Nautilus Chain and Hats Finance Collaboration: Advancing a Safer and More Robust Nautilus Ecosystem
Nautilus Chain, an innovative modular Layer3 chain utilizing the Celestia modular foundation, has joined forces with Hats Finance, a prominent security-focused protocol, to elevate security and user safety in both decentralized finance and their individual projects. By incorporating ZK Rollup technology for enhanced privacy, Nautilus Chain offers developers the Nautilus Developer platform, enabling customization through modules like DAPP-Chain, DAPP-Rollup, and DAPP-Subnet. This not only reduces operational costs but also bolsters security, and fosters greater autonomy (creating layers independent of Layer1, akin to Ethereum).
Our Collaboration and Long-Term Commitment
Our collaboration will begin with the deployment of Hats on the Nautilus chain, automatically supporting any project or token within the Nautilus ecosystem. However, the true significance lies in the long-term partnership, as both teams are deeply dedicated to web3 security infrastructure and enhancing the foundational technology of their respective platforms.
Distinctive Value of Hats’s Audit Competition:
The pivotal role of auditing smart contracts before deployment cannot be underestimated. This step is critical in guaranteeing the security of projects, chains, and users. While the need for multiple audits is now widely recognized, budget constraints often hinder projects from conducting additional reviews. Herein lies the unique proposition of Hats — the Audit Competition.
Adopting a “Pay for Results, Not for Efforts” Framework:
Hats’ audit competitions operate on a simple yet powerful principle — rewarding outcomes, not efforts. This ensures that projects only pay their allocated budget based on the severity of identified vulnerabilities. It is important to highlight that the Hats’ service fee is based on the payout amount. Thus, projects can conduct their audit competitions for free in the absence of identified vulnerabilities.
Nautilus’s Security-Centric Approach: Corresponding Fund Matching!
In partnership with Hats, Nautilus introduces a concept of corresponding fund matching for projects opting to deploy on the Nautilus chain. This approach incentivizes projects to adhere to the highest security standards during deployment.
Funding will be executed through two ways:
Higher Matching: Projects that undergo audits and participate in the Hats audit competition before launch will receive grant matching.
Lower Matching: Projects deploying on Nautilus without prior audits will receive a lower matching security grant to engage in an audit competition on Hats.
A Testimonial from Nautilus
“Nautilus Chain is the first payments-focused blockchain. Therefore, we need to prioritize security. We are thrilled to have Hats Finance as a part of the Nautilus Chain Ecosystem.
We love how Hats Finance goes about Web3 security; having bug bounties,skin in the game audits and audit competitions, while looking to become the go-to Web3 Security Marketplace.”
Our unique matching program with Nautilus’s a huge milestone for a safer crypto ecosystem. We extend our appreciation to the Nautilus team for spearheading this transformation, prioritizing security, and aiding us in our endeavor to foster a more reliable and resilient ecosystem for widespread adoption.
