- 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.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
