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Uniswap Labs has initiated the largest bug bounty campaign valued at up to $15.5 million to identify potential flaws in its v4 core smart contracts. This move aims to enhance the security of Uniswap’s decentralized exchange (DEX) platform and protect user funds from possible risks.
$15.5 Million Reward
The launched bug bounty program encompasses vulnerabilities in all contracts distributed by Uniswap Labs, as well as undistributed v4 core contracts. Additionally, errors in other smart contracts where user funds might be at risk are also assessed under this program. This comprehensive approach not only aims to bolster security within the Uniswap Labs ecosystem but also encourages ethical hacking practices.
Bug Bounty Program and UNI
The announcement of the $15.5 million bug bounty coincides with fluctuations in the price of Uniswap Labs’ native token, UNI. In the past week, the price of UNI increased by 15%, starting at $9.38 and stabilizing around $10.88 after surpassing $12 mid-week. This increase is attributed to renewed optimism in the DeFi market and proactive measures taken by Uniswap Labs to improve security.
Recent price analyses indicate that the price of Uniswap (UNI) is poised for a 30% breakout after completing a six-month correction. The UNI price, which reached its highest level since June, is expected to rise to $12 alongside increasing investor interest.
The bug bounty campaign launched by Uniswap Labs stands out as part of broader efforts to enhance blockchain security. Such programs contribute to safeguarding user funds while increasing platform security. Thanks to the contributions of white hat hackers, potential security vulnerabilities can be identified in advance, fostering a more secure ecosystem.
