MakerDAO, a leading decentralized finance (DeFi) protocol and creator of the stablecoin DAI, has partnered with Sherlock to host a record-breaking $1.35 million security audit contest. This initiative is a key component of MakerDAO’s Endgame phase, aimed at ensuring top-tier security for the protocol.
Contest Details:
- Dates: July 8 – August 5, 2024
- Platform: Sherlock, a Web3 audit contest provider
- Objective: Engage security experts and researchers to identify vulnerabilities in MakerDAO’s system
Endgame represents the final stage in MakerDAO’s long-term plan, focusing on overhauling governance to achieve a self-sustaining equilibrium. This includes reorganizing the decentralized workforce into self-sustainable DAOs called ‘SubDAOs.’
Jack Sanford, co-founder of Sherlock, highlighted MakerDAO’s dedication to security and the significance of the $1.35 million contest. He noted that top security experts and emerging researchers would participate, making this a historic event in the crypto security space.
Starting the week of July 1, top MakerDAO bug bounty hunters, along with “crypto legends,” will provide an educational breakdown and code walkthrough to prepare participants for the contest.
This partnership and contest mark a significant step in ensuring the security and robustness of MakerDAO’s Endgame phase, involving the best minds in crypto security.