Beanstalk Farms Budget

Proposer

guy and Silo Chad

Summary

Hire Cyfrin to perform an end-to-end code audit on Wells, Pumps and Aquifer. Use ~32,000 Beans from the Audit Fund to pay for the audit, subject to changes based on the scope of Pumps and Aquifer.

Auditor

Beanstalk Farms has connected with Cyfrin, an audit firm started by Patrick Collins, a smart contract engineer and educator who is familiar with Beanstalk.

Members of the Cyfrin team are responsible for creating two of the most watched Solidity YouTube tutorials of all time, billion dollar DeFi integrations, security content, and more.

One of the Cyfrin auditors staffed on Wells is currently the #1 ranked auditor on Code4rena.

Incentive Alignment

Cyfrin has agreed to be compensated in Beans and verbally expressed intent to retain long-term Bean exposure with their payment for the Wells audit. This is a healthy setup that creates mutual interest in the success of Beanstalk.

Payment

Cyfrin began their audit of the core Wells code on Monday, February 6, 2023. Beanstalk Farms expects to deliver a final commit hash for Pumps and Aquifer next week. Beanstalk Farms sent Cyfrin a 10,000 Bean upfront deposit to kickoff the audit before BIP-33 passed.

The total quote (pending review of the final Pumps and Aquifer commit hash) is 40,000 USD, which Cyfrin will accept in Beans based on the Bean price at the time of payment.

For example, if the Bean price at the time of payment is $0.9428, given that Beanstalk Farms has already paid 10,000 Beans, the payment sent to Cyfrin upon passage of this BFBP would be 32,426.81 Beans.

(40,000 / .9428) - 10,000 = 32,426.81