Date: 2024-04-04

Time: 12:30 PM - 1:30 PM UTC

Location: Zoom Call

Attendees:

• Sid Shah (Areta)
• Joseph Axisa (Axis Advisory)
• Paul Imseih (Daimon Legal)

1. Notion Plan Upgrade and Forum Responses

• Discussion: The ADPC discussed the need to upgrade their Notion plan due to reaching its limit. They also reviewed the legal documents made publicly available by Paul and discussed the comments and questions from the forum, with the suggestion to respond in order. The ADPC acknowledged the need to manage their workload, with the marathon analogy being mentioned for their work. The discussion ended with the suggestion to address the responses to the forum comments.
• Resolved: Joseph to upgrade the Notion subscription to accommodate the team's needs and ensure all relevant documents and discussions are organized and accessible. Paul to update the Zoom summary and share it with the team for further refinement and editing. Joseph to collaborate with Paul to finalize the proposal replies, ensuring they align with the team's discussion and the project's requirements.

2. University Societies' Security Costs Discussion

• Discussion: The ADPC discussed the proposal replies, focusing on security costs for university societies. They discussed the challenges faced by early-stage, non-VC funded projects in affording security services, a concern substantiated by a public consultation with security service providers. The suggestion was made to use a tool to automatically summarize the call.
• Resolved: The ADPC agreed to proceed with using an automatic call summarization tool for future discussions.

3. Subsidizing Security Audits for Early-Stage Projects

• Discussion: The ADPC discussed subsidizing security audits for early-stage projects. They agreed to subsidize a portion of the audit cost on a case-by-case basis, with a maximum subsidy per project. The ADPC proposed that projects contribute a portion of the cost to have skin in the game. They also discussed a budget for the subsidy program, with a maximum allocation per cohort over a specified period. Any remaining funds would either be returned to the treasury or used for program extension. The question on a co-insurance model, which was discussed in a previous meeting, was addressed.
• Resolved: The ADPC will subsidize security audits for early-stage projects as discussed, with the specified budget and allocation strategy.

4. Sid's Notes - Penn's Questions

• Discussion: The ADPC reviewed Sid's notes on Penn's questions regarding the security audit subsidy program. The questions focused on the evidence of security audit costs being a hurdle for new protocols launching on Arbitrum, the anticipated number of non-VC funded projects utilizing the subsidy, and the likelihood of the entire budget being distributed after the specified period.
• Resolved: The ADPC provided answers to Penn's questions, citing initial conversations with early-stage projects, existing interest in applying for the grant, and the similarity to the LTIP in terms of the maximum threshold and the potential for funds to be returned to the treasury or used for program extension if not fully utilized.

Adjournment