Usual and Sherlock launch a $16 million bug bounty program

According to The Block, the decentralized stablecoin protocol Usual has partnered with blockchain security company Sherlock to launch a bug bounty program, offering a reward of $16 million for finding critical vulnerabilities in its codebase. This bounty surpasses those previously set up by Uniswap ($15.5 million), LayerZero Labs ($15 million), and Wormhole ($10 million).

The Usual codebase has undergone 20 audits, including the most recent Sherlock audit competition, but no medium or higher-level vulnerabilities have been found. Only those deemed critical are eligible for the highest reward. Usual currently manages over $880 million in total value locked (TVL).

Sherlock CEO Jack Sanford stated that this collaboration aims to promote the integrity development of DeFi and enhance trust throughout the entire ecosystem.