⚡️ Arbitrum Foundation plans to allocate $14 million in $ARB to subsidize security audits for network projects
The Arbitrum Foundation announced plans to allocate $14 million worth of ARB -3.12%
tokens to a security audit subsidy program, supporting blockchain projects that build on its network, following the approval of a proposal by ArbitrumDAO.
The initiative, known as the Arbitrum Audit Program, is set to allocate 30 million ARB tokens ($14 million) over 12 months to subsidize smart contract audits.
The program aims to assist projects that are either early-stage with demonstrated product-market fit or established teams planning notable upgrades or new deployments. The goal is to ease the financial burden of security audits, a cost that often prevents smaller projects from accessing proper security assurances.
An oversight committee composed of representatives from the Arbitrum Foundation, core developer Offchain Labs, and a DAO-elected technical expert will administer the program. Approved projects will be required to use audit firms selected from a pre-approved whitelist, which is expected to be announced later this week.
Arbitrum is a suite of Ethereum scaling solutions that includes Arbitrum One, a Layer 2 network offering low-cost transactions secured by the Ethereum blockchain.
The broader Arbitrum ecosystem includes tools like Orbit, which enables customizable, interconnected chains, and Stylus, which expands developer capabilities with support for programming languages such as Rust and C++.