Non-Constitutional AIP: Arbitrum Security Enhancement Fund

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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.

What is this about?

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.

How is the community reacting?

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.

Why this is positive?

  • The fund aims to enhance the security of the Arbitrum ecosystem, which is crucial for mainstream adoption of Web3 technologies.
  • Cyfrin's expertise in conducting various types of audits could significantly reduce the risk of security vulnerabilities.
  • The proposal includes a commitment to transparency and accountability through quarterly financial reports.
  • The initiative could attract more projects to the Arbitrum ecosystem by promoting the fund as a reason to choose Arbitrum.
  • The proposal has been developed with input from various industry experts and has undergone several feedback rounds.

Why this is negative?

  • Pedrob raised concerns about the potential for creating an auditing monopoly and the risks of centralization.
  • There are uncertainties regarding the quality of Cyfrin's audits and the competitiveness of the budget, as noted by Krst from L2BEAT's governance team.

Next actions

  • Cyfrin has withdrawn their proposal in support of DK's proposal to consolidate security proposals into the RFP process.
  • The community is encouraged to participate in the open consultation period for the new RFP process, ending on November 17th.
  • A focus group will discuss the RFP process during the Delegate Workshop on November 7th.

Posted a month ago

Last reply 24 days ago

Summary updated 10 days ago

Last updated 04/12 00:18