MakerDAO, the decentralized organization (DAO) behind the DAI stablecoin has launched a new bug bounty program with Immunefi, a crowdsourced security platform, offering a maximum payout upto $10 million to whitehat hackers who identify vulnerabilities in their smart contracts. Payouts start from $1,000 for low-level vulnerabilities to a maximum of $10 million for critical issues which will be made in DAI stablecoins. With a whopping $10M reward, MakerDAO’s bug bounty program claims to be not only the largest hosted on Immunefi, but also the biggest in the entire tech space ever. “We take the security of our smart contracts and the Maker protocol very seriously and are thrilled to be working with Immunefi,” said We are pleased to have expanded the number of core contracts within the bug bounty and look forward to partnering with Immunefi as we build new layer one functionality and scale to new multichain deployments,” Derek Flossman, head of the protocol engineering core unit at MakerDAO said. MakerDAO is the community behind the DAI token. With a market cap of about $9.8 billion, DAI is currently the 20th largest crypto asset and the fifth largest stablecoin. The first-ever decentralized stablecoin on the Ethereum blockchain, DAI has been a key player behind the booming DeFi sector having integrated over 1,000 dapps including wallets, DeFi platforms, games, and more. In October 2021, Immunefi, raised $5.5 million in funding. J...
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