We’re excited to announce that IDEX has launched a Boost on Immunefi, offering $45,000 in rewards in return for keeping their exchange secure!

IDEX is a high-performance decentralized perpetual swaps exchange. By combining an off-chain order book, matching, and liquidation engine with on-chain custody and settlement, IDEX delivers the speed and efficiency of traditional trading systems along with the transparency and security of blockchain technology.

Operating on XCHAIN, an IDEX-specific Arbitrum Orbit layer 2, the platform supports gas-free and nearly instant settlement of transactions, with positions collateralized by USDC via Stargate’s Hydra protocol.

The IDEX Boost covers multiple smart contracts critical to its operation. Notable contracts include Custodian.sol, EarningsEscrow.sol, and Exchange.sol among others, with the total lines of code amounting to approximately 6,000.

The reward pool for this Boost is as follows:

• $45,000 if Critical or High severity vulnerabilities are found.
• $30,000 if no Critical or High are found.

Rewards are paid in USDC, and the payout distribution is managed directly by the IDEX team based on the severity of the identified vulnerabilities.

The IDEX Boost is running from Tuesday, July 30th, until Friday, August 16th. For more information, including detailed asset lists and submission guidelines, please visit the IDEX Boost page on Immunefi.

About Immunefi Boosts

Boosts are time-bound, crowd-sourced security audits conducted at crucial development milestones. They involve top-tier blockchain security researchers, ensuring vulnerabilities are identified and addressed swiftly and comprehensively. Boosts are designed to harden code post-audit, at testnet, or even before launching a mainnet bug bounty.

In the first half of 2024, $920,940,078 was lost due to hacks and fraud, a 24% increase from the previous period. This highlights the critical need for continuous security investments throughout the development lifecycle.

Immunefi has the largest, most prolific, and highest-quality community of security experts in the industry and leads the way regarding chain security. Our community comprises over 45,000 researchers who have collectively prevented more than $25 billion in potential losses.