And likewise Immunefi, another DeFi bounty platform that launched in December last year, is overhauling the security disclosure model by pushing for upwards of 10% of vulnerable funds as a reward. Immunefi’s model in particular has already made waves, successfully netting a whitehat a $1.5 million reward . Three new projects emerging in just two months, and each with their own incentive model — it’s an industry-wide effort Stani Kulechov, the founder of DeFi lending platform Aave, believes will be key to the health and security of the space moving forward. “Auditors are not here to guarantee the security of a protocol, merely they help to spot something that the team itself wasn't aware of. Eventually it's about peer review and we need to find as a community incentives to empower more security experts into the space.” Bonassi should be a familiar name to anyone who has kept up with the recent spate of exploits . The Italian developer is one of the half-dozen or so white-hat hackers who frequently convene in the wake of an attack in an effort to replicate the exploit and help projects patch the vulnerabilities . Ask just about any DeFi founder about Bonassi and his fellow post-exploit “war room” whitehats, and they’ll be quick to sing their praises. “The DeFi community is blessed to have whitehats such as Samczsun and Emiliano. Their efforts [...] makes the space not only more secure but also highlights the narrative that there is lot of people within our ecosystem that cares for the success of the space,” said Kulechov. While the whitehats’ response skills are widely appreciated, ReviewsDAO is in some ways an effort to cut back the frequency with which projects need them. In Bonassi’s view, tension between the needs of projects and the limited resources of auditing firms is weakening the security of the Defi space writ large: auditors are always busy, but teams in the thick of the DeFi innovation race need to remain agile. While a project might want an audit on a few small changes, availability and costs often necessitate a larger order, leading to code “chunking.” “Since they are not available, you usually prepare a bunch of stuff you want reviewed and ship it to them. The interaction is really, let’s say ‘snapshot-based,’ rather than having a continuous collaboration,” said Bonassi. So, how to enable more frequent security reviews that better met the needs of projects? Bonassi says he initially considered a Gitcoin grant for a whitehat group as a solution, but ultimately determined that such a model would be overly-centralized and wouldn’t be able to scale. None of his whitehat peers had insight on how to solve the problem, either, so he opted for simplicity. The definitive guide on how scaling bug bounties will boost DeFi and smart contract security, from our CEO @MitchellAmador : - Bug bounties are incentive game changers - Scaling bug bounties will protect the community https://t.co/szvOn2JQu7 “If you don’t have any sort of idea, start from the basics: start a forum, let’s say a ‘market,’ where people can ask for reviews big or little, and also offer their expertise.” He’s not aiming to replace audits and auditing companies entirely, Bonassi notes, and instead envisions the DAO as one that can help younger projects better prepare for an audit by providing “continuous review” and “liquid auditing.” It’s a model that security expert Maurelian at OptimismPBC thinks leaves space for big auditing firms, while also acknowledging that there needs to be other security solutions as well. “IMO there is real value to an audit by a high quality firm, and nothing else really serves as an 'alternative', but I also think there is an issue of over-reliance on audits to provide security,” he said. Bonassi also believes ReviewsDAO could eventually become a kind of auditing “University,” where people with specialized knowledge can branch into other areas and young developers can grow into fully-fledged auditors — both taking stock of and bolstering the developer resources across DeFi. “My goal is also to map people and projects — having a transparent place where people can exchange information, help us to understand how many people who are, basically, from a security perspective good enough, are present in the ecosystem.” While it meets a clear market need, Bonassi says there are no current plans for monetization or a ReviewsDAO token.https://cointelegraph.com/news/as-faith-in-audits-falter-the-defi-community-ponders-security-alternatives
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Executive Order on Economic Relief Related to the COVID-19 Pandemic By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Background. The pandemic caused by the coronavirus disease 2019 (COVID-19) has led to an economic crisis marked by the closure of small businesses, job loss, food and housing insecurity, and increased challenges for working families balancing jobs and caregiving responsibilities. The current economic crisis has affected Americans throughout the Nation, but it is particularly dire in communities of color. The problems are exacerbated because State and local governments are being forced to consider steep cuts to critical programs to address revenue shortfalls the pandemic has caused. In addition, many individuals, families, and small businesses have had difficulties navigating relief programs with varying eligibility requirements, and some are not receiving the intended assistance. The economic crisis resulting from the pandemic must be met by the full resources of the Federal Government. Sec. 2. Providing Relief to Individuals, Families, and Small Businesses; and to State, Local, Tribal, and Territorial Governments. (a) All executive departments and agencies (agencies) shall promptly identify actions they can take within existing authorities to address the current economic crisis resulting from the pandemic. Agencies should specifically consider actions that facilitate better use of data and other means to improve access to, reduce unnecessary barriers to, and improve coordination among programs funded in whole or in part by the Federal Government. (b) Agencies should take the actions identified in subsection (a) of this section, as appropriate and consistent with applicable law, and in doing so should prioritize actions that provide the greatest relief to individuals, families, and small businesses; and to State, local, Tribal, and territorial governments. (c) click here Independent agencies, as enumerated in 44 U.S.C. 3502(5), are strongly encouraged to comply with this section. Sec. 3.https://www.whitehouse.gov/briefing-room/presidential-actions/2021/01/22/executive-order-economic-relief-related-to-the-covid-19-pandemic/