SingularityDAO: Immunefi Bug Bounty
Greetings DinoForce,
What are Bug Bounties?
A bug bounty program allows companies to leverage the hacker community to improve security by offering a monetary reward to ethical hackers for successfully discovering and reporting vulnerabilities or bugs to the application developer.
Upon discovery of a bug, they will complete a disclosure report that details exactly what the bug is, how it impacts the application, its severity level as well as key steps and details that allow developers to replicate and validate the bug.
After validation, the developer pays the bounty to the hacker, ranging from a few hundred dollars to millions, depending on the company and the bug’s potential impact.
Why is it important for SDAO?
Nothing is more important than the protection of user assets and the project’s longevity. With safety and security as a number one priority at SingularityDAO, bug bounties add an additional layer of assurance on top of the already stringent internal processes, third-party audits and insurance integrations that currently exist.
By teaming up with Immunefi, the SingularityDAO protocol’s security offerings are taken to the next level, with thousands of ethical hackers motivated to assist in improving the safety of the project.
Who is Immunefi?
Immunefi is Web3’s leading bug bounty platform, protecting $60 billion in user funds. With over $65m+ already paid out in bounties which have averted an estimated $25b+ in potential hack damages.
Trusted by some of the biggest names in the space, such as Chainlink, MakerDAO, The Graph, Polygon, Pancake Swap and many more, Immunefi was the obvious choice of partner to host SingularityDAO’s first bug bounty campaign.
What happens next?
Contracts are signed and the final details before release are being discussed between the two projects, stay tuned to SingularityDAO’s social channels to be the first to hear when bug bounties officially launch in the New Year!
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