A 10 million RAY Token bug bounty program is being proposed by Raydium for launch
Key Points:
- The Solana-based cryptocurrency exchange Raydium has announced their intention to establish a $2 million Bug Bounty Fund.
- This proposal is part of a larger project by Raydium to get more members of its community involved in setting protocol standards.
The cryptocurrency exchange Raydium, based in Solana, has proposed a Bug Bounty Fund of approximately $2 million.
A bug bounty program with a reward pool of 10 million RAY tokens—equivalent to approximately $2.3 million—is being proposed by members of the decentralized exchange Raydium, which is based in Solana. The goal of the program is to find issues that interfere with the basic smart contracts of the protocol.
The protocol’s pseudonymous head of partnerships, InfraRAY, stated in a message published on the project’s Discord channel on Wednesday that the initiative will target smart contracts associated with Raydium’s Concentrated Liquidity Market Maker. These lines of code control how Raydium manages cryptocurrency trade on the Solana blockchain.
The total value of the frozen Raydium liquidity pools was almost $37 million at the time of publication. This is about three-quarters of the TVL that Orca, DefiLlama’s most well-known decentralized exchange for Solana, owns. CoinGecko estimated that the native token, RAY, had a value of 23 cents as of Thursday. It has decreased by 2% in the past 24 hours.
Get to know Godleak
Godleak crypto signal is a service which comprise of a professional team. They tried to provide you signals of best crypto channels in the world.
It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.
Godleak crypto leak service have multiple advantages in comparision with other services:
- Providing signal of +160 best crypto vip channels in the world
- Using high tech bot to forward signals
- Without even a second of delay
- Joining in +160 separated channels on telegram
- 1 month, 3 months , 6 months and yearly plans
- Also we have trial to test our services before you pay for anything
For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features
https://t.me/Godleakbot
Also you can check the list of available vip signal channels in the bot. by pressing Channels button.
Under the plan proposed by InfraRAY, white hat hackers would be eligible for a payout of up to $505,000 or as little as $5,000 in RAY tokens. How much the award would be reliant upon the seriousness of the issue that was found. Its administration would fall under the purview of Immunefi, a bug bounty management platform.
InfraRAY, who talked to CoinDesk over Telegram, said that the idea, which was posted in a special “forum” on Raydium’s Discord server, is part of a larger effort to get the community more involved in the protocol’s management.
