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Liquidity Pledge Scheme on Cosmos: pStack Launches Vulnerability Reward on Immunefi

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On April 19th, it was reported that pStack, a liquidity pledge agreement, launched a vulnerability reward on Immunefi for its liquidity pledge scheme on Cosmos. The maximum reward

Liquidity Pledge Scheme on Cosmos: pStack Launches Vulnerability Reward on Immunefi

On April 19th, it was reported that pStack, a liquidity pledge agreement, launched a vulnerability reward on Immunefi for its liquidity pledge scheme on Cosmos. The maximum reward amount is $100000 and will be paid in USDC or USDT.

PStack Launches Vulnerability Rewards on Immunefi

With the increasing popularity of cryptocurrencies, the demand for secure trading platforms has been rapidly growing. The Cosmos network has been gaining attention for its efficient and scalable platform that allows developers to build their own blockchain applications. However, as with any online transactions, risks are present. In an effort to ensure the security of its liquidity pledge scheme, pStack, a liquidity pledge agreement, has launched a vulnerability reward program on Immunefi.

What is pStack’s Liquidity Pledge Scheme?

The pStack ecosystem is designed to offer liquidity solutions to decentralized exchanges and other DeFi applications. Their liquidity pledge scheme provides a bridge between the Cosmos and Ethereum networks, enabling users to benefit from the interoperability between the two blockchains. Users can pledge their tokens for a specific period, earning interest on their contributions. These funds are then used to provide liquidity to various protocols, with the goal of maintaining stable markets and facilitating trades.

What is the Vulnerability Reward Program?

A vulnerability reward program is a proactive approach to security, whereby users are incentivized to report any potential vulnerabilities or bugs in the system. The pStack team has partnered with Immunefi, a leading bug bounty platform, to launch their own vulnerability reward program. The aim of this program is to identify any weaknesses in the Liquidity Pledge Scheme, enabling the development team to quickly address any potential security issues. This will not only prevent losses but also protect the overall reputation of the platform.

How Does the Program Work?

The vulnerability reward program offers up to $100,000 in USDT or USDC, as a reward for identifying any critical vulnerabilities in pStack’s Liquidity Pledge Scheme. The amount of the reward will depend on the severity of the reported issue, with larger rewards being offered for more severe vulnerabilities. To be eligible for the reward, reports must meet certain criteria, such as being submitted through a secure channel and providing sufficient evidence of the issue.

Conclusion

The launch of the vulnerability reward program by pStack demonstrates their commitment to security and willingness to address any potential vulnerabilities. By partnering with Immunefi, they are able to encourage users to report issues in a safe and secure manner. This not only protects users but also strengthens the overall reputation of the platform.

FAQs:

1. What is pStack?
pStack is a liquidity pledge agreement that offers liquidity solutions to decentralized exchanges and other DeFi applications.
2. What is the Liquidity Pledge Scheme?
The Liquidity Pledge Scheme provides a bridge between the Cosmos and Ethereum networks, facilitating trades and maintaining stable markets.
3. How much is the maximum reward for the vulnerability reward program?
The maximum reward for the vulnerability reward program is $100,000 in USDT or USDC.

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