Bug Bounty Alert: Welcome Paladin!
We are thrilled to welcome Paladin to the Hats ecosystem!
Starting today, Paladin will be opening a decentralized bug bounty program of $250,000 $PAL tokens. This prize pool will be used to reward vulnerability disclosures of their smart contracts. Any user in possession of $PAL tokens can contribute to the security effort by depositing to their bug bounty vault.
Learn more about the Airdrop Machine and the Hats Mechanism.
(Liquidity mining isn’t live yet)
For more information regarding the contracts in scope and how to deposit/withdraw, please check the Hats dapp.
About Paladin
Paladin is a decentralized, non-custodial governance lending protocol where users can either loan or borrow voting power for upcoming governance votes. Active governors can pay interest to boost their voting power while passive depositors can sit back and earn because of the delegation mechanism.
Their project is composed of two major products: Paladin Lending and Warden. Paladin Lending allows users to get pooled voting power, while Warden serves as a veBoost marketplace and gauge vote incentives platform where vote-locked token holders can sell their token utilities achieving highly predictable revenue opportunities; while DAOs can develop and execute complex, long-term strategies around Curve as well as Balancer gauges. More information about Paladin protocol and its products can be found at paladin.vote.
Why Bug Bounties: The Hats Solution
Hats is the first bug bounty of its kind. True to the Web3 ethos, Hats facilitates decentralized vulnerability resolution between white hats and projects in a fully permissionless manner. Because hacks and exploits can affect all project stakeholders, Hats creates a way for all users to get involved in the protection of protocols by providing liquidity to bug bounty vaults, and in return earn $HATS (not live yet). Community-owned bug bounties are transparent due to their permissionless and on-chain resolution capabilities. This adds a scalable aspect to bug bounties, in which rewards grow with the project’s success, token appreciation, and users’ trust.
We look forward to supporting Paladin in their security efforts, so they can continue to build great products. For more information about future partnerships and announcements, please follow us on Twitter.
