New Bug Bounty Alert: Welcome InsureDAO

A new partnership with InsureDAO begins! A couple months back we announced our beginner partnership with InsureDAO allowing projects to be insured and simultaneously open a bug bounty using their native token or the insurance underwriting LP token. This allows projects to earn insurance premiums while providing liquidity both in their bug bounties and insurance plans.

Today we extend that partnership by creating a decentralized bug bounty vault for InsureDAO.

About InsureDAO

InsureDAO is a peer-to-pool insurance market protocol built on Ethereum. The operation and management of the protocol are controlled by a DAO, and anyone with access to Ethereum can create, purchase, and underwrite any insurance without KYC.

InsureDAO allows users to create any insurance pool like anyone can create any liquidity pool on Uniswap, since InsureDAO separates insurance pools for each protocol the risks are segregated. Therefore, any insurances, including even risky protocol insurance, will be available to buy and sell on InsureDAO.

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 are excited to extend our partnership with InsureDAO, and we look forward to helping them increase their security. For future announcements on partnerships and news, follow Hats Finance on Medium and Twitter.