May 6, 2021. At 6 PM EST, Certik auditors held a joint AMA with Hoge Finance, celebrating the successful audit security score of 92, making it a top 50 project on the Certik leaderboard.
Chief Technology Officer Dr. Joseph “Hogeman” Niehaus fielded questions along with a yet-to-be-revealed partner that he’s worked closely with going by the name Hunter “Wiser”. The team discussed the origins of the coin, its community-centered ambitions, and elaborated on the notes in the Certik audit.
As an ERC-20 token, Hoge is built on and secured by the proof of work Ethereum network. Once upgraded to proof of stake, ETH 2.0 will be far more energy efficient and transaction costs will be drastically reduced. However, the participants noted that this upgrade has been delayed many times already and the exact timetable remains uncertain.
Unlike most crypto projects, Hoge was not made to solve a blockchain-related technical problem. Instead it is a tool for building a community, organizing charitable efforts, and leveraging decentralized finance capabilities for ecommerce. Viral growth has been achieved through organic social media channels to a degree that surprises even the Hoge Finance team.
The Certik audit did raise one question regarding the only capability the Hoge team possesses over the code: whitelisting and blacklisting certain wallets to receive distribution rewards. Dr. Niehaus explained the ability exists in order to shut off rewards to centralized exchanges that do not want them because they are not equipped to airdrop tokens to their account holders. This ability is only available through multisig authentication by all the trusted parties on the small Hoge Core team, which is standard practice for these types of capabilities.
Beyond that, the code is set in stone and unchangeable.
With regard to community decisions, the team envisions being able to step back and let the Decentralized Automated Organization (DAO) govern. This will be done through a hybrid model. The Hoge Finance company enjoys legal recognition, but is contractually obligated under its charter to enact the will of the community as expressed through the DAO. For more detailed information regarding the security audit, AMA, or information about the token, please see the links below.
Security Score: https://www.certik.org/projects/hogefinance
Certik-Hoge AMA: https://youtu.be/u8D8UDB8tFM
Hoge Twitter: https://twitter.com/HogeFinance
Certik Twitter: https://twitter.com/certikorg