Retroactive Approval for Additional Security Task Force Work [Try #2]

Abstract

This proposal requests retroactive approval for payment of an additional 2 person-weeks of security review work that Creed DAO completed for Everclear as part of the Everclear Security Task Force. This work was undertaken at the direct request of the Foundation and was necessary to ensure comprehensive security assessments of the Arbitrum Rewards smart contracts.

Initially, the security review was scoped within a predefined engineering budget. However, the additional work exceeded the originally planned engineering weeks, requiring further effort beyond what was initially accounted for. Given that this work was requested rather than self-initiated, it should be paid accordingly.

This proposal did not execute due to a high number of Abstain votes. Since the Snapshot voting setup requires more than 50% in favor for execution, an abstain outcome effectively results in no action. It is likely that delegates abstained due to a lack of context on why this additional work was necessary. Therefore, this vote is being resubmitted with clearer context to ensure an informed decision.

Budget Requirement

Following the rate structure established in the original agreement (EGP 21), we break down the budget for the additional work period.

Total Payment for Additional Work: $32,000 USD

The total amount is derived from 2 person-weeks of completed work at the previously established rate of $16,000 per week (maintaining a 20% discount from the market rate).

Payment Terms:

Payment to be made in CLEAR tokens. Token value pegged to the 7-day Volume-weighted average price (VWAP) on the day of posting of this proposal.

Work Breakdown:

• Arbitrum Rewards security assessment: 2 person-weeks

CLEAR Payment Calculation:

[Total USD amount] / [7-day VWAP determined on day of proposal] = [CLEAR amount]

$32,000 / 0.02306071437 = 1,387,641.31 CLEAR

Total CLEAR Amount: 1,387,641.31 CLEAR