Does Your Favorite DEX/DeFi Platform Have One??

This should be the second thing you check for when considering which DEX or DeFi platform to use.

For me personally I check for a recent audit, and if previous discrepancies have been fixed and in a timely manner. This indicates a reliable and capable dev team.

The second thing is a bug bounty program. Are they investing in the security of their project? How much is their bug bounty program worth? How much money are they willing to pay to ensure their code is as free from bugs as possible and therefore unappealing to hackers?

There is still no guarantees in crypto, but this is a decent start.

Lido has a $2M bug bounty (the most valuable one I’ve seen until this update from Uniswap)
Now Uniswap has $2.5M bug bounty available.

We are by no means sponsored by Uniswap, but this is a great sign. I know there are other great DEXs such as 1inch that can offer better fees and perhaps more competitive prices, but I have yet to see a bug bounty program there.

Just my two satoshis.

-H

Uniswap to dole out rewards for those who…
In an attempt to alleviate fears around DeFi security, Uniswap launched a bug bounty program to “incentivize responsible bug disclosure”.
AMBCrypto