Earn Big with ARMswap: Rewards for Spotting Security Flaws!

Security concerns are central to all kinds of digital transactions. Considering this, the rise of platforms like ARMswap is of high importance in providing protection and integrity to the DeFi landscape. For this, ARMswap has launched a Bug Bounty Programme (BBP), proving its commitment to providing secure cross-chain transactions to its users. It offers profitable rewards to both the developers and the users for detecting any potential security flaws or bugs in the platform’s interface.

Apart from earning rewards, individuals can also participate in the ARMswap's MVP Programme, which also include other types of bounty rewards. Plus, this discovery of potential vulnerabilities in the project also contributes to maintaining the overall stability of the system.

In short, the Bug Bounty Programme benefits the community members for their watchfulness, which indirectly benefits the platform. In this way, community members themselves contribute to enhancing the platform's security against potential threats and bugs. Let’s explore the scope, conditions, and intricacies that work behind the BBP to make the most of it.

Identification of ARMswap’s Security Flaws Through the Bug Bounty Programme

A Brief Overview 

BBP is ARMswap’s risk management initiative that holds a basic principle: Find bugs and get paid. This programme allows the community members to analyse, identify, and report any vulnerabilities causing risks to chain security. It runs on the fact that no system is immune to bugs. Even if one employs robust and advanced measures, vigilance and rigorous auditing are essential in the blockchain ecosystem.

Rewards You Can Get

By acknowledging the community members’ prominent role and rewarding them, ARMswap ensures enhanced safety of its system. This programme offers lucrative rewards to participants ranging from 5,000 to 100,000 either in ARMSP, ARMUP or USD. It is to encourage individuals from all around the world to participate in safety enhancement by identifying security vulnerabilities in the system.

Key Focus Areas

Bug Bounty programme mainly focuses on smart contracts and cross-chain security. This is because ARMswap enables smooth connections between multiple blockchain networks through blockchain bridges. These cross-chain bridges ensure asset transfer across 31 blockchain networks. Cross-chain transactions involve the transfer of crypto assets between selected blockchains.

This cross-chain functionality poses increased chances of vulnerabilities like hacking or manipulation. The network, however, understands the significance of safeguarding the user’s funds and private data. Here, the launch of this initiative comes to the rescue.

Another focus area is smart contracts and liquidity pools. These are prone to exploitation. Therefore, ARMswap employs this initiative to conduct continuous audits for improved safety.

Here's a breakdown of rewards for discovering various levels of bugs:

• Minor Bugs: 100 rewards of 5,000 USD/ARMSP/ARMUP tokens each.
• Major Bugs: 50 rewards of 20,000 USD/ARMSP/ARMUP tokens each.
• Critical Bugs: 20 rewards of 100,000 USD/ARMSP/ARMUP tokens each.

ARMswap’s Potential Security Flaws or Bridge Hacks That Need Thorough Consideration

Earning rewards through the programme is exciting, but you might wonder: what kinds of security issues qualify for rewards? The answer is simple—any bug that poses a risk to ARMswap’s functionality or integrity is eligible. Common examples of such bugs include:

• Vulnerabilities in the code that causes exploitation
• Loopholes in the smart contracts
• Defects in the transaction signing mechanism
• Security breach regarding authorisation

However, the range of bounty rewards depends on the severity and effect of the identified system bug. ARMswap holds the right to decide the validity of bug reports. It thoroughly evaluates the detected vulnerability and allocates the rewards accordingly.

Conditions Behind Consideration of ARMswap’s Security Flaws 

ARMswap’s Bug Bounty Programme calls for clear guidelines and conditions for a fair and transparent identification and allocation process. Responsible disclosure of flaws is vital for consideration. So, if you want to earn bounty rewards, you have to adhere to the following conditions strictly:

1. Follow Code of Conduct: Participants should comply with the code of conduct. It is to encourage respect, integrity, and professionalism during the overall cross-chain transfer.
2. Provide complete details: Do include adequate and complete information in your vulnerability disclosure. It is to allow the team’s engineers to understand and fix the emerging flaw timely.
3. Ineligible Reporters: It is better to report bugs as an individual. Yet, if one does as a company's employee, submission of the company’s written approval is mandatory. However, both the current and former employees, vendors, and contractors of ARMswap aren’t eligible.
4. Ineligible submissions: Report submissions from an individual who doesn’t comply with the rules and regulations of the country in which that person is residing won’t be counted as eligible for the rewards.

How Can You Submit Reports on ARMswap’s Security Flaws?

The participants can submit their bug reports via User Contribution Form under our Proof of Contribution system.

However, ensure that your submissions are clear and adequate, so the ARMswap’s team can comprehend them easily. Also, the difference between malicious attacks and security flaws should be clear for adequate report submission.

Wrapping Up

ARMswap, through its bounty rewards, encourages its community to actively participate in security enhancement and create a safe interface for themselves. In turn, this participation enhances the safety of the interface and creates a collaborative environment in the blockchain ecosystem. This collaboration further ensures transparency and accountability as the members themselves locate and identify potential security flaws.

So, as a community member, participate in the Bug Bounty Programme and shake hands with ARMswap in creating a system that offers secure and smooth transfer of crypto assets. Your active participation will not only favour the platform but also will open opportunities for you to earn rewards. Nevertheless, understanding the basic workings of the programme and adhering to all the conditions is essential to ensure big rewards for finding bugs.

Ready to start earning? Visit ARMswap Now!