Shardeum Teams Up with Immunefi to Launch Bug Bounty Program Ahead of Mainnet

New York, United States, July 8th, 2024 – Chainwire

Shardeum has announced a collaboration with Immunefi, a leading bug bounty and security services platform for Web3, to launch its first bug bounty program ahead of its mainnet launch. This initiative aims to identify critical issues and vulnerabilities within the network, marking a significant step in enhancing security before Shardeum’s mainnet goes live.

Although Shardeum has conducted several internal security audits with third-party vendors, this program represents its first external bug bounty, inviting individuals to engage in ethical hacking to uncover bugs and vulnerabilities. Participants who provide valid proofs of concept will receive bounties as recognition for their contributions. This partnership with Immunefi will streamline the recruitment process and allow developers from around the world to get involved.

Chris Chabot, VP of Developer Relations at Shardeum, expressed enthusiasm about the collaboration, stating, “We are excited to be executing this step with Immunefi as our trusted partner. Shardeum has been making tremendous progress in 2024 and the mainnet launch is approaching. We highly value community engagement, and this bug bounty is another opportunity for our community to participate in securing the network.”

Shardeum’s bug bounty program includes two "boosts" that will enhance participant rewards. These boosts will be active from July 5th to August 16th, 2024, divided as follows:

• The "Core" boost will offer a total bounty of $500,000.
• The "Ancillary" boost will provide a total bounty of $200,000.

Mitchell Amador, Founder and CEO of Immunefi, commented, “Immunefi’s mission is to ensure that every blockchain can enhance its security to the highest standard, protecting their community from potential threats. We are thrilled to partner with Shardeum, helping them take significant security measures ahead of their mainnet launch while encouraging community participation in this critical phase of blockchain development.”

Recently, Shardeum launched Stage 1 of its incentivized testnet, Atomium, which allows community members to participate in testing the network’s resilience. During Stage 1, the initiative attracted over 483,000 unique participants, reflecting strong community engagement, which is expected to grow further as Stage 2 approaches.

For more information on Shardeum’s bug bounty program and how to participate, interested individuals can refer to the available program details.

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About Shardeum

Shardeum is an autoscaling EVM-based layer-1 blockchain. Its dynamic state sharding technology helps keep gas fees low while maximizing transaction throughput as participation increases. By performing consensus at the transaction level, Shardeum reduces the computational resources required for validator nodes, enabling wider opportunities for individuals to run nodes, thus enhancing decentralization.

About Immunefi

Immunefi is the largest crowdsourced security platform in the Web3 space, protecting over $190 billion in user funds across numerous projects. With a track record of paying out over $100 million in bug bounties, the company has set industry standards in scaling Web3 bug bounty programs.

Contacts:

Chief Growth Officer
Kelsey McGuire
[email protected]

Priyanka Sharma
[email protected]