BFBP-C-8: Fund Basin Code4rena Audit

Proposer

guy

Summary

Fund a Code4rena audit of Basin. Use 26,000 USDC and ~28,600 Beans from the Audit Fund to pay for the audit.

Auditor

Code4rena facilitates community driven contests for smart contract audits. Code4rena has a high quality reputation and no Code4rena audited code has lost any user funds in 2 years of audit contests.

Decentralized security programs with aligned incentives for auditors have proven to have high efficacy in protecting code in the Beanstalk ecosystem (see Immunefi). Although Basin has already been audited by Halborn and Cyfrin, the protocol will be non-upgradable, therefore it is prudent to frontload security work before deployment.

Payment

The audit contest is planned to start at the end of June / beginning of July 2023 and last 5 days. The award pool for the audit will be 40,000 USDC.

Payment from Beanstalk Farms will be as follows:

• 26,000 USDC (which contributes to the award pool);
• $28,600 worth of Beans based on the Bean price at the time of payment (which contributes to the award pool and covers the Code4rena operating fee); and
• 10,000 USDC (which is a refundable deposit).