Author
Euler Labs
Date
2025-02-20
Summary
As Euler has grown significantly in recent months, we propose increasing Euler’s bug bounty program from its current $1M USDC to $2.5M USDC + $2.5M rEUL. The resources would be provided by the DAO in the event of a valid high white hat report (criteria detailed in the Cantina documentation). This enhancement aims to strengthen Euler’s security posture, attract top-tier security researchers to explore Euler’s code, and further incentivize responsible disclosure of vulnerabilities.
Motivation
Security is paramount for Euler’s long-term success. A well-funded bug bounty program:
- Enhances security by attracting the best security researchers.
- Encourages responsible disclosure, reducing the risk of undisclosed vulnerabilities.
- Demonstrates Euler’s commitment to security and decentralization.
- Aligns with industry standards, where leading DeFi protocols have substantial bounties.
Whilst $2.5M USDC is already a large incentive for responsible disclosure of a critical issue, adding an additional $2.5M in rEUL helps further attract attention to the bounty program and align successful white hats with the long-term success of Euler. By increasing the bounty program, Euler will solidify its security-first approach, enhance trust within the DeFi community, and proactively mitigate potential vulnerabilities.
Let’s work together to make Euler more secure!
Voting
Given Euler’s recent move to an optimistic governance framework, no formal on or off-chain voting is currently required for this proposal to pass. However, we encourage the Euler DAO and community members to provide feedback, share suggestions, and voice their opinions on this initiative. Community input will, as always, be crucial to ensuring that Euler remains relevant, competitive, and risk-managed.
Implementation
Unless any concerns are raised or the DAO would like more time for consideration of this proposal, the Prime market will be actioned by the Euler Foundation in 2 days’ time.
Disclosures, disclaimers and copyright
The author of this proposal, Euler Labs, is contracted to provide software development services by Euler DAO. Copyright is waived via CC0.