The Ethereum Foundation has launched a $1 million security subsidy program designed to help blockchain developers offset the high costs of smart contract audits.
Partnering with digital asset advisory firm Areta, the foundation will utilize Areta's audit marketplace to connect developers with more than 20 professional security firms, including Blocksec, Quantstamp, and Immunefi.
According to a statement posted on X, the foundation aims to make security audits more accessible to strengthen the broader Ethereum ecosystem.
Program structure and selection
Selected projects can receive funding to cover up to 30% of their audit expenses. The program will release new cohorts of funded projects every month.
Blockchain data startup Chainlink and the execution client team at Nethermind will assist in vetting applicants. The foundation will prioritize projects that demonstrate technical merit, innovation, and a commitment to the network's core values.
Specifically, the program targets developers focused on censorship resistance, open source, privacy, and security—collectively referred to by the foundation as 'CROPs.'
Areta Market CEO Fin Boothroyd stated that the program is anchored by an expert committee featuring leading figures from organizations with deep Ethereum expertise.
This initiative follows the foundation's 'Trillion-Dollar Security' campaign launched last year, which sought to raise the network's overall security standards. The move mirrors similar recent efforts in the sector, such as Aave Labs' recent $1.5 million audit program for its V4 protocol.
