BFBP-C-6: Fund Two-Month Halborn Retainer

Proposer

guy and Silo Chad

Summary

Hire Halborn on a two-month retainer (April thru May) to provide two smart contract audit workstreams. Use 35,000 USDC and the Bean equivalent of 35,000 USDC from the Audit Fund to pay for the retainer, based on the Bean price at the time of payment.

These audit streams are intended to be used for:

• Silo V3;
• Wells/Pump/Aquifer; and
• Wells <> Beanstalk Integration.

Auditor

Beanstalk Farms and Halborn have a longstanding partnership and Halborn has audited significant amounts of code in the Beanstalk ecosystem. Having an auditor with domain knowledge and context on Beanstalk is ideal.

Halborn, founded in 2019, is a cybersecurity firm with over 100 security engineers who provide security advisory services, penetration testing, smart contract audits, and DevOps and automation consulting.

Incentive Alignment

Halborn has agreed to accept half of their payment in Beans and expressed intent to retain long-term Bean exposure. This is a healthy setup that creates mutual interest in the success of Beanstalk.

Payment

17,500 USDC and the Bean equivalent of 17,500 USDC from the Audit Fund per month, based on the Bean price at the time of payment (paid upfront). For example, if the Bean price at the time of payment is $0.9134, the payment sent to Halborn would be 38,318.37 Beans and 35,000 USDC.

35,000 / 0.9134 = 38,318.37