Summary: Establish a yearly budget of $500,000 to be used for smart contract audits, and an additional $100,000 to reimburse Zeus for the v2 migration audit.
Background: Olympus smart contracts team is working on a number of systems, and must assure security for these systems. Audits are expensive but must be paid for, and with higher budgets, we can get better auditors for our code. This budget would be used for covering past audits with yAcademy, along with future audits with different firms, such as Spearbit, Code4rena, and others. If further funding is needed, it is to be approved by another OIP.
This OIP is also to reimburse Zeus for his payment to Omniscia of $115,000. This was detailed in the RFC https://forum.olympusdao.finance/d/1179-rfc-audit-recompensation/3.
All costs will be reported on in the quarterly report from the DAO.
- Approve Olympus to budget $500,000 a year on security audits for smart contracts
- Recomp Zeus for $115k for Omniscia audit