Immunefi and Stacks Partner to Bolster sBTC Security
In an exciting development for the Bitcoin ecosystem, we’ve partnered with the Stacks Foundation to enhance the security of sBTC. In the initial phase of this collaboration, we’re introducing two new Attackathons designed to fortify sBTC, a revolutionary, Bitcoin-backed asset created to seamlessly move BTC between Bitcoin’s L1 and Stacks, the leading Bitcoin Layer-2.
About Stacks
Stacks is a Bitcoin L2 that enables smart contracts and dApps to use Bitcoin as a secure base layer. Stacks extends the capabilities of Bitcoin without changing Bitcoin, unlocking latent capital in the process.
Stacks transactions all settle to Bitcoin, and apps built on Stacks can interact directly with Bitcoin, meaning that the security, capital, and network effects of Bitcoin are fully leveraged. The release of sBTC will enable trustless writing to Bitcoin and the seamless movement of BTC between layers.
Strengthening Bitcoin’s Future with sBTC
Bitcoin’s unmatched security and liquidity have long made it a global leader in cryptocurrency. However, expanding Bitcoin’s utility without compromising its security is the next frontier.
The introduction of sBTC marks a transformative step toward programmable Bitcoin, unlocking its potential to activate over $1.2 trillion in BTC and create a market ten times the size of current DeFi ecosystems.
These two new Attackathons on Immunefi will play a critical role in identifying and resolving potential vulnerabilities, ensuring sBTC’s infrastructure is resilient and ready for broader adoption.
Here are the details:
Attackathon #1 — sBTC with Deposits Only
- Start Date: December 1
- Prize Pool: $250,000
- Yield Pool: a bonus reward equal to the yield generated from 1 Million STX over 3 months after the Attackathon will be distributed equally among all SRs who submit a valid bug report. Estimated to be worth about $50,000 USD as of December 2nd, 2024.
Attackathon #2 — sBTC with Withdrawals
- Start Date: January/February
- Prize Pool: $250,000
- Yield Pool: a bonus reward equal to the yield generated from 1 Million STX over 3 months after the Attackathon will be distributed equally among all SRs who submit a valid bug report. Estimated to be worth about $50,000 USD as of December 2nd, 2024.
Empowering the Security Community
Participants in the Stacks Attackathons on Immunefi will benefit from comprehensive educational materials. Resources include detailed explainers on Stacks technology, security guides, and direct support from core developers. This not only enhances the accessibility of sBTC for researchers but also strengthens their engagement with the Stacks ecosystem.
Part of the “₿est and the ₿rightest” Campaign
The Stacks Attackathons on Immunefi are part of Stacks’ “₿est and the ₿rightest” campaign, featuring global leaders in the Bitcoin space committed to activating the Bitcoin economy through sBTC. This initiative highlights top players from across industries and will showcase their contributions throughout November and December.
Join the Revolution
Immunefi is the leading onchain crowdsourced security platform, safeguarding over $190 billion in user funds. We’ve paid out over $110 million rewards to security researchers, and we’ve saved projects $25 billion in potential losses.
Immunefi Attackathons are education-based time-boxed security competitions which aim to stress-test the code of an ecosystem and its projects. They identify and fix potential vulnerabilities while creating an engaged community of researchers and enthusiasts around an ecosystem’s code.
By teaming up with Stacks and its partners, we are continuing our mission to fortify the Web3 and Bitcoin ecosystems through innovation and collaboration.
If you’re ready to shape the future of Bitcoin security, sign up today for the Stacks Attackathons on Immunefi — and play your part in strengthening Bitcoin’s evolving infrastructure.
Happy hunting!
Form link: https://docs.google.com/forms/d/e/1FAIpQLSepIL-1khl05n7IpWBgXKdKQ1HT9A1G4IUuaPeKzkbURxY7rw/viewform
