ApeCoin community approves $4.4 million bug bounty program
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Answer ApeCoin community approves $4.4 million bug bounty program
ApeCoin DAO, the independent decentralized organization responsible for overseeing the development of APE, the digital currency of the Bored Ape Yacht Club (BAYC) ecosystem, has agreed to allocate $4.4 million to conduct a bug bounty program on ImmuneFi.
According to the snapshots from the votes cast that ended today, as many as 3.9 million APEs were cast in favor of the proposal, which has been dubbed AIP-134.
The support vote ended with 57.92% compared to 42.08% for those who pledged 2.9 million APE against the proposal.
The core of the bug bounty is creating an additional security layer for the long-awaited staking ApeCoin service, which is billed to go live in December.
ApeCoin DAO wants white-hat hackers and experienced developers to help find vulnerabilities or any other easy-to-crack ways in staking smart contracts.Read:Venezuela Creates a Decentralized Trading Platform Built on the Ethereum Blockchain
The reward, after it is approved, can be released to “ImmuneFi” with 1 million APE allocated to the reward that will be forged from the protocol locker.
The DeFi ecosystem has been subject to a lot of hacker squabbles and harassment this year.
As one of the most prestigious NFT pools, Bored Ape users have been a prime target for cybercriminals, and the company hopes the proposed bounty will help it identify bugs and vulnerabilities before launching its staking service.Read:The CEO of Binance stated: Crypto winter is a buying opportunity
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