Augur Offers $200,000 Reward To Those Who Find Protocol Vulnerabilities

With the latest announcement from Augur (REP), white hats that identify key security flaws can win a good payday.

Augur (REP) is a blockchain project that develops decentralized prediction markets between peers. It has now officially announced this week a $200,000 reward for those who can identify critical vulnerabilities in the project protocol. The deadline to participate in the search is July the 9th.

According to the announcement, the company has offered paying out bounty rewards that fall into four different severity categories based on the Common Vulnerability Scoring Standard (CVSS). And as such, the largest payment, worth $200,000, will only go to hackers who find the most critical problem within the protocol.

At this point before the release, the types of bugs that the Augur team is most concerned about would be directly related to problems with the project contract code that result in lost funds or the platform breaking down or becoming unusable.

The Augur community hopes to quickly identify any protocol issues before the July 9 date, when the REP token migration to the project's mainnet will begin. The entire migration process will take place internally. So the current holders of tokens, centralized exchange users, and non-custodial decentralized exchange users are not obliged to do anything during this transaction.

This innovative network is designed to leverage real-world information from the crowd to enable the creation of decentralized, peer-to-peer forecasting markets. Using its platform, users can create predictive markets, trade market shares, and even participate in the reporting system to keep the Augur oracle honest for symbolic rewards.

The network is fully operational on the Ethereum blockchain. And right now it is quickly preparing for the public release of its beta in July. The project currently has a market capitalization of $395 million.