Folks Finance $50,000 Immunefi Bug Bounty
March 31, 2022 - Folks Finance launches a $50,000 Bug Bounty program on Immunefi to increase the protocol’s robustness.
Folks Finance has always considered the security of its users to be a top priority. Along with the three audits completed by Runtime Verification, Vantage Point, and Coinspect, the Bug bounty program is a key step in preparing for the launch of the protocol on Algorand Mainnet.
This Bug bounty program is focused on their smart contracts, website, and app and is focused on preventing:
- Unrecoverable failure of smart contracts
- Theft of pooled assets
- Theft of fTokens (Folks Finance deposit tokens) or user funds
- Manipulation of asset prices
Folks Finance Bug bounties are up to $50,000: individual bounties are distributed based on threat level on a 5-level scale, with separate scales for websites/apps and smart contracts.
- Critical $50,000;
- High $5,000;
- Medium $2,000;
- Low $1,000.
Websites and Applications:
- Critical $ 5,000.
To participate in this bounty and to discover all the bounties prizes check out the Immunefi dedicated page.
The Importance of a Bug Bounty
Bug Bounty programs are open invitations to security researchers to discover and disclose potential vulnerabilities in smart contracts and project applications, thereby protecting projects and their users. Whitehat hackers receive a reward based on the severity of the vulnerability they discover, as determined by the project involved.
Bug bounty programs expose vulnerabilities so they can be fixed before they are exploited in malicious hacks that destroy projects and ruin reputations.
Immunefi is the leading bug bounty and security services platform for Web3, which features the world’s largest bounties and the first-ever operational bug bounty protocol. Immunefi guards over $100 billion in user funds across projects like Synthetix, Chainlink, SushiSwap, PancakeSwap, Bancor, Cream Finance, Compound, Alchemix, Nexus Mutual, and others.
Immunefi is chain-agnostic, meaning that we host bug bounties for blockchain projects across all chains and networks.