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

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.

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