Bancor 3 Bug Bounty Event With $1 Million Reward

Bancor Network is a decentralized trading and yield protocol that will soon release the Bancor 3. The $1 million bug reward was accompanied by the general public release of the Bancor 3 code in order to scour the code base for any exploits.

“As we get close to the B3 launch, we invite developers and whitehat hackers to review the code and try to find bugs in exchange for up to USD 1 million in rewards,”

The team wrote on their official Medium channel

The Bprotocol Foundation will decide on the rewards for spotting bugs based on the extent of the threats.

Bancor 3 Tiers Reward

• Identifying critical threats earns you up to $1,000,000 in rewards
• Identifying high and medium threats earns you $40,000 and $5,000
• Lower-risk risks will receive $1,000.

The protocol stated that “vulnerabilities disclosed prior to the official launch of Bancor 3” will be rewarded more generously. Bancor 3 is set to go live in the middle of May and is described as a “major re-design of earlier Bancor versions.”

Bancor 3 is planned to increase integrations and interactions aimed at increasing DeFi composability. Aside from the bug bounty, Bancor is thoroughly evaluating its code to identify any dangers. OpenZeppelin, Certora, and Peckshield, all leaders in blockchain security, are conducting several audits.

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