BENQI Launches Bug Bounty Program with Immunefi to Harden Protocol Security
Immunefi brings their smart contract security expertise to BENQI
BENQI will host a bug bounty program on Immunefi, DeFi’s leading bug bounty and security services platform.
Alongside Immunefi’s white hats*, the program is focused on the wider open-source security community to hunt for potential exploits within BENQI, protecting users’ funds. Rewards will be based on Immunefi’s classification system, which uses a simplified 5-level scale, with separate scales for websites/apps and smart contracts/blockchains. The collaboration will focus on the key areas of reentrancy attacks, potential EVM logic error, block timestamp manipulation and other timestamp related vulnerabilities.
“The security of the DeFi ecosystem on Avalanche is of paramount importance. We are excited to lean into Immunefi’s network to maximize protocol security, and to give our users peace of mind when interacting with BENQI” - JD Gagnon, Co-Founder at BENQI.
Projects currently on the Immunefi Bug Bounty Program include Synthetix, SushiSwap, Nexus Mutual and Chainlink.
*A white hat is ethical computer hacker, or a computer security expert, who specializes in penetration testing and other testing methodologies that ensure the security of an organization’s information systems. You can learn more about smart contract security here.
About Immunefi
Immunefi is the leading bug bounty and security services platform for DeFi, where projects secure their code and white hats keep funds safe. Immunefi protects over $25 billion in user funds and has paid out millions of dollars in bug bounties, including the biggest bug bounty in history ($1.5m). Immunefi’s community of proven white hat hackers, war room and crisis management expertise, and industry-leading secure disclosure platform make Immunefi a core part of the security stack for DeFi’s leading projects, such as Synthetix, ArmorFi, and BadgerDAO.
About BENQI
Built on Avalanche’s highly scalable network, BENQI’s vision of bridging decentralized finance (DeFi) and institutional networks starts by launching BENQI on the Avalanche C-Chain. Through BENQI, Avalanche users will be able to earn interest on their assets, obtain credit through over-collateralized loans and earn QI governance tokens as rewards for providing liquidity on the protocol and Pangolin. For more information about BENQI, please visit: benqi.fi
