Hacken, a leading blockchain security auditor, announces the upcoming launch of DualDefense Flash Pools, a platform that combines real yield with community-driven security enhancements in decentralized finance (DeFi). Scheduled to go live in the coming weeks, this product aims to address existing shortcomings in the sector by offering sustainable financial models and robust security measures.

In the DualDefense model, clients request an audit from Hacken, which conducts a thorough security assessment of their project’s code. After completing its own audit, Hacken opens a 30-day smart contract-based DualDefense Flash Pool. The Hacken team contributes USDC into the Flash Pool, and $HAI token holders can stake their tokens as well. Independent security researchers from the HackenProof platform are then invited to review the code. If they discover any critical vulnerabilities, they earn rewards from the Flash Pool.

Clients benefit from enhanced security and comprehensive protection at no extra cost, while $HAI stakers can earn up to 180% APY from the Flash Pool. This model ensures that returns are not generated from inflationary token emissions that often lead to unsustainable growth and diminished value over time. Users benefit from real market activity, marking a significant shift toward more sustainable financial models in DeFi.

Hacken also introduces the first-ever prediction market tied to audit verification. Unlike traditional prediction markets associated with speculative activities, this tool provides real-world utility for decentralized security practices. Users who stake in the Flash Pool essentially bet that Hacken has performed a thorough audit of the project. As the crypto community stakes $HAI, increasing the size of each Flash Pool, white hat hackers are motivated to join the code audit verification — this approach offers competitive profitability while improving the code security.

Advertisement

“We’re open to feedback in the Web3 world,” says Hacken’s CEO, Dyma Budorin. “We put our skin in the game, bold enough to reveal the results of our work. We’re committed to transparency and trust, striving to improve the industry by making bug bounties accessible to all, even the smallest projects that previously couldn’t afford it. A win-win-win situation for all parties involved.”

Allowing the community to double-check Hacken’s audits is a bold move that puts the company’s reputation on the line for the sake of security. The industry faces significant challenges with projects using poorly secured code. According to industry reports, over $1 billion was lost in 2023 due to hacks and security breaches in DeFi protocols. It continues to remain a critical issue this year, as over $171 million was stolen from DeFi projects in Q2 2024. To address this issue, Hacken adds an extra security check performed by independent security researchers. The project incentivizes them with rewards from the Flash Pool while keeping this completely free for clients.

The company believes that aligning the interests of users, investors, and developers can create a positive feedback loop that promotes sustainable growth and enhances the overall health of the DeFi market. In the upcoming release, Hacken will open bug bounties within Dual Defense Flash Pools even for the smallest and budget-constrained projects — and welcomes other market participants to join this venture. This approach protects every crypto user by raising security standards across the entire industry, while giving participants the chance to earn significant returns.

The post Hacken to Launch DualDefense Flash Pools, Crowdsourced Audit Rewards appeared first on HIPTHER Alerts.

Advertisement