Terra validators passed a proposal of security firm SCV to fund the “proactive approach to security benefiting the Terra community”, with the firm requesting the community pool for 550k LUNA tokens, about $900k USD, in order to kickstart and scale the project outlined in the proposal.
The SCV proposal was passed with 72.52% votes in favor, 26.16% abstained from voting, and only 1.31% voted against the proposal.
SCV will be:
- Proactively identifying risks on Terra’s software stack
- Coordinating vulnerability disclosures and remediations
- Actively monitoring external surfaces for vulnerabilities
- Providing security awareness, training, and guidance
SCV noted the funding would be required to sponsor vulnerability research, small hackathons and continue scaling the team’s proactive security work dedicated to Terra and on-chain projects.
SCV will be expanding its services to continuous monitoring projects on Terra and assisting in maintaining a bare minimum level of security for them.
It will also allow SCV to expand, hire security specialists, encourage security research, and reach a wider audience within the Terra ecosystem.
SCV stated, “On average, a good researcher and security professional costs around ~15k monthly. This funding would allow us to assign more of our security experts time to focus on Terra projects and the greater good of the Terra community.”
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