The Grant Bounty
We are thrilled to introduce the Grant Bounty as part of our V2 initiative to invite all players of Web3 to get involved in security. The Grant Vault allows anyone to create permissionless vaults that incentivize certain behaviors; this can include finding a bug for a limited period time, develop code, or launch project campaigns.
As part of this initiative, Hats is excited to welcome Panda DAO as the first use case of the Grant Vault. They have committed 350,000 $PANDA to users who engage in their buyback initiative and NFT drop. Excited to have them on board!
The Bigger Picture
One of the major obstacles that Web3 security faces is that most users are not active participants in securing the projects they are part of. The Grant Vault allows any project to create content vaults and engage community members in the growth and security of the project while rewarding them with tokens, NFTs, and more. Vault creators have the ability to create any task they desire.
About Panda DAO
PandaDAO is one of the largest decentralized product development DAO in the Web3 space with the most contributors registered in Dework. The aim of the DAO is to produce tools for all types of Web3 participants including retail and institutional investors, as well as other DAOs in the space. In less than a week, PandaDAO’s innovative ERC721P and Random Panda Club NFT are officially going live. To support their investors and the revolutionary features from the ERC721P protocol, PandaDAO has voted to initiate a buyback program with no limit on the total buyback amount.
Hats Finance X Panda DAO Partnership
Hats Finance will facilitate a vault for Panda DAO with the following characteristics
- 7 day bug bounty contest to bring in security experts and devs to find vulnerabilities.
- Protect Panda smart contracts through decentralized vulnerability disclosure.
- Incentivized content creation related to Panda DAO and security.
- Support Panda DAOs treasury efforts of buying back $PANDA from holders, and in return holders can retrieve $DAI from the contract.
- Support their initiative to stabilize token price to $0.005 DAI.
- Incentivize supporters of Panda DAO and create benefits for holders.
- Create a backing mechanism for Panda DAO.
Total prize pool: 350,000 $PANDA
Critical Issue: 5 free mints, each worth 50,000 $PANDA
Non Critical: 80,000 $PANDA
Gas Optimization: 20,000 $PANDA
1. 100,000 $PANDA for Non-Critical Issues & Gas Optimization will be deposited in the vault directly and distributed immediately on 8/15 when the event ends.
2. 250,000 $PANDA for Critical Issues in the form of free mints will be distributed after the Whitelist mint ends (8/16) and airdropped to the winners.
To participate in the vault, please visit the app.hats.finance