MakerDAO and Sherlock partner for groundbreaking 135M security audit competition

MakerDAO, a well-established decentralized finance (DeFi) lending protocol, and the originator of the stablecoin DAI, has made public a $1.35 million audit competition, which is the largest of its kind.
The competition will be held on the Sherlock Platform, a Web3 audit competition provider, and will be a crucial part of MakerDAO’s initial phase of Endgame, scheduled for the summer of 2024.
Beginning on July 8, the competition will run until August 5, with the goal of involving security experts in the field and up-and-coming researchers to detect vulnerabilities.
Endgame, which is part of the MakerDAO’s long-term plan, refers to the final stage of development. It seeks to revamp governance to establish a self-sustaining equilibrium known as the Endgame State.
Rune Christensen, the co-founder of MakerDAO, emphasized the significance of thorough security testing for the Endgame launch:
In a written Q&A with Cointelegraph, a representative for MakerDAO stated:
Sherlock collaboration
Jack Sanford, the co-founder of Sherlock, highlighted MakerDAO’s dedication to security following the launch of the record-breaking $1.35 million audit competition.
Sanford shared details about the upcoming four-week bug hunt, stating:
Discussing the decision to host the competition on Sherlock, the MakerDAO spokesperson told Cointelegraph:
Pre-contest debugging
During the week of July 1, the leading MakerDAO bug bounty hunters will offer an educational breakdown together with the MakerDAO team and “crypto legends” providing a “code walkthrough.”
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