yAxis becomes an early adopter of ImmuneFi’s all new “War Room” crisis response hotline to further improve its smart contract security credentials.
The rise of Smart Contracts
Smart contract awareness, adoption and real-world usage is skyrocketing. Smart contract developers are building, iterating, and deploying new decentralized applications at an unprecedented pace.
Total Value Locked (TVL) within these applications has exceeded almost everyone’s expectations. DeFi (Decentralized Finance) is rapidly becoming a household name, with major traditional institutions piling into this nascent financial space.
With all the potential, comes a darker side. Insecure protocols with threadbare security provisions are ripe for the picking. Protocol exploits are becoming ever more common, and the high-profile losses of user funds threaten to derail the DeFi juggernaut.
yAxis’ take on smart contract security
yAxis does not want to become part of the lengthening list of projects hacked and drained of both their funds and their credibility.
From day one, security has been yAxis’ upmost priority. yAxis is double audited by prominent auditors Quantstamp and Haechi. In addition, yAxis has for the past five months ran an Immunefi Bug Bounty program focused on smart contract vulnerability reporting.
Protocol security is not binary. Threat vectors are constantly evolving, with hackers frequently finding new ways to probe attack and exploit. yAxis understands the nature of this hydra like enemy and is not content to rest on its security laurels.
That is why it was an easy decision for the yAxis team to fully embrace the concept of ImmuneFi’s “War Room” and accept ImmuneFi’s invitation to become one of the War Rooms founding participants.
What is War Room Alpha?
War Room Alpha is the first crisis response hotline for projects that utilize smart contracts and especially those projects operating within the DeFi space.
War Room Alpha allows “White Hat Hackers” (good hackers) and crisis managers to be compensated for preventing and mitigating hacks through emergency operations.
War Room Alpha alleviates crypto hacks and crises by creating a pool of war room experts that projects can call on at any time, to help manage crises and perform Whitehacks (Ethical Hacks).
War Room Alpha offers White Hat Hackers clear payment for their services. In return, participating projects gain a reliable, discreet, single point of contact to access proven security professionals in their time of need.
In crisis, War Room aids in
- Mitigating Severe Vulnerabilities
- Root Cause Analysis
- Crisis Comms Management
ImmuneFi’s War Room will add yet another level of security to the prodigious list of yAxis security features. We look forward to working closely with ImmuneFi in the coming years as the War Room develops into a premium security offering within the ever-expanding realm of DeFi and the smart contracts that power it.
Find out more about ImmuneFi’s War room here: https://immunefi.com/war-room/
Immunefi is the premier bug bounty platform.
Launched on December 9, 2020, focused on blockchain and smart contract security. ImmuneFi provides bug bounty hosting, consultation, bug triaging, and program management services to blockchain and smart contract projects.
yAxis is a DeFi yield portfolio that grows USD stablecoin balances through active management. A single vault that allocates capital across a range of farms.