DEX DeGate and Imunefi Team Up To Offer $1.1 Million Vulnerability Reward Program

04/07/2023 07:21 • Crypto & Markets • 60 views

On April 7th, it was reported that DEX DeGate, an order book based on ZK Rollup, collaborated with the vulnerability reward platform Imunefi to launch a vulnerability reward program, inviting hackers to discover potential security vulnerabilities. The plan will pay a bounty of $1.1 million to hackers who discover major vulnerabilities. The plan includes vulnerability rewards of different measurement standards for DeGate smart contracts, zero-knowledge proof (ZKP) circuits, websites and applications, and separate parts of APIs and SDKs. DeGate will reward hackers who discover critical vulnerabilities with $1.1 million, and evaluate the impact of vulnerabilities based on the Imunefi vulnerability severity classification system to reward other vulnerability discoverers. The vulnerability reward plan will start on April 7th and continue until the release of the Mainnet Beta on the DeGate main network.

DeGate and Immunefi Launch Vulnerability Reward Program Today

In recent news, decentralized exchange (DEX) DeGate has partnered with the vulnerability reward platform Imunefi to launch a $1.1 million bounty program for hackers to find potential security vulnerabilities. This exciting collaboration aims to ensure the safety and security of DeGate’s platform and reward those who can help identify gaps in their protection.

Introduction

As crypto adoption grows, so does the importance of security. With billions of dollars at stake, any security vulnerability in a decentralized exchange could lead to significant financial loss. In light of this, DeGate has taken proactive steps to ensure the safety of its platform and users.

The Vulnerability Reward Program

On April 7th, DeGate and Imunefi announced the launch of their $1.1 million bounty program for hackers to find and report potential security vulnerabilities. The program will run from the date of the announcement until the release of the Mainnet Beta on the DeGate main network.
The vulnerability reward plan includes various measurements for DeGate smart contracts, zero-knowledge proof (ZKP) circuits, websites and applications, as well as separate parts of APIs and SDKs. Depending on the severity of any discovered vulnerabilities, hackers can earn rewards ranging from $100 to $1.1 million.
If a critical vulnerability is discovered, the hacker who reports it will earn the full $1.1 million reward. Subsequently, other vulnerability discoverers will receive rewards based on their reported vulnerabilities’ severity, using Imunefi’s vulnerability severity classification system.

Importance of the Vulnerability Reward Program

The launch of this bounty program highlights DeGate’s commitment to the safety and security of its users. The company recognizes the importance of identifying potential security vulnerabilities proactively and believes that incentivizing hackers to identify them will be a beneficial approach.
Moreover, DeGate’s partnership with Imunefi, one of the leading vulnerability reward platforms, ensures the maximum reach and exposure of the bounty program. Imunefi already collaborates with several high-profile blockchain projects and has gathered talented hackers worldwide, significantly increasing DeGate’s chances of finding all potential security bugs.

Conclusion

The cryptocurrency industry is increasingly under threat from hackers and bad actors looking to exploit vulnerabilities in decentralized systems. In response, DEX DeGate has taken the proactive step of collaborating with Imunefi to launch a $1.1 million vulnerability reward program to address any potential security loopholes before they can be exploited.
As cryptocurrency adoption continues to grow, projects must prioritize the safety and security of their users. We believe that the DeGate and Imunefi collaboration will be effective in achieving greater transparency in the security efforts and rewarding the hackers’ efforts that help protect the platform.

FAQs

#Q: What is DeGate?

DeGate is a decentralized exchange platform that operates based on the Ethereum network. It aims to combine the advantages of a centralized exchange with the security and trustworthiness of a decentralization system, delivering a seamless trading experience for its users.

#Q: What is a vulnerability reward program?

A vulnerability reward program is an incentive-based cybersecurity measure. A company or organization publicly invites hackers or pen-testers to find vulnerabilities in their system or software, offering rewards such as money, recognition, or other prizes in exchange for reporting the flaws.

#Q: What is a decentralized exchange (DEX)?

A decentralized exchange is a trading platform that enables peer-to-peer trading of cryptocurrencies, without the need for a centralized authority or custodian. Instead, trades are settled through smart contracts on a blockchain network, ensuring greater transparency, security, and control for users.
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