CDS Crypto News Compound Finance Bug Bounty Program: The DeFi Protocol Strengthens Security with Immunefi Partnership
Crypto News

Compound Finance Bug Bounty Program: The DeFi Protocol Strengthens Security with Immunefi Partnership

40
Compound Finance Bug Bounty Program The Defi Protocol Strengthens Security With Immunefi Partnership

Compound Finance Bug Bounty Program: The DeFi Protocol Enhances Transparency and Security

Compound Finance Bug Bounty Program: The Defi Protocol Enhances Transparency And Security

A $1 million bug bounty program on Immunefi has been started by Compound Finance, a DeFi protocol that improves money markets, to strengthen platform security and guarantee user safety. Additionally, Immunefi stated in the update that Compound enables users to engage directly with the protocol without the need for intermediaries by establishing transparent, permissionless money marketplaces, opening up new avenues for decentralized financial development.

DeFi Safety First: Compound III Enhances DeFi Efficiency Across Ethereum, Polygon, and Arbitrum

The most recent protocol version, Compound III, offers a simplified method of providing cryptocurrency assets as security for borrowing a base asset, namely USDC. Scalability and efficiency are guaranteed for the changing DeFi landscape by Compound III, which is implemented across several chains, including Ethereum, Polygon, and Arbitrum.

Immunefi has launched the Compound Finance Bug Bounty Program, which encourages security researchers to find and report protocol flaws. The severity of the findings determines the rewards. Serious smart contract vulnerabilities can earn up to $1,000,000 in prizes. The following is the reward structure:

  • Critical: Up to $1,000,000
  • High: $10,000–$50,000
  • Medium: $5,000
  • Low: $1,000

Compound’s dedication to a safe and open DeFi environment is further demonstrated by the fact that all awards are paid in COMP tokens but are valued in USD.

For more up-to-date crypto news, you can follow Crypto Data Space.

Compound Finance Bug Bounty Program: The Defi Protocol Strengthens Security With Immunefi Partnership 293409
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Bitcoin ETF Outflows and South Korean Demand Impact BTC’s Price Action

Bitcoin's price surged to $98,000 amid a Christmas rally, with bullish sentiment...

Top Crypto Stories of 2024: Bitcoin ETFs, Bankman-Fried & More

Explore the top crypto stories of 2024, including Bitcoin ETFs, Bankman-Fried’s sentence,...

Turkey Crypto Regulations: Identifying Info Required for Large Transactions

Turkey introduces new crypto regulations, requiring identification for transactions over $425, effective...

American Airlines Stock: Resilience Amid Disruptions

American Airlines stock shows resilience despite a Christmas Eve flight halt, closing...