Yearn Finance, a product organization that manages more than $3,750 million in capital that allows users to “optimize” their source of revenue in cryptoassets through loans and transactions. Array revealed on July 1, 2021 that it has unveiled its rewards program with Immunefi. , which is one of the leading security and bug bounty platforms that protects more than $25 billion in user assets.
Yearn Finance consistently ranks among DeFi projects in terms of general adoption and overall locked price (TVL). The platform combines several other products, adding a loan aggregator, a set of investment methods “designed to generate the highest returns from other DeFi projects”, as well as insurance that allows users to “download policies against monetary losses”.
Now, Yearn Finance is introducing its bug bounty program with bonuses “ranging from $100 to $200,000 for critical issues,” the ad notes, while adding that the duration of the premium payment “depends on assessing the severity of the exploit. “
The team will examine and review the likelihood that this error will have a “significant effect on the availability, integrity, and/or loss of funds, and only then will they make a final resolution on the amount of the payment,” he also commented that all invoices are “processed directly through the Yearn Finance team and denominated in USD. “
Immunefi is a bug bounty platform for smart contracts and DeFi initiatives. It was designed to allow security researchers to “review code, reveal vulnerabilities, and be paid to do so, and also allows corporations to protect their projects with DeFi’s most productive security talent. “says the ad.
Immunefi was the first on the market “to introduce a popular reward bug escalation and built the largest network of security skills in the crypto space. “Since its launch, it has paid more than $3 million in bonuses to “hackers,” the update revealed.
Mitchell Amador, founder and chief executive officer of Immunefi, said:
“Vulnerabilities in smart contracts are a direct loss of funds option, which means that corporations want to locate the most cost-effective way for their security. One of those tactics is to throw a bug bonus, and we’re excited to see more and more corporations turning to this option. We are proud that Yearn Finance has selected us among other platforms and look forward to our collaboration.
Prior to Yearn Finance, Immunefi controlled the integration of several BSC projects into its bug bounty platform, adding PancakeSwap, Zapper, ApeSwap, PantherSwap, Value DeFI, DODO, among others.