Hats Finance Expands to Rust Language with Guvenkaya Security Partnership

3 min readFeb 9, 2024

Expanding Rust, Substrate and NEAR Audit Capabilities through Innovative Collaboration and Educational Initiatives

Hats Finance, the pioneering on-chain audit competition and bug bounty platform, has announced a strategic partnership with Guvenkaya Security, a premier firm known for its Rust and Substrate security auditing expertise. This collaboration signifies a significant step for Hats Finance as it broadens its support to include the Rust programming language to support ecosystems such as NEAR, Polkadot and any Substrate chains, offering pay-for-results model solutions for projects prioritizing top-notch security frameworks.

The partnership between Hats Finance and Guvenkaya Security will unfold across two main initiatives:

A. Enhanced Support for Rust Projects

Guvenkaya Security will embrace Hats Finance’s trusted security model to elevate the standard for Rust project audits, aiming to enhance the overall security of Rust-based projects.

Recognizing the importance of comprehensive review processes, Guvenkaya Security plans to host audit competitions on the Hats platform immediately following their initial audits. This dual-layered approach not only solidifies the security vetting process but also involves Guvenkaya Security investing a portion of its service fees into the prize pools of these permissionless audit competitions. This innovative move marks a significant shift in how audit firms perceive risk, embracing both bug bounties and audit competitions as integral components of project security.

Ofir, Head of Growth at Hats Finance:

“This partnership is a testament to Hats Finance’s commitment to providing top-notch security solutions. By expanding into Rust language with Guvenkaya Security, we’re not only enhancing our service offerings but also contributing to the overall security ecosystem.”

B. Commitment to Education

Guvenkaya Security is set to launch a series of Rust-focused workshops in the coming weeks, aimed at enriching the auditor community’s knowledge and expertise in this critical area. This initiative reflects Guvenkaya Security’s commitment to fostering a safer and more secure Rust ecosystem by training and supporting more auditors in their journey. Hats Finance will support these educational endeavors by promoting and developing programs to extend their reach throughout the security ecosystem, demonstrating gratitude to Guvenkaya Security for leading these vital efforts.

This partnership marks a milestone in collaborative efforts to enhance blockchain project security, with both Hats Finance and Guvenkaya Security leading the charge towards safer, more secure deployments across the Rust, Substrate, and NEAR.

Timur, CEO of Guvenkaya Security:

“Our partnership with Hats Finance highlights our commitment to enhancing Rust security assessments and promoting Rust adoption. The Hats Finance security model, featuring audit competitions and bug bounties, provides significant value-add for our clients. Allocating a portion of our security assessment fees to the Hats Finance audit competition pool for our clients demonstrates our dedication to improving the overall security of each project we review. Hats Finance also enables us to distribute high-quality Rust security content, further advancing Rust security adoption. By joining forces, we and Hats Finance amplify our impact on Rust-based project security and foster a culture of continuous improvement within the Rust and Web3 security communities.”

About Hats Finance:

Hats Finance is a pioneering audit competition protocol, offering cost-efficient and comprehensive audit competition services to blockchain and decentralized projects.

About Guvenkaya Security:

Guvenkaya Security Guvenkaya is a leading security research firm specializing in Rust security and Web3 security of Rust-based protocols. Founded by Timur Guvenkaya, a seasoned security professional, Guvenkaya Security provides robust security solutions to safeguard digital assets and decentralized ecosystems.




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