Usual Partners with Sherlock to Launch Record-Breaking $16 Million Bug Bounty Program
By Darya Nassedkina
Published April 2, 2025
Edited by Dorian Batycka
In a pioneering move within the cryptocurrency space, stablecoin protocol Usual has joined forces with blockchain security firm Sherlock to launch the largest bug bounty program in crypto history, offering a staggering $16 million for discovering critical vulnerabilities. This bounty eclipses the previous record held by Uniswap, which was set at $15.5 million.
Major Initiative for Security Enhancement
The initiative, as reported by The Block, aims to enhance the security framework of Usual’s platform by identifying significant flaws in its codebase. The bug bounty program will operate on Sherlock’s platform, where only critical vulnerabilities that could lead to losses or freezing of funds for over a year will be eligible for rewards. This specification emphasizes the program’s focus on significant risks over minor issues.
Prior to this massive bounty announcement, Usual’s codebase underwent extensive scrutiny, including 20 audits. The latest audit came in the form of a contest hosted by Sherlock, which featured a prize pool of $209,000, yet no vulnerabilities were found during these assessments.
A Growing Trend in Crypto Security
The large-scale bug bounty initiatives reflect a growing trend among cryptocurrency projects to prioritize security. Notably, Sonic Labs recently collaborated with Immunefi to offer a $2 million bounty, and Compound Finance has also initiated a $1 million bounty program with the same partner.
With Uniswap’s previously established bounty of $15.5 million now overshadowed by Usual’s ambitious new program, the cryptocurrency community is watching closely. Usual’s decision to allocate such a substantial sum indicates their commitment to safeguarding user funds—a reassuring message as the overall market for decentralized finance (DeFi) continues to evolve.
Significant Impact on the Crypto Landscape
According to Usual, the introduction of this record-breaking bounty is “a powerful statement” reflecting their dedication to the security of their protocol, especially with over $880 million in Total Value Locked (TVL). This substantial investment in security is expected to boost user confidence and contribute to the overall stability of the crypto ecosystem.
In conclusion, as security threats evolve in the cryptocurrency space, Usual’s partnership with Sherlock and the launch of a $16 million bug bounty program sets a new benchmark for safety in the industry and paves the way for other projects to follow suit. With such initiatives, the crypto community moves closer to creating a more secure financial environment for all users.
Share this article:
