OpenZeppelin Security Partnership - 2023 Q3 Compensation
01Summary
OpenZeppelin quarterly security services compensation for Q3 2023: transfer of 34,118 COMP tokens (~$1M USD) from Compound Timelock to OpenZeppelin for continuous audit, security advisory, and monitoring services.
- Type
- treasury allocation
- Funding
- $1000000
Key changes
- Transfer 34,118 COMP tokens to OpenZeppelin (0x57C970568668087c05352456a3F59B58B0330066) from Compound Timelock(high)
Generated by Kvorum
02Description
OpenZeppelin Security Partnership - 2023 Q3 Compensation
Background
Starting on Dec 21st, 2021, OpenZeppelin was selected to offer the Compound DAO security services including continuous audit, security advisory, and monitoring. At the start of every quarter, OpenZeppelin creates a proposal to perform the next service fee payment.
Compensation Structure
We receive our quarterly payments in a lump-sum of COMP. Based on the last week's average price, this would be $29.31 per COMP for a total quarterly payment of 34,118 COMP equaling $1M per the original agreement. This COMP will be transferred from the Timelock's existing balance. More detail in this forum post.
By approving this proposal, you agree that any services provided by OpenZeppelin shall be governed by the Terms of Service available here
03Mismatch analysis
The proposal describes a single action: a quarterly COMP payment of 34,118 COMP to OpenZeppelin, funded from the Timelock's existing balance. The decoded calldata contains exactly one action: a transfer() call on the COMP token contract address (0xc00e94Cb662C3520282E6f5717214004A7f26888, the well-known Compound governance token address) for 34118017814992400000000 wei, which equals ~34,118.0178 COMP — matching the stated amount to a fraction of a token, well within rounding for a price-based lump sum description. The recipient address is not explicitly stated in the prose, but this is standard for OpenZeppelin's recurring compensation proposals and there is no conflicting recipient claim in the description to compare against. No extra actions, no missing actions, and no value or target mismatches were found. The action count, direction of funds, and magnitude all align with the prose.
Generated by Kvorum
04Actions
- Target
- 0xc00e…6888
- Value
- 0 wei
- Function
- transfer(address,uint256)
- Arguments
{ "0": "0x57C970568668087c05352456a3F59B58B0330066", "1": "34118017814992400000000" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 8D0x8d07…a265 | For | 70K | 0.00% | — | 3y ago |
| 540x54a3…e189 | For | 57.6K | 0.00% | — | 3y ago |
| ED0xed11…bb04 | For | 50K | 0.00% | — | 3y ago |
| 070x0703…961b | For | 50K | 0.00% | — | 3y ago |
| 130x13bd…8548 | For | 50K | 0.00% | — | 3y ago |
| TEtennisbowling.eth0xc3aa…f546 | For | 47.5K | 0.00% | — | 3y ago |
| B90xb933…8dd1 | For | 27.5K | 0.00% | — | 3y ago |
| E40xe459…e666 | For | 26K | 0.00% | — | 3y ago |
| DAdakeshi.eth0xe3c9…6b21 | For | 21.3K | 0.00% | — | 3y ago |
| A50xa5dc…d648 | For | 1K | 0.00% | — | 3y ago |
| 660x66cd…65f9 | For | 246.7 | 0.00% | — | 3y ago |
| 840x84e3…5a95 | For | 39.6 | 0.00% | — | 3y ago |
| B90xb974…bf12 | For | 1 | 0.00% | — | 3y ago |
| 2F0x2f2f…f78a | For | 1 | 0.00% | — | 3y ago |
| 0F0x0fdf…f02f | For | 0.3 | 0.00% | — | 3y ago |
| 340x3496…126b | For | 0.3 | 0.00% | — | 3y ago |
| A80xa8ea…3bcb | Against | 0.2 | 0.00% | — | 3y ago |
| E10xe1b9…0034 | For | 0.2 | 0.00% | — | 3y ago |
| 500x50d2…5318 | For | 0.2 | 0.00% | — | 3y ago |
| 060x06c4…66a2 | For | 0.1 | 0.00% | — | 3y ago |
| 2F0x2fe7…6f04 | For | 0 | 0.00% | — | 3y ago |
| 930x934e…05f3 | For | 0 | 0.00% | — | 3y ago |
| 380x382e…51ea | For | 0 | 0.00% | — | 3y ago |
| FB0xfb00…7930 | For | 0 | 0.00% | — | 3y ago |
| 0F0x0f1a…a687 | For | 0 | 0.00% | — | 3y ago |
| 440x4475…9d6a | For | 0 | 0.00% | — | 3y ago |
| 2F0x2fec…927b | For | 0 | 0.00% | — | 3y ago |
| F30xf361…ea0c | For | 0 | 0.00% | — | 3y ago |
| 4A0x4a2e…f246 | For | 0 | 0.00% | — | 3y ago |
| 780x7851…11e7 | Abstain | 0 | 0.00% | — | 3y ago |
07Forum
- OpenZeppelin Security Updates for Q2 2023 & Q3 Compensation Proposal ↗discourse · high confidence
Arguments for
- OpenZeppelin delivered substantial security work in the quarter (audits, security assessments, incident advisories, and monitoring improvements), justifying continuation of the partnership.— cylon
- The compensation proposal follows the same structure as the prior four quarters, providing continuity and predictability for the partnership arrangement.— cylon
- OpenZeppelin's monitoring and advisory work proved effective in real incidents (e.g., cSUSHI price occurrence, Hundred Finance exploit), demonstrating value delivered.— cylon
Arguments against
None surfaced.
Notable participants
- cylonProposer from OpenZeppelin who detailed Q2 work delivered and submitted the Q3 2023 compensation proposal for community approval.
Generated by Kvorum
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