Bug Bounty Program

Risk General
1

Hey guys!

I hope that you are doing all right. I am proposing a Bug Bountry Program at Hats Finance.

Hats.finance is a decentralized bug bounty platform specifically designed to prevent crypto hack incidents by turning black hat hackers into white hat hackers using the right incentives. Additionally, the projects creating bounties for bugs (of differing severity) get to have the opportunity to increase the engagement both within their community and across other DeFi communities. Hats.finance is a decentralized bug bounty protocol that allows anyone to add liquidity to a smart bug bounty while farming $HATS. Hackers can responsibly disclose vulnerabilities without KYC & be rewarded with scalable prizes & NFTs for their work.

Smart bug bounty programs are a win-win for everyone. They can be created easily with a few on-chain transactions, and do not cost anything unless there a vulnerability is discovered, which would be more costly and irreversible once exploited. More importantly, it is transparent, decentralized, and gives power to the community behind the project. You can take a look at the DeFi projects, having created bug bounties, at the Hats.finance - decentralized cybersecurity bug bounty protocol

4

AAVE offers a bug bounty program, as indicated here: GitHub - aave/bug-bounty

The issue with this type of bug bounty program is that they are not using a third-party bug bounty service such as Immunefi or Hats Finance. This is an issue because there is no third-party to actually aide in making sure the bug is paid out, the hacker has to take the protocol at its word. Furthermore, the protocol has to manually sort through all potentially relevant bugs themselves, making it more difficult and time-consuming on the protocol to actually pay out. Ultimately, having a propriety bug bounty does not facilitate a good, healthy bug bounty ecosystem. I agree that AAVE should implement either immunefi or Hats as their decentralized bug bounty service. I also recommend having a larger bounty; 250K is peanuts when compared to the treasury of AAVE.

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