MetisDAO

Proposal Overview

This proposal seeks to approve Metis’ participation and contribution to the upcoming audit on Code4rena, which will take place from July 16th to July 30th. The audit focuses on the fraud proofs implementation by Optimism, which Metis plans to adopt with certain adjustments. This initiative involves several prominent contributors and aims to ensure the robustness and security of the fraud proofs implementation.

Background

• Audit Timeline: July 16th - July 30th on Code4rena.
• Scope: Includes fraud proofs implementation by Optimism.
• Adoption Plan: Metis plans to use the Optimism fraud proof implementation with specific adjustments.

Audit Participants

Top-tier auditors and researchers will be involved in this audit, ensuring high-quality evaluations and insights. Notable participants include:

• Judging and Organization: Zach Obront
• Guaranteed Participation: samczsun, Riley Holterhus, Leastwood, and MiloTruck

This elite group of auditors will compete for a side pool that accompanies the public audit pool, enhancing the thoroughness and rigor of the audit process.

Financial Contributions

Several entities have committed to contributing funds to support the audit:

• Base, Frax, Mode Network, and Conduit: Each committed 15K USDC.
• Optimism: Gold sponsor with 200K OP tokens.

Proposal Details

Contribution Amount: METIS tokens equivalent to 15K USD

Purpose: To match the contributions made by OP rollups and demonstrate our commitment to this collaborative effort, we propose that Metis contributes METIS tokens equivalent to 15K USD.

Benefits to Metis:

• Enhanced Security: Leveraging the expertise of top-tier auditors ensures the security and robustness of the fraud proofs implementation.
• Collaborative Growth: Participating alongside prominent players in the ecosystem fosters collaboration and innovation.
• Community Trust: Demonstrating commitment to security and transparency strengthens trust within the Metis community and the broader DeFi space.

Call to Action

We invite the Metis community to review and support this proposal. By contributing METIS tokens equivalent to 15K USD, we can ensure our participation in this crucial audit, enhance our security measures, and continue driving innovation within the Metis ecosystem.

Your participation is vital to the success and security of the Metis ecosystem. Thank you for your engagement and support.

About Code4rena

Code4rena is a DAO for web3 security. They run community-driven contests for smart contract audits where everyone—auditors, developers—plays their role together in the arena. The ultimate goal is to level up smart contract security while reducing the pressure and burden on individual people.

Useful links: https://code4rena.com/ https://x.com/code4rena/status/1803883070568956106 https://code4rena.com/audits/2024-07-optimism-superchain