1. Smart contracts are provided to the audit team for initial analysis.
2. The audit team presents their findings to the project for them to act upon.
3. The project team makes changes based on the issues found.
4. The audit team releases their final report, considering any new changes or outstanding errors.
For many crypto users, smart contract audits are essential when investing in new DeFi projects. It’s become a standard for projects that want to be taken seriously. Certain audit providers are also seen as industry leaders, making their audits more valuable in investors’ eyes.