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Cyfrin proposed a $2 million Arbitrum Security Enhancement Fund to subsidize security audits for projects on Arbitrum, with positive community feedback but concerns about centralization; Cyfrin withdrew the proposal for a consolidated RFP security process. The community is now engaging in consultations for the new RFP process, with a focus group meeting scheduled for November 7th.
The discussion revolves around a proposal by Cyfrin to create an Arbitrum Security Enhancement Fund with a budget of $2 million. The fund is designed to sponsor security audits for projects built on the Arbitrum ecosystem. Cyfrin, with a strong background in smart contract security and developer relations, introduced the Diverge-Converge Multi-Phase Model, which involves comprehensive auditing phases to enhance protocol security. The fund would cover up to 60% of audit costs, with the project requesting the audit paying the remainder. An Allocation Committee, consisting of members from both Arbitrum and Cyfrin, would be established to manage the application process and review applications. The proposal also includes financial management strategies, such as quarterly reimbursements to the DAO if the minimum capital isn't spent, and publishing quarterly financial reports for transparency.
The community's reaction to the proposal has been largely positive, with several members expressing support for the initiative. Notable community members like PatrickAlphaC, Juliettech, Uba081, DisruptionJoe, ChainLinkGod, Lunaman, and StargateGavin have shown enthusiasm for the proposal's potential to enhance security and adoption within the Arbitrum ecosystem. However, there were concerns raised by Pedrob about the risks of centralization and the potential for creating an auditing monopoly. Dk3 proposed a new RFP process for security services projects, which led to Cyfrin withdrawing their proposal in favor of a consolidated approach to security.
Posted a month ago
Last reply 24 days ago
Summary updated 10 days ago
Last updated 04/12 00:18