Forta and Nethermind are delivering security and real-time monitoring on Balancer contracts!
The team at Balancer Grants subDAO is proud to announce the approval of the grant application by Forta and Nethermind to develop and implement bots for security and real-time monitoring on Balancer smart contracts.
Forta is a real-time monitoring and alerting network for smart contracts. A useful analogy for Forta is a “giant security camera and alarm system for DeFi”. Nethermind is an Ethereum Research and Software Engineering company and will develop bots that run on the Forta network. Nethermind will develop bots that run on the Forta network and monitor the real-time security and health of Balancer. Alerts will give the core team and the broader Balancer community better visibility into the state of the Balancer protocol minute to minute and provide warning for potential risks to the protocol.
Bots will be developed and deployed to monitor a variety of transactions related to the Vault, Governance and Pools:
Vault
- Swap Fee & FlashLoan Fee Percentage Change
- Large Internal Balance Deposit / Withdrawal
- Large Swap
- Large Flash Loan
- Large Pool Balance Change (Join / Exit)
- Pool Registered
Governance
7. Large Balancer Governance Token (BAL) transfers.
8. Detect large veBAL delegation
Pools
9. Stable pool underlying token de-pegging
The offering from Forta/Nethermind is an exciting addition to Balancer’s ecosystem. They have delivered similar monitoring to other protocols with proven results. This is another way that Balancer is being proactive to develop the highest security to ensure a sustainable ecosystem. — Mitch Burns, Balancer Grants Co-Lead.
Forta’s mission is to secure Web 3. With support from Nethermind, we are thrilled to add Balancer to the list of Defi protocols being monitored by the Forta network. Real-time monitoring and alerting is a critical part of the Web 3 security stack and Forta’s decentralized approach ensures that both the Balancer core team and the broader community will have visibility into the real-time security and health of the protocol — Andy Beal, Ecosystem Lead at Forta
At Nethermind, we believe that sound protocol security is intrinsic to a healthy ecosystem. As a key building block of the DeFi infrastructure, the robustness of the Balancer Protocol is critical to all of Web3. We have a long-standing relationship with Forta, having been one of the first community members to become a bot developer on their project, and we are proud to work alongside them again, on sharpening the Balancer security suite — Lázaro Raúl Iglesias, Head of Forta Bots development team at Nethermind
About Forta
Incubated by OpenZeppelin, Forta is the first decentralized network delivering real-time intelligence on the security and health of Web3 core infrastructure and dApps. Protocols, DAOs, investors and individuals can use Forta to receive real time insights on security, financial, operational and governance related events on L1s, L2s and sidechains.
About Nethermind
Nethermind is a team of world-class builders and researchers. Our work, ranging from the Nethermind node to fundamental cryptography research and application-layer protocol development, touches many parts of the industry.
About Balancer Grants
The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and Ecosystem.
The BAL Grant program provides support and funding ($1K — $75K) to projects committed to supporting Balancer Protocol in achieving its mission to become the number one source for Decentralized exchange trades. This program is a good fit for individuals and groups that want to run a project that builds technology or resources on the Balancer Protocol.
Apply now!
If you are interested in supporting the development of the Balancer Ecosystem or want to build on top of the Balancer Protocol, this is your chance! Get started by filling in the Grants Application form. You can also check out our RFP page for inspiration!
Do you have marketing/sponsorship related opportunities you would like to discuss? Please check out the Marketing subDAO here and its own application form here.
For further questions about how the Grants subDAO works, check out the grants page, follow us on Twitter, or send an email to grants@balancer.community.
