AI summary
This proposal seeks to establish an Arbitrum Audit Program to help early-stage projects launching on Arbitrum pay for security audits of their smart contracts. Audits are expensive but crucial for security, and this program would provide subsidies (grants or investments) to eligible projects for one year or until funds are depleted. An Arbitrum Audit Committee, including members from the Arbitrum Foundation (AF), OpenZeppelin (OCL), and a DAO-elected technical expert, would oversee the program and approve auditors.
If passed, this proposal would allocate an unspecified amount of treasury funds to subsidize audits for new projects, potentially increasing the security and growth of the Arbitrum ecosystem. Early-stage projects would benefit from financial assistance for essential security measures, while the Arbitrum DAO would gain a more secure and robust network. The specific financial impact on the treasury cannot be determined as no dollar amount is mentioned.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Summary:
- Run an on-going open application for 1 year to support projects that require a subsidy to audit their project,
- Approve a list of auditors into the program and also invite auditing firms from the ADPC’s Security Subsidy Fund to apply for the program.
- Arbitrum Audit Committee will include membership of AF, OCL and a technical expert elected by the DAO
Abstract
It is industry standard and recommended practice that all projects with on-chain smart contracts undergo at least one third party audit. This is because smart contracts can potentially secure millions, if not billions …