Hats Finance Partnership with Solace
Hats Finance Partnership with Solace, allowing more projects to create decentralized bug bounties while receiving insurance coverage.
Hats will onboard new bug bounty vaults of projects that join Solace’s new insurance solution, Solace Native, by matching all critical-level payouts of up to $100k. This partnership will allow us to onboard more vaults and strengthen security of already insured projects. They believe this is the right path for projects that are looking to maximize their level of security while keeping investors at ease. As Hats Finance announced its partnership with Solace.
Hats.finance mechanism
- Smart contracts are continuously offering a bounty in the form of their value or the value that is locked by them. Extracting this value in a malicious manner causes more harm to the ecosystem than the size of the extracted value.
- Incentivize continuous audit for smart contracts
- Hack or exploits have an effect on the adoption of all smart contract projects and the ecosystem itself. Ecosystem adoption could be boosted if we could reduce this risk.
- The future of the economy is being withheld by the forces who try to hack it. Hats.finance incentivizes both parties to collaborate towards the success of the ecosystem.
About Solace
Solace is an insurance dApp that builds coverage products for smart contract exploits. Solace’s mission is to make DeFi insurance a trustworthy, scalable, and transparent experience. The $SOLACE token powers the Solace DAO, so community members can take part in the development and governance of the protocol. In addition to providing insurance, Solace works closely with DeFi security solutions to increase the protective and preventive measures against smart contract hacks.
About Hats Finance
Hats Finance is a decentralized bug bounty platform that allows anyone to add liquidity to their favorite bug bounties. Hats unique advantage is their decentralized, permissionless, and scalable nature which allows projects to open a bug bounty vault using their own native token, and grow white hat incentives as the project grows in success and token value.
