Ethereum Foundation Launches $1 Million Subsidy Program for Smart Contract Security Audits

The Ethereum Foundation has taken a significant step towards improving the security of its network with the launch of a $1 million subsidy program for smart contract security audits.

The initiative, which is part of the foundation's broader Trillion Dollar Security Initiative, aims to make audits more accessible to smaller teams and projects that may not have the resources to hire professional audit firms on their own.

Under the program, eligible teams can receive subsidies covering up to 30% of their total audit costs. Some projects may qualify for even higher support, reviewed on a case-by-case basis.

The subsidy program is a joint effort between the Ethereum Foundation, Areta, Nethermind, and Chainlink Labs, with over 20 audit firms already signed up through the Areta marketplace.