Uniswap Labs, the developer of one of the largest decentralized cryptocurrency exchanges, is offering a record reward of $15.5 million for identifying vulnerabilities in the new version of the V4 protocol.
Uniswap Labs has announced a bug bounty program that is being called the “biggest ever”. Developers are looking for coders who will be able to find errors in the Uniswap protocol version 4. But those who want to receive a multi-million reward will face high competition: 9 audits and more than 500 researchers have already been suspended from working in the code due to vulnerabilities.
The company said that no critical vulnerabilities were found during the check. However, the $15.5 million reward is an additional step toward securing the platform. Notifications of detected errors must be sent within 24 hours of detection and remain confidential until they are corrected.
The program offers rewards ranging from $10,000 to $15.5 million, depending on the severity of the error. The maximum payout for the V4 protocol code is $44.4 million. Uniswap V4 runs on multiple blockchains, with the largest deployment on Ethereum. In the last 24 hours on Ethereum, the version of the platform has seen a trading volume of over $1.7 billion, supporting 1,441 coins and 2,080 trading pairs.
The Uniswap program demonstrates the importance of investing in the security of decentralized financial protocols. The record-breaking awards highlight the seriousness of the approach to protecting user data and assets. The innovative v4 version of the protocol opens up new opportunities for developers and users and provides the highest level of security.