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LayerZero Labs, the group behind cross-chain messaging protocol LayerZero, has launched a $15 million bug bounty in partnership with Immunefi, the main bug bounty and safety companies platform for web3, defending over $60 billion in consumer funds.
In keeping with a press launch, the bug bounty is the most important within the historical past of the software program business, demonstrating LayerZero’s dedication to web3 safety in addition to the builders and customers within the LayerZero ecosystem.
For every new vulnerability uncovered on the highest severity degree by members, LayerZero is providing a most reward of $15 million. With this incentive, LayerZero goals to set a brand new bar for bug bounties throughout all areas of the software program business.
This initiative comes after LayerZero Labs closed its $120 million Collection B funding spherical at a valuation of $3 billion in April. As a blockchain messaging protocol, LayerZero facilitates cross-chain messaging throughout 30 blockchains and offers the underlying infrastructure for builders to create interoperable, chain-agnostic dApps.
“With the launch of the biggest bug bounty on the planet, we hope that LayerZero’s dedication to Web3 safety and the people who make the group stronger is evident,” Bryan Pellegrino, CEO of LayerZero Labs, mentioned in a press release. “We care deeply about constructing the most secure, most used messaging protocol on the planet.”
The LayerZero protocol is utilized by decentralized exchanges, comparable to PancakeSwap, Sushiswap, TraderJoe, and Uniswap.
“We’ve paved the way in which to succeed in the best safety requirements within the business and labored to offer initiatives with the mandatory construction and entry to the strongest safety expertise. LayerZero’s bounty is a testomony to what we must always proceed shifting in the direction of, and that’s an simple dedication to safety,” mentioned Mitchell Amador, Founder and CEO at Immunefi.
Immunefi has been safeguarding consumer funds throughout initiatives like Synthetix, Chainlink, SushiSwap, Polygon, Bancor, MakerDAO, TheGraph, Optimism, and others.
With a staggering $75 million in rewards already distributed, Immunefi stands out as the biggest bug bounty platform in web3. It boasts a thriving group of top-notch safety consultants that scrutinize blockchain and sensible contract codes of varied initiatives to uncover vulnerabilities and responsibly report them, all whereas incomes compensation for his or her efforts in safeguarding the ecosystem.
The phrases and circumstances of the bug bounty, together with eligibility standards, might be discovered right here. Vulnerabilities should meet the factors decided by LayerZero Labs at its sole discretion.
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