To complement Ariel’s last update:
The implementation for this GIP has now gone through two different audits. The first one happened in July, and included the main pull request for this proposal, together with the PR for GIP-0031 and two other unrelated PRs. The report for this audit is available here, but the summary of which of those issues are relevant to this GIP is available in this other document.
The second audit focused on additional changes that added the keeper reward for calling drip. The report for this last audit is available here.
While we made progress with this, we realized this architecture ended up being quite complex, especially because of the state syncing between L1 and L2. The audit team from the second audit also commented on the complexity of the mechanism. This led us to consider other options, and we’ve put up an alternative proposal based on @ari’s idea (mentioned above) of changing issuance to follow a linear formula: turns out this makes everything much simpler and we can have a reasonable architecture minting L2 rewards directly in L2. We have an implementation for this (pending audit) and you can see the proposal in this post.
So we still think GIP-0034 is a viable option, but we’re exploring the GIP-0037 alternative and continuing with development and testing. We’ll keep sharing updates as we carry on, but feedback on both proposals would be welcome.