Camelot is voting “Abstain” on the Arbitrum Audit Program.
We believe the initiative is well-intended and necessary. We also welcome the formation of an evaluation committee in which the Foundation and Offchain Labs play a predominant role, as they are uniquely positioned to properly assess the value a protocol can bring to our ecosystem.
That said, several aspects remain unclear, such as the disclosure mechanism for information. Most importantly, there should be clarification on whether this program is exclusively for newly launched protocols or if it also includes existing ones. In the former case, we believe the initiative is overbudgeted. In the latter case, there should be clear guidelines on which projects are eligible to participate.
Overall, we believe that key, high-impact projects within the Arbitrum ecosystem should have the opportunity to be part of this initiative. This would allow the Audit Program not only to support the growth of new participants but also to strengthen the projects that currently contribute the most on-chain value.