Polygon, one Ethereum expansion platform, Today announced the launch of a $2,000,000 bug bounty program to eradicate and eliminate potential security vulnerabilities in its audited network.Bounty program is now live A bug bounty platform focused on DeFi, immunity.
The bounty program is to openly invite security researchers to discover and report potential vulnerabilities in Polygon smart contracts and decentralized applications (Dapps)-to ensure that the projects developed on Polygon and their users are protected and the funds are intact. Participating white hat hackers will be rewarded based on the severity of the vulnerabilities they find.
The rewards for smart contracts and blockchain error reporting range from $1,000 for low-level threats to a maximum of $2,000,000 for critical threats. At the same time, reports of vulnerabilities in Dapps will generate rewards ranging from $2,500 to $15,000. The Polygon team will pay in ETH, MATIC or stable currency.
Polygon vulnerability bounties are distributed based on the Immunefi vulnerability severity classification system, which ranks threats based on the impact of vulnerabilities. In order to be considered for rewards, the error report needs to include the following details: summary, step-by-step instructions to reproduce the threat, and supporting documents such as screenshots and logs.
As capital continues to flow into the decentralized finance (DeFi) and non-fungible token (NFT) fields, ensuring protection from attacks or hacking has become the most important issue.
“The bug bounty program is still an important part of the security stack that protects the encryption protocol and user funds locked in the contract. We are proud that Polygon has chosen us among other platforms to ensure the security of its protocol, and look forward to our cooperation .”
– Mitchell Amador, founder and CEO of Immunefi
Polygon Network has successfully passed the smart contract audit of Certik, a well-known cyber security company, and ranked 17th in Certik’s security rankings.
“User security is at the forefront of Polygon’s spirit. This massive bounty product is designed to consolidate the extremely secure network we know.”
– Sandeep Nailwal, co-founder of Polygon
Polygon has the largest number of cryptocurrency exchanges and wallet users outside of the Ethereum main chain, enabling developers to drive innovation. Polygon’s reputation has attracted industry heavyweights such as SushiSwap, Curve and Kyber to collaborate with Polygon.
The developer-first approach also simplifies their onboarding process and provides access to venture capital from the beginning, as well as an introduction to exchanges and wallets.