competing and fulfilling the validation. The losing nodes corroborate the findings of the winning validator.
Winning a validation is highly dependent on hardware performance and configuration.
Hardware Requirements:
· 4GB RAM
· 50GB Memory
Software Requirements:
Docker Composer Compatible Server, Preferably UNIX
Staking and Delegation
A minimum of 5,000 AUDT must be staked to operate a Pacioli Node on the Auditchain Protocol. Node operators earn two forms of income for operating a node: APY and a reward for winning a validation request.
PROCESS CONTROL NFT VALIDATION
Pacioli is purpose built to validate the functional objectives of accounting, financial reporting, audit and analysis process controls that are created by accountants and other business professionals. When a control has been proven to work correctly through validation by the Pacioli Nodes, the creator can claim ownership of the process control in the form of a Process Control NFT. Each time the Process Control NFT is used, the creator and the winning validator receive a royalty.
FINANCIAL STATEMENT VALIDATION
Financial statements are composed using a growing library of Process Control NFTs. Pacioli validates financial statements to determine if they comply with the following categories of rules and process controls:
· XBRL Syntax (Standard Physical Technical Syntax)
· Report Model Structure (Report Logical Structure)
· Report Mathematics (Consistency of Report Computation)
· Line-Item Relationships (Type-Subtype Relations)
· Fundamental Accounting Concepts (Consistency and Compliance with Accounting Rules)
· Disclosure Mechanics (Appropriateness of Disclosure Representation)
· Reporting Checklist (Completeness of Reported Disclosures)
SCOPE OF ACTIVITIES
The following aspects will be included in the scope of the bounty campaign:
· Security
· Hardware Performance
· Bandwidth Performance
· Caching Function and Performance
· Load Balancing
· User Experience
· Front End Functionality and Responsiveness
Each participant will be required to perform the following procedures:
Installation of Pacioli — CLICK HERE for Installation Manual
Submission of “as filed” financial statements using the Data Subscriber Role –
You will be paid a bounty for participating in this pilot and completing certain tasks in the test phase and also in Mainnet production in accordance with the terms and conditions below.
TERMS AND CONDITIONS OF BOUNTY CAMPAIGN
The following bounties will be paid to participants for performing the following tasks:
1. 200 AUDT will be paid for completing the test phase. The test phase includes providing feedback during the testing period in the Telegram Testing channel.
a. You must also join the Official Telegram channel.
b. Follow us on Twitter.
c. Join our SubReddit
d. Clap for this Blog post
2. 100 AUDT will be paid for each referral who participates and complies with these terms and conditions.
3. An additional 300 AUDT will be paid for being in the first launch cohort and REMAINING in Mainnet production as a Pacioli Node operator for a minimum of 30 days. Participation in testing in item 1 above is a requirement.
4. An additional 400 AUDT will be paid for remaining in Mainnet production for an additional 30-day period. Participation in testing in item 1 above is a requirement.
5. An additional 500 AUDT will be paid for remaining in Mainnet production for an additional 30-day period. Participation in testing in item 1 above is a requirement.
All participants must participate and remain active on a continuous basis during the test phase and during each 30-day Mainnet production period to be eligible for the bounty. The bounty will be settled within 30 days following the end of your participation.
About Auditchain Labs AG
Auditchain Labs AG (https://auditchain.finance ) is leading the development of the world’s first decentralized accounting, audit, financial reporting and analysis virtual machine that automates and provides proof of assurance on the world’s business and financial information. Auditchain Labs AG is a founding member of the DCARPE Alliance Association and is leading the development of the Auditchain Protocol with other members of the Alliance.
Discord | Twitter | Telegram | LinkedIn | Facebook | Reddit | YouTube
About DCARPE Alliance Association
The DCARPE Alliance Association is a global organisation consisting of members of the accounting, audit, financial reporting, legal, blockchain, investment, standard setter and regulatory community. The purpose of the Alliance is to adopt standards, provide education, drive technology innovation and promote the adoption of continuous audit and real time digital financial reporting using the Auditchain Protocol.
