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

According to Mars Finance, market sources indicate that early Ethereum developer Griff Green has announced the launch of "The DAO Security Fund," a new security fund utilizing unclaimed funds from the 2016 "The DAO" hack. These funds, initially reserved for victims in exceptional circumstances, comprise 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 worth of DAO tokens (from The DAO Curator Multisig), and will be supported through staking rewards. The funds will be used to support the Ethereum security ecosystem, employing a grassroots-oriented funding mechanism including quadratic funding and retroactive grants. The Ethereum Foundation's Grants Management team will be responsible for eligibility verification for each round of grants. This initiative is considered part of the Ethereum Foundation's "trillion-dollar security plan."