According to The Block, the Arbitrum Foundation announced that it will distribute up to 30 million ARB (approximately 14 million USD) over the next 12 months to subsidize the smart contract audit fees for Arbitrum network projects. The plan has been approved by ArbitrumDAO and aims to drop the barrier for small and medium-sized projects to obtain security audits, promoting the safe development of the ecosystem. Approved projects must choose auditing firms from the allowlist, which is expected to be announced this week.

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