New Vault Alert: Welcome PhononDAO
We are excited to welcome PhononDAO to the Hats ecosystem! This unique partnership will take part in two steps; starting with a short term grant vault that will incentivize pre launch vulnerability disclosure, which will later develop into an ongoing bug bounty program.
About the partnership
Almost two months ago, we announced our The grant vault, permissionless feature that allows anyone to create a decentralized vault that incentivizes certain behaviors; this can include finding a bug for a limited period of time, developing code, or launching project campaigns.
Phonon DAO will be creating a Grant Vault with a specific security tasklist, including penetration testing, and finding vulnerabilities such as double spending and private keys duplication. It is important to mention that to qualify for any bug bounties, security researchers must first order and receive the phonon developer kit, which they can redeem for $250 USD in $Phonon after the completion of their testnet tasklist. More complex vulnerabilities will be paid as a bonus via the grant vault.
Phonon Protocol is an advanced payments Protocol that can turn any digital asset into cash. The Phonon Protocol allows for the exchange of newly minted private keys, from any blockchain, securely, privately and peer to peer. This cryptographic primitive is built by a unique team of Web3, electrical, manufacturing and blockchain engineers who have been developing the Protocol since late 2019. This unique, cross-functional team has been able to develop the world’s most scalable protocol; one that has zero dependencies on any other blockchains and does not even require the internet to function.
About Hats Finance
Hats Finance is the first of its kind, community-owned and decentralized bug bounty protocol. Because security exploits affect all parties involved, Hats Finance facilitates community involvement by allowing users to provide liquidity to their favorite bounties and earn $HAT tokens once they become available. We hope that by allowing community involvement we can raise awareness on the importance of security in crypto while encouraging white-hat hacker involvement.
We look forward to this amazing partnership! Learn more about the vault details or deposit to the vault here