TL;DR:
- Paxos offers up to $1,000,000 in the USDG stablecoin for researchers who detect critical vulnerabilities in its Web2 and Web3 infrastructure.
- The program is launched in collaboration with Cantina, a leading audit platform, fulfilling previous commitments to the Aave and LlamaRisk communities.
- The initiative will cover core assets such as PYUSD, PAXG, and USDG, including smart contracts and cross-chain movements.
Paxos and Cantina join forces to bring a public Bug Bounty program to the market. This initiative seeks to attract researchers capable of identifying security flaws within the Paxos ecosystem, aiming to guarantee the integrity of its digital financial services.
This program was created due to the increasing complexity of threats in the crypto sector, where the capitalization of assets like Pax Gold (PAXG) and PayPal USD (PYUSD) requires a robust defense. With a seven-figure reward, economic incentives are aligned with the Total Value Locked (TVL) in their contracts, strengthening trust in their interoperability bridges and public APIs.
Since its inception, the company has maintained rigorous standards through third-party audits and constant penetration testing. However, the formalization of this bounty program adds an extra layer of external vigilance to detect “edge cases” or extreme use cases.
Through the alliance with Cantina, access to native Web3 communication with specialized technical expertise will be possible. This synergy is fundamental for holistically evaluating both traditional services and the firm’s decentralized innovations.
Expansion of surveillance in digital assets and smart contracts
During the first few months, the program will operate under an “invitation” basis, specifically for researchers active within the Cantina network. However, its scope is broad, covering everything from web domains and API services to the underlying infrastructure that allows the movement of assets between different blockchain networks.
The bounty payment will be made in the USDG stablecoin, underscoring the brand’s commitment to its own ecosystem of regulated assets. Not only will those who discover bugs be rewarded, but this strategy also promotes the adoption and liquidity of its new market launches.
With this launch, Paxos consolidates itself as a leader in compliance and security, inviting the global community to audit its systems to build a more resilient and transparent financial environment for all its users.
