According to TechFlow, Cosmos Hub released a new proposal, whereby Simply Staking commissioned Zellic to conduct a third-party audit of the permissionless ICS function.

The proposal aims to use community pool funds to audit the permissionless ICS functionality that allows anyone to create a consumer chain that opts in. The audit will be conducted by well-known security firm Zellic and is expected to take 2.4 calendar weeks at a cost of $90,000. The proposal also includes a 10% coordination fee, with a total budget of approximately $121,500 (approximately 24,850 ATOM).

Funds will be managed through a multi-signature wallet to ensure transparency. The audit aims to improve the security and reliability of the Cosmos ecosystem and promote faster and more convenient chain launches.