ApeCoin DAO approves 44 million bug bounty program on Immunefi

The ApeCoin DAO has voted to approve a $4.4 million bug bounty program with ethical hacking platform Immunefi, aiming to guard its upcoming token staking mechanism from hacks. ApeCoin is a decentralized autonomous organization (DAO) that oversees the development of apecoin, a token used within Yuga Labs. According to a snapshot vote that ended today, ApeCoin DAO members approved a proposal titled AIP-134, a funding request of 1 million APE ($4.4 million) for the bounty program to go live on an ethical hacking platform called Immunefi. Under the bounty program, researchers on Immunefi’s platform will win rewards for finding software flaws.