Last week, Inverse's bug bounty contest for FiRM hosted on the Code4rena platform came to a close. The contest ran for 5 days, between October 25th and 30th, with a grant total of $50,000 up for grabs.
A proposal to grant the BBP multisig the allowance to fund the prize pool for the contest had passed earlier in the month with a strong show of hands. Following the April 2nd and June 16th incidents, Inverse’s core contributors have been enacting ways to improve our security posture. A crucial step in guaranteeing a flawless launch and continued operation of FiRM was to have new eyes look through the codebase.
Several qualified security projects and firms had been vetted by our RWG, and the vibrant community at Code4rena stood out to the team as both highly skilled and genuine. Needless to say, we were excited to get the wardens involved. These auditors are talented; participating in new contests every week, challenging themselves to learn, and showcasing their skills in order to make the DeFi ecosystem more secure. They were a joy to work with.
During the contest our devs 0xMT, Nour, and Yellowtail were hard at work, answering any questions or comments coming their way. Between them, we had round-the-clock coverage - never a dull moment!
While there was some internal apprehension about the duration of the contest, fearing we were not giving wardens enough time to both comprehend and review the codebase, we were pleasantly surprised when informed from the Code4rena team that our contest saw the highest number of active participants EVER- 198(!) Not only that, we received tons of messages of support, both publicly and privately, praising FiRM’s mechanics and elegance. A few of these are posted below:
We thoroughly enjoyed our experience working with Code4rena and the many, many wardens that participated in our contest. We see immense value in this form of auditing. Mitigating risk at this stage of our development is of paramount importance and we deem engagements of this kind necessary for any new major product launch. We look forward to a future partnership between Inverse and Code4rena.
More on FiRM soon…