Members of the ApeCoin DAO council have proposed allocating 1 million APE of treasury assets to an AIP-21 bug bounty program.The new bounty program will ensure that the DAO always has resources available to allocate to white hat hackers who are protecting the APE holders.
The proposal would extend the timeline of AIP-22 until the end of the proposed bug bounty period in this AIP.
ApeCoin staking is going live soon. It is a significant allocation of treasury resources and will require smart contract interaction from APE holders.
Although its contract has already been through at least one audit, it is prudent for the DAO to implement a bounty program prior to going live. The bounty program adds an additional layer of security. It will reduce the risk to APE holders and the DAO.
Details of the program are yet not decided and are TBD with community feedback in the initial draft phase. The Apecoin Foundation will maintain discretion on the payouts for vulnerabilities after assessing with expert parties.
The new bug bounty program would delay the ApeCoin DAO’s staking by 2-4 weeks, and its proposer Marib Bajwa apologised to everyone in advance for the last hour changes.
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