- Uniswap offers up to $15.5M in rewards for critical vulnerabilities in its V4 core contracts.
- The bug bounty aims to secure Uniswap V4’s new features, like customizable liquidity “hooks.”
- Despite multiple audits, Uniswap takes extra steps with a massive bounty to ensure platform security.
Uniswap Labs is rolling out a $15.5 million bug bounty program for Uniswap V4 which is set to be released soon. The new bug bounty is set to be the largest in blockchain history. The bounty aims to detect loopholes in the core contracts of the DEX platform before the platform goes live.
Reward Structure and Payouts
The reward structure is dependent upon how serious the vulnerabilities are. The amount they can earn varies from $2,000 to $15.5 million based on the level of risk. The highest payouts will be reserved for critical vulnerabilities that bring huge changes in the protocol. This will result in rewards up to $1,000,000 for high-risk issues.
Up to $100,000 is to be offered for medium risk vulnerabilities. In addition, researchers must submit their findings via the Uniswap’s Cantina platform within 24 hours of discovery to qualify for a payout.
Enhancements in Uniswap V4
Upcoming major improvements include ‘hooks’ which will allow developers to tailor how liquidity pools, swaps and fees work. These improvements aim to reduce costs and provide more flexibility for developers. Moreover, they will ensure that the platform’s security remains a top priority. Despite several audits and a $2.35 million research competition, Uniswap Labs believes a bug bounty program is essential for further securing the V4 protocol.
A Proactive Approach to Security
The platform has already undergone nine separate audits by firms like OpenZeppelin and Certora, but the team is taking additional precautions to safeguard user funds. The bounty program focuses on core contracts found in the Uniswap V4 GitHub repository, excluding third-party contracts or previously identified issues. The scope may expand in the future to include additional contracts.
This effort emphasizes the increasing significance of bug bounty programs in DeFi security. Uniswap’s proactive protection of user assets is establishing a new benchmark as the DeFi sector deals with increasing concerns about security breaches.
The post Uniswap Launches Historic $15.5M Bug Bounty to Secure V4 Core Contracts appeared first on Crypto News Land.
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