We’re thrilled to announce that Babylon Labs has launched a new bug bounty program on Immunefi, offering up to $1,000,000 in rewards to ensure the security of its groundbreaking Bitcoin staking protocol.

Babylon is transforming Bitcoin’s role in the blockchain ecosystem by introducing trustless, self-custodial staking. Babylon allows Bitcoin holders to stake their BTC in Proof-of-Stake (PoS) systems and earn rewards while maintaining full custody of their assets. No longer do Bitcoin HODLers need to trust third-party custodians to bridge their Bitcoin for staking purposes. Instead, Babylon’s protocol enables them to participate in staking securely and transparently.

Why Babylon Matters for Bitcoin

Since Bitcoin’s inception in 2009, it has served primarily as a store of value and payment system. Babylon’s protocol introduces a third utility for Bitcoin — staking — allowing holders to earn rewards while contributing to the security of PoS systems. This marks a significant leap forward for Bitcoin’s role in decentralized finance (DeFi) and opens the door to new possibilities for Bitcoin users.

The Babylon protocol is designed with a focus on security. By ensuring that Bitcoin holders maintain full control over their private keys and that malicious actors can’t slash staked funds, Babylon ensures that no one can steal or compromise staked Bitcoin as long as the protocol is followed.

Bug Bounty Program Overview

The Babylon Bug Bounty Program is now live on Immunefi, offering rewards based on the severity of vulnerabilities found in the protocol. The reward pool for Blockchain/DLT includes:

• Critical vulnerabilities: $50,000 to $1,000,000
• High severity vulnerabilities: $20,000 to $200,000
• Medium severity vulnerabilities: $5,000 to $20,000
• Low severity vulnerabilities: $1,000 to $5,000

The reward pool for Web/App includes:

• Critical vulnerabilities: $10,000 to $100,000
• High severity vulnerabilities: $10,000
• Medium severity vulnerabilities: $5,000
• Low severity vulnerabilities: $1,000

Join us in securing the future of Bitcoin staking. Start your journey as a security researcher today and help Babylon Labs protect Bitcoin HODLers everywhere!

About Immunefi

Immunefi is the leading onchain crowdsourced security platform, connecting security researchers with blockchain projects to secure their ecosystems. With a community of over 45,000 researchers, Immunefi has prevented more than $25 billion in potential losses across web3, and has paid out more than $100m to whitehats in return.