Distribution and identity protocol, Layer3 announced a partnership with the bug bounty platform HackenProof to introduce a $500,000 bug bounty program.
A bug bounty program is a security initiative that rewards individuals for discovering and reporting software vulnerabilities, offering both recognition and compensation for their efforts.
The program launched by Layer3 aims to identify and address issues related to smart contract malfunctions across various levels of operational disruptions. It seeks evidence of problems that could lead to unintended consequences, such as theft or loss of funds, unauthorized transactions, and permanent freezing across critical severity. For high severity, it seeks temporary freezing issues, while griefing or malicious disruptions are targeted at medium severity.
Tokenized attention needs next-level security.
The @Layer3FDN has set up a $500K Bug Bounty program with @HackenProof. pic.twitter.com/VmBxKqi9vP
— Layer3 (@layer3xyz) August 16, 2024
Layer3 Unveils Guidelines For Reporting: Single Report Requirement And PoC Mandate With Variable Rewards
Users are required to submit a single vulnerability per report, except when multiple vulnerabilities must be linked to demonstrate their impact. A Proof of Concept (PoC) is necessary for all levels of severity.
During testing, users must adhere strictly to the defined scope and avoid testing on mainnet or public testnet code. Efforts should be made to prevent any damage or restrictions to products, services, or infrastructure, as well as to avoid compromising personal data or causing interruptions or degradation of service.
For blockchain vulnerabilities, only the issue with the highest severity will qualify for a reward. Critical vulnerabilities are those leading to loss or permanent freezing of staked funds. These critical issues are compensated with a 6-month linear vesting schedule, with a maximum reward of USD 500,000 in DEXE tokens. Medium severity issues receive payouts in stablecoins, while high and critical severity issues are rewarded in DEXE tokens.
Layer3 operates as a distribution and identity protocol aimed at the $1 trillion “attention” market. The platform aims to create a marketplace for attention by leveraging an identity and reward infrastructure. It provides an omnichain identity and earning solution that integrates across Ethereum Virtual Machine (EVM), Solana, and Cosmos networks.
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