August Community Update
This month has been busier than usual! We thank the Hats team for synergizing efforts towards exciting initiatives we will announce in the upcoming months. Stay tuned in our social media for more information.
Meanwhile, let’s dive into some milestones we reached this month
Launch of The Grant Bounty
As part of our mission to onboard all web3 players in security, we created the grant vault, which allows anyone to create permissionless vaults that incentivize certain behaviors. Vaults can incentivize bug hunting, code development, project campaigns, and more.
Our first grant vault participant was PandaDAO, one of the largest decentralized product development DAO in Web3. In their vault, they incentivized vulnerability disclosure and content creation, rewarding 350,000 $PANDA.
You can read more about this initiative here, and reach out to the Hats Finance team via Discord if interested in creating your own vault.
In this partnership we combine the power of bug bounties and insurance, by helping projects create decentralized bug bounties while receiving insurance coverage. Hats will onboard new bug bounty vaults of projects that join Solace’s new insurance solution, Solace Native, by matching all critical-level payouts of up to $100k. This partnership will allow us to onboard more vaults and strengthen security of already insured projects. We believe this is the right path for projects that are looking to maximize their level of security while keeping investors at ease.
Read all about this partnership here
3 New Bug Bounties
Welcome Home, Solace, Mover and Jelly!
Solace is an insurance dApp that builds coverage products for smart contract exploits. Solace’s mission is to make DeFi insurance a trustworthy, scalable, and transparent experience.
Mover Card offers non-custodial and permissionless savings through the Mover debit card that offers automated rewards and metaverse savings. They offer products in the NFT, Web3, and DeFi space to create a new decentralized savings experience.
About Jelly Protocol
Jelly Protocol is a set of smart contract template recipes for token reward distribution. Powered by a contract factory and out of the box UI, Jelly makes it easy for projects to create their own Airdrops, Staking and Farming programs.
We are thrilled to have them onboard! Thank you for their commitment to security, we look forward to continue working with them.
Web3 Security Podcast!
This month we hosted Wallet Guard to talk about educating normies about web3 security. In this conversation we discussed some challenges users go through when learning about security, as well as some attack vectors beginner users might not be aware of. We talked about educational resources that help users stay educated on security trends and acquire best practices.
Podcast link coming soon!
Hatter Program and Ambassador Incentives
Every month, our amazing Hatters help us with article translations, podcast preparation, Dune analytics, and many other growth and marketing initiatives. We are incredibly grateful for their work and commitment to the Hats community.
This month, we have been preparing language AMAs in efforts to educate more users around the world about crypto security and the Hats mission. We also have hatters helping us reach out to projects, create proposals, and support our mission to onboard new vaults.
To continue this effort, we welcome new hatter applications 24/7. You can apply via Discord or by submitting your application here
Website UX and Applications
Our design team is working on adding features to our website and dApp that will make your user experience better. This will include videos, tutorials, and guides to help you navigate the Hats ecosystem better. Once all applications are finalized, we will make an announcement via Twitter and Discord.
Hats V2 and Audit
As V2 gets closer, we are starting our second audit next week. All code is available on chain, and we invite auditors and white hats to review. Excited to show you what we have in store for V2.
TempleDAO reward for the hacker
Today we announced a payout to hacker 0xc679 for finding a low vulnerability in @TempleDAO smart contracts. We thank TempleDAO for reacting promptly and working with the white hat to improve their contracts.
While there is still a lot more to build and improve in our system, the feedback from our partners is great, as more teams are understanding the future of security will be decentralized.
Expect more payouts from us soon
DeFi Security Summit at Stanford University
The Hats team participated in Stanford’s 2 day event focused on Web3 security, DeFi trends, and best practices. The event was filled with great talent teaching how to make projects safer, how to start a career in Web3 security, and technical workshops on upcoming security trends.
Overall this event was filled with knowledge and connections. Big shoutout to the Stanford team for hosting such a great event!
If interested in learning about it, you can listen to the first day recording here
ETH Berlin — September 16–18, 2022
Hats will be traveling to Berlin in September for ETH Berlin, if you are looking to attend, please reach out and we would love to connect with you.
This is all for the month of August! You will hear from us again next month.