Polygon, an Ethereum scaling platform, announced that it has launched a $2M bug bounty program to find and fix security issues in its network. The bounty program can be found on the DeFi bug bounty platform and Immunefi.
The bounty program invites security researchers to report vulnerabilities in Polygon’s smart contracts or decentralized apps (Dapps). This will ensure that funds and projects based on Polygon are protected. Participants will be paid based on how severe the vulnerability is.
Bounties for reports on Dapp vulnerabilities and smart contracts range from $1,000 to $2,000,000 for high-level threats. Dapp vulnerability reports will earn rewards of between $2,500 to $15,000. The Polygon team will pay out in ETH, MATIC or a stablecoin.
The Immunefi Vulnerability Severity Classification System ranks threats according to their impact. Rewards for the Polygon bug bounty will be distributed. To be eligible for a reward, bug reporting must include the following: A summary, a step-by-step guide to reproducing the threat, and supporting documents like screenshots and logs.
As capital continues to flow into decentralized finance (DeFi), and non-fungible tokens (NFT), sectors, it is vital that we protect ourselves against hacks and exploits.
Polygon is a platform that empowers developers to innovate. It has the largest number of crypto exchange and wallet users besides the Ethereum mainchain. Polygon’s popularity has attracted industry heavyweights like SushiSwap and Curve to work with Polygon.
Developer-first also simplifies the onboarding process. It gives them access to Venture Capitals and exchange and wallet introductions right away.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.