10/20/2022
The Forta Foundation is funding this Web3 Security RFP (Web3SecRFP) for collaborative research by universities and members of the Forta community, who working together can make advances in blockchain security problems with a focus on detection capabilities.
The Forta Network is the leading real-time detection network for Web3 security & operational monitoring. Forta’s mission is to protect Web3 by detecting threats and anomalies on DeFi, NFT, governance, bridges and other Web3 systems in real-time.
The goal of this request for proposals (RFP) is to support research in different areas of Web3 security that leverage the Forta Network, with a focus on detection and prevention. Speed and accuracy of detection is of utmost importance as state changes on a block change are immutable. Once funds have been stolen, transactions cannot be reverted. Detections and associated mitigation efforts (e.g. pausing a smart contract) need to be quick, which necessitates automated systems with high precision.
The risk to Web3 as a whole due to these attacks is high. Despite a maturing industry and increasing adoption of security practices (e.g. smart contract audits and bug bounties), attacks are rampant. According to Chainalysis [https://go.chainalysis.com/2022-Crypto-Crime-Report.html], in 2021 over $2B was lost in protocol attacks and almost $8B was lost due to scams, phishing attacks, and rug pulls. In 2022, the losses in protocol attacks have already exceeded the numbers in 2021.
The Forta Foundation is launching an academic grants program. The Foundation will fund one or more projects (up to $100K in total funding for this Web3SecRFP) in new collaborative research efforts with university partners so that the Forta community can invent the future of security together.
Proposals should be sent to [email protected], according to the Proposal Body section on this document. For any further information or inquiry regarding this process, please email [email protected].
Research is an integral part of the innovation loop. Most of the exciting research is happening in universities around the world. The goal of the Forta Foundation Web3SecRFP is to develop new knowledge and capabilities that can provide a robust defense against future attacks. Through the grants program, the Foundation hopes not only to support academic research, but also to develop long-term collaborations between researchers around the world who share the same goal of protecting Web3.