Base by Coinbase Rolls Out Free Security Audits for Devs—Building Trust or Just Avoiding Another PR Disaster?

Coinbase's Layer-2 network Base is throwing builders a lifeline—or maybe just duct tape—with its new free security review program. Because nothing says 'we learned our lesson' like offering audits after the fact.

Why this matters: With DeFi hacks draining millions monthly, Base is positioning itself as the 'good guy' in a Wild West ecosystem. Too bad trust doesn't mint tokens.

The fine print: The program targets native projects, suggesting Coinbase finally noticed that third-party dumpster fires burn their reputation too. Proactive? Or just CYA? Either way, devs get free threat modeling while VCs keep sleeping soundly.

The cynical take: In crypto, 'security' is usually a marketing bullet point—right after 'decentralization theater' and before 'tokenomics that would make Ponzi blush.' But hey, at least the price of prevention isn't getting rugged.

Coinbase’s new program  to improve network security

Base Chain claims it is focused on onboarding the next billion users on-chain, and it plans to achieve this by empowering builders with the tools they need to build secure, reliable apps and protocols for their users.

Last year, it pioneered free on-chain monitoring for Base builders, powered by Hexagate, and now, it is taking things a step further by offering security support for apps on the network.

Teams that make the cut will reportedly receive a scoped review, security-related recommendations, as well as assistance to improve security posture at no cost.

“We’re extending our security offering upstream by proactively supporting builders in their security practices—reviewing their smart contracts during the development process and helping to identify and mitigate some of the potential vulnerabilities before they become critical issues,” a blog post from the company read.

The blog also noted that the Coinbase Protocol Security team has conducted extensive audits across various DeFi protocols and has started developing a streamlined process targeting high-risk areas, leveraging static analysis and cutting-edge AI-based tooling.

They expect the new beta program to provide complimentary security reviews that will help builders strengthen their protocols. The initiative leverages the expertise of Coinbase’s Protocol Security team (ProtoSec), offering builders access to the DEEP experience they have gathered securing on-chain protocols.

Base joins other blockchains supporting security infrastructure

Coinbase’s announcement comes shortly after Arbitrum launched a similar program called the Arbitrum Audit Program, in which it allocated $14 million worth of ARB tokens to subsidize smart contract audits for blockchain projects on its network.

The initiative’s two major aims include bolstering the ecosystem’s security and making security audits easier financially.

Aside from Arbitrum and Base, Ethereum, Solana, and BSC have also been known to offer similar support.

Ethereum has a robust developer community that enjoys support from the ethereum Foundation through the Enterprise Ethereum Alliance, which includes around 50 members, including Accenture and Microsoft.

Unlike Arbitrum, Ethereum does not explicitly offer free security reviews. However, the ecosystem fosters security through community-driven tools and initiatives like MythX, a security analysis platform for Ethereum smart contracts known to provide free and paid audit services for developers.

Furthermore, there are open-source tools that are widely used for auditing Ethereum-based projects, often at no cost for open-source initiatives.

Polygon is also famous for supporting its developer ecosystem, but it does this by offering grants and partnerships with security firms and collaborating with firms like CertiK and OpenZeppelin to provide discounted or subsidized audits for builders on its Layer-2 solution.

Solana’s ecosystem boasts similar security-focused initiatives through partnerships with auditing firms, but the solana Foundation has also been known to occasionally provide grants or support for security audits to high-potential projects.

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