Stablecoin Protocol typically partners with blockchain security company Sherlock to launch a $16 million bug bounty, surpassing Uniswap’s $15.5 million prize, previously the largest in the industry.
It is partnering with Sherlock to launch a $16 million bug bounty aimed at identifying critical vulnerabilities in the codebase, as reported in Blocks. Winners hosted on Sherlock’s platform only reward findings that pose clear and significant risks of fund loss or freeze over for more than a year, without external conditions.
The regular codebase has received 20 audits, including the recent Sherlock Audit Contest, with a $209,000 prize pool, but no vulnerabilities were found.
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High value bug bounties are becoming a trend in crypto security. Recently, Sonic Labs has partnered with Immunefi to provide a $2 million bounty, while Combined Finance launched a $1 million program in partnership with Immunefi.
In November 2024, UNISWAP Labs (UNI) launched a $15.5 million bug prize. This is the biggest in the industry. However, the usual $16 million bounty is now the largest ever.
“This record-breaking bounty award, which is more than $880 million for TVL, is a strong statement from usual that demonstrates the dedication to the security of the protocol,” the project told the Block.
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