Hats.Finance, a decentralized cybersecurity incentive protocol, announced plans to launch their first protocol protection mining yield farming operation (PPM). Hats Finance, a protocol built on Ethereum, the world’s largest blockchain, aims to create a base layer standard for the next generation of Defi projects, large and small, by providing these projects with the ability to secure their smart contracts by placing bounties with their native tokens. 

The benefit of Hats Security bug bounty is that “it does not cost anything unless there is a disclosure that could have been a lot more costly if the program did not exist,” the Hats team explained. 

Hats believes that incentivized security is the future of cybersecurity because it is consistent with the culture and development practices of Web3. According to the official announcement from the Hats team, “the unique scalability Hats offer is that as the project grows in success and value, so will the bounties offered by the protocol.” Furthermore, Hats believe that a decentralized ecosystem like theirs will attract those who can offer their services, such as white hat hackers, auditors, security experts, and even black hat hackers, if enough incentives are provided. 

The Hats team has been designing and implementing incentives to reward their community for long-term participation