$1.3 Million USD considered to expensive by the community ((125k x 0.022) * 480 ) ; cheaper proposal inbound
Slock.it has acknowledged the negative feedback that its first proposal received, the German startup has decided to present a new, thinner version. Slock.it will update the DAO general framework for free, and the security team has been reduced to only one member.
The German startup received heavy criticism for its latest proposal, Slock.it presented yesterday a 125,000 ETH budget to The DAO for security updates to the code, a dedicated security team of 2-3 ‘experts’, and a bug bounty program. The proposal wasn’t well received by the community, as many claimed that it was overpriced, and saw it as a clear mismanagement of funds. Stephan Tual, COO of Slock.it stated: