Announcement of Euler Treasury Transactions - 14 May 2024

From: The Euler Foundation

To: The Euler Community

Announcement of Euler Treasury Transactions

The Euler Foundation would like to brief the community on a transaction that will be debited from the Euler treasury.

In the coming days, the Euler Foundation will pay an invoice issued by Euler Labs for $1,250,000, for an upcoming Cantina audit competition. This security cost is part of the scope of services managed by Euler Labs, which was approved by the Euler DAO in eIP 59.

Euler is running a month-long audit competition with Cantina, with a total prize pool of $1,250,000. The competition starts on May 20th. Any funds not distributed in prizes will be returned to the DAO treasury.

More information about the Cantina audit competition can be found here.

Thank you,

The Euler Foundation