Immunefi Bug Bounty Cover: Maximize Bounty Program Engagement. Reduce Payout Concerns.

We’re excited to launch Immunefi Bug Bounty Cover, powered by Nexus Mutual — our onchain cover product that reduces the project’s payout share for a critical bug discovered during an Immunefi bug bounty program.

In this article, we’ll explore what this product means for web3 projects, and why it’s a game-changer for onchain security as a whole. Let’s dive in!

The Problem: Unpredictable Payout Costs and Compromised Security

Critical vulnerabilities cost web3 projects millions — and worse than that, they can cost user funds, hard-won reputations, and market stability. The direct and indirect costs of exploits can be catastrophic, and in nearly all cases take months or years to recover from — if recovery is even possible.

Bug bounty programs are the last line of defense for projects, and they are an effective means of aligning the interests of leading security researchers with the security needs of onchain protocols and projects.

However, for a bug bounty program to be successful, you need to engage the best security talent. And to do this, your rewards need to be sizeable enough to motivate security researchers to hunt for bugs in your code.

These bounties need to be large — and the engagement for large bounties scales significantly. For example, larger bug bounty rewards lead to up to four times more overall security researcher engagement, and 13 times more engagement from elite security researchers.

The need for large rewards create budget uncertainty for projects, whose cashflow and operations can be affected by a large payout. As a result, some projects may not feel able to launch bug bounty programs with large enough rewards, while others might choose not to run them at all.

This is dangerous, as security is not something that should be a compromise.

This is where Immunefi Bug Bounty Cover from Nexus Mutual comes in.

The Solution: Immunefi Bug Bounty Cover

Immunefi Bug Bounty Cover integrates seamlessly with Immunefi’s bug bounty programs to protect your project. Here are the benefits for you:

• Attract top security researchers: Offer bounties that are competitive enough to draw in elite security talent.
• Mitigate budget uncertainty: Reduce your payout cost for critical bugs, with cover backed by Nexus Mutual’s $243M+ capital reserves.
• Comprehensive protection: Immunefi Bug Bounty Cover includes Nexus Mutual’s Native Protocol Cover for up to $25M at no additional cost, safeguarding your protocol from hacks up to the critical bounty amount.

Nexus Mutual: Leading the Way for Onchain Insurance Alternatives

Nexus Mutual is a clear frontrunner in the onchain insurance alternative space. With more than $5B in cover underwritten, they provide a transparent and fair way for web3 projects to cover the cost of securing their code.

To date, Nexus Mutual have:

• $5B+ in total cover underwritten
• $18M+ in total claims paid
• $107M+ in active cover
• $243M+ total capital reserves

Ready to Maximize Your Project’s Security With Less Financial Risk?

With Immunefi Bug Bounty Cover, you can run a top-tier bug bounty program while ensuring cost predictability and financial security.

Contact our Sales team today to get started.

Disclaimer:

Customer may elect to purchase bug bounty payment assurance/cover from Nexus Mutual that may reimburse Customer for the payment of certain rewards offered through its bug bounty program. Customer’s participation in any bug bounty payment assurance or cover program provided by Nexus Mutual or another third party shall not alter Customer’s obligations to pay rewards related to valid bug reports in any way. Customer shall remain solely responsible for payment of rewards to Security Researchers at all times. For the avoidance of doubt, any delay or failure by the provider of such program to pay a claim shall not be considered a valid justification for Customer to withhold or delay payment. Customer Participation in these programs is voluntary and is governed by your agreement with Nexus Mutual or another third party underwriting the program. Immunefi shall not be liable for any losses or damages sustained by Customer resulting participation in these programs for any reason. As in Contract: Customer may elect to purchase bug bounty payment assurance/cover from a third party that will reimburse Customer for the payment of certain rewards offered through its bug bounty program. Customer’s participation in any bug bounty payment assurance or cover program provided by a third party shall not alter Customer’s obligations to pay rewards related to valid bug reports in any way. Customer shall remain solely responsible for payment of rewards to Security Researchers at all times. For the avoidance of doubt, any delay or failure by the provider of such program to pay a claim shall not be considered a valid justification for Customer to withhold or delay payment. Customer Participation in these programs is voluntary and is governed by your agreement with the third party underwriting the program. Immunefi shall not be liable for any losses or damages sustained by Customer resulting participation in these programs for any reason.