OpenZeppelin Contracts Library

Since the early days of Solidity in 2016, OpenZeppelin Contracts has been the go-to library for smart contract development. Today it is used by everyone from development teams of the largest projects transacting billions of dollars each day to individuals building blockchain applications.

The Contracts Library is owned by the OpenZeppelin team, however, the roadmap is highly collaborative and involves a lot of feedback from the Ethereum ecosystem. In addition, to this our team is regularly involved in introducing new ERC and EIP specifications or providing feedback and improvements to the Solidity programming language.

Impact Metrics

The following metrics demonstrate the widespread use and impact of the OpenZeppelin Contracts Library:

• Total Value Locked in OpenZeppelin Contracts on Ethereum Mainnet: $15.67B
• Active Contracts (2023 YTD): 78,629
• Deployments (2023 YTD): 26,581
• Transactions Processed (2023 YTD): 61,062,561

Please keep in mind that these estimates are approximate. The method used to calculate these on-chain metrics uses Allium to extract data from the Ethereum Mainnet and the Smart Contract Sanctuary to segment the data into Total and Verified with OpenZeppelin contracts. To view the full stats click here.

5.0 Release

Recently, the team released our 5.0 version of the contracts library, the first major release since 2021. This latest release introduced:

• Modern best practices work out-of-the-box, including namespaced storage
• Simplified codebase for ever-improving security
• Efficiency improvements, including reduced gas consumption
• Modernizing access control with AccessManager
• More advanced testing, including new fuzzing and formal verification rules

The OpenZeppelin team also invested 38 audit weeks to secure the 5.0 release. Please visit our security center for further details on the security and metrics related to the contracts library.

Usage of Funds

The funds will be used to continue developing the contracts library, provide continuous security checks for new versions and implement feedback from the community received after the 5.0 release.