Ethereum developer Griff Green will use unclaimed funds from The DAO hack to establish a new security fund.

PANews reported on January 30th that, according to The Block, early Ethereum developer Griff Green announced the launch of a new security fund called "The DAO Security Fund," utilizing unclaimed funds from the 2016 "The DAO" hack. These funds, initially set aside for returning funds to victims in exceptional circumstances, comprised approximately 20% of the total amount and are now valued at around $200 million.

The fund will hold approximately 70,500 ETH (from the ExtraBalance withdrawal contract) and approximately 4,600 ETH equivalent in DAO tokens (from TheDAO Curator Multisig), and will support its operations through staking rewards. The funds will be used to support the Ethereum security ecosystem, and the funding mechanism will adopt a grassroots-oriented model such as quadratic funding and retrospective grants. The Ethereum Foundation's Grants Management team will be responsible for eligibility verification for each round of funding. This initiative is considered part of the Ethereum Foundation's "trillion-dollar security plan."