Cream Finance announced last Tuesday, April 20, through its Twitter account, the launch of its $1.5 million bug bounty program, together with Immunefi, focused on strengthening the CREAM protocol, API, and website security.
“CREAM Finance is working with Immunefi, Armor.fi and DeFiSafety to bring greater security to the CREAM Finance protocol and the broader DeFi ecosystem. The security campaign begins this week with the launch of a $1.5 million bug bounty program, with Immunefi, focused on strengthening the CREAM protocol, API and website security”, he said through an article published in the Medium platform.
The company explained that the bug bounty is focused on smart contracts and the CREAM Finance web application. While ensuring that white hat hackers who reveal vulnerabilities in the protocol will be rewarded.
In addition to the bug bounty with Immunefi, CREAM Finance indicated that it is working with Armor.fi to provide users with the ability to secure funds against exploits. “Armor.fi incentivizes DeFi users to underwrite risk in the listed protocols, providing rewards to those who take the risk”, he added.
The co-founder and project leader of CREAM Finance, Leo Cheng, highlighted that “security is the key to mature the decentralized financial ecosystem and bring emerging financial technology to more users around the world. We are providing greater transparency in projects through DeFiSafety, avoiding hacks with Immunefi and providing a clear path for users to purchase insurance coverage with Armor.fi”.
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Notably, Cream Finance noted that it received a score of 83% in an independent security review by DeFiSafety, a company that provides comprehensive third-party verification of project quality, risk, and transparency. “(A score of more than 70 points is considered a passing score)”, he said.
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