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Sherlock has proposed a $4M Ecosystem Security Fund to provide discounted security audits for the Arbitrum blockchain, with an Audit Council overseeing the process and a focus on attracting top security talent. The community has mixed reactions, with some concerns about transparency and suggestions for Sherlock to contribute funds, but there's a strong movement towards consolidating security proposals into an RFP process, which Sherlock now supports.
Sherlock, a security audit company for protocols on the Arbitrum blockchain, has proposed the creation of an Ecosystem Security Fund with a budget of $4M. The fund aims to provide reduced-cost audits for Arbitrum protocols, thereby enhancing the security of the Arbitrum ecosystem and encouraging new teams to build on Arbitrum. The proposal includes the formation of an Audit Council to manage the fund and determine eligibility for discounted audits. Sherlock's audit model combines traditional audits with audit contests and involves a decentralized judging process. The company has a track record of identifying critical vulnerabilities and has conducted 47 audits in the past year.
The community has shown a mix of support and concern for the proposal. Key points from the community include:
We have not been able to determine whether this will be negative.
Posted a month ago
Last reply 24 days ago
Summary updated 10 days ago
Last updated 04/12 00:18