Priority One is the largest of its kind and is run by one of the leading bounty facilitators in all of DeFi.
Priority Grows with Security
The Binance Smart Chain (BSC) just got a little bit safer. The Priority One Program by Immunefi signed on two more protocols: Wault Finance and Tranchess.
The Priority One Program launched last month as a serious step towards growing security on the chain. The bounty program has a total of $10 Million in BNB token allocated for five protocols. The Priority One program is the largest program of its kind for BSC projects.
“Security is the top priority for BSC, and this program is the largest of its kind in crypto. The total bug bounty pool available is $10mm per year in BNB,” the announcement from Immunefi on Oct. 8 reads. “Priority One will offer matching funds to boost the total bounty payout to anyone who discloses a high or critical vulnerability.”
BSC has been riddled with exploits, and the joint program is a serious step towards collective safety on the largest chain in crypto. The goal is to make a safer and more secure Binance Smart Chain for all users.
The importance of safety and security in decentralized finance (DeFi) cannot be overstated. As long as the industry remains outside the purview of regulators, programs like the Priority One from Immunefi will act as a bastion in the defense against bad actors.
The growth of this initiative should be a welcoming sign for the users who are on these platforms and use their respective tokens. The first three projects covered in the program were Belt Finance, Alpaca Finance, and AutoFarm.
All projects on Binance Smart Chain that already have a bounty established with Immunefi are eligible for participation. Immunefi’s website shows scores of projects currently utilizing bounties with them. BSC News hopes that all projects consider incorporating this into their roadmap and development.
About Immunefi:
Immunefi is the leading bug bounty platform for BSC projects. Immunefi launched in December 2020, as a bug bounty platform focused on blockchain and smart contract security. It provides bug bounty hosting, consultation, bug triaging, and program management services to blockchain and smart contract projects. Immunefi has saved hundreds of millions in user funds and continues to protect users’ funds and data.
To read up more on Immunefi, go to these links:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
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