Sherlock

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Frequently asked questions

How can I request an audit for my protocol?

To request an audit for your protocol, you can use Sherlock, which offers the most thorough security audit in Web3. By putting your protocol's smart contracts through Sherlock's audit, you can ensure the security of your protocol. Additionally, Sherlock offers an audit contest where you can compete against top crypto security experts and earn USDC while finding bugs. The audits provided by Sherlock are backed by smart contract coverage, making them highly reliable. In the event of a hack, Sherlock offers up to $5 million of reimbursement, and each covered protocol is given a $500k bug bounty. The claims process is trustless, and payouts are done entirely through smart contracts. Many protocol teams have recommended Sherlock audits before deploying on mainnet, as they have proven to be the most effective and secure audit provider in Web3.

How can I participate in the audit contest and earn USDC?

To participate in the audit contest and earn USDC, you can join Sherlock, a platform that offers the most thorough security audit for smart contracts in Web3. By competing against the world's top crypto security experts, you can find bugs and earn USDC. Additionally, you can tap into uncorrelated APY by staking your USDC behind the most secure protocols in crypto. Sherlock also provides up to $5 million of reimbursement in the event of a hack and offers a bug bounty of $500,000 for covered exploits. To get involved, you can join the contest as a Watson or apply to become a top contributor.

What is the benefit of staking USDC?

The benefit of staking USDC is that it allows individuals to earn top-of-market yields by putting their USDC behind the most secure protocols in crypto. Additionally, staking USDC is backed by smart contract coverage, providing an extra layer of security. In the event of a hack, stakers can receive up to $5 million in reimbursement, and each covered protocol is given a $500,000 bug bounty. Staking USDC also allows individuals to compete against top crypto security experts and potentially earn USDC by finding bugs.

Why are audits backed by smart contract coverage important?

Audits backed by smart contract coverage are important because they provide a thorough security audit for protocols' smart contracts, making the crypto space safer. Sherlock, a leading underwriter in Web3, offers audits that combine the best parts of legacy audits and audit contests, resulting in the most secure audit in Web3. These audits are backed by real USDC, making Sherlock the most effective auditor in Web3. In the event of a hack, protocols covered by Sherlock's audits are eligible for up to $5 million in reimbursement, along with a $500,000 bug bounty for covered exploits. Additionally, Sherlock's trustless claims process ensures that payouts are done entirely through smart contracts, without the ability to block a claim from being paid out.

How does the trustless claims process work?

The trustless claims process works by conducting payouts entirely through smart contracts. Sherlock, the platform facilitating the claims process, does not have the ability to block a claim from being paid out. This ensures that the process is transparent and eliminates the need for trust in a centralized authority.

What is the reimbursement amount in the event of a hack?

The reimbursement amount in the event of a hack is up to $5 million.

What is the bug bounty amount for covered exploits?

The bug bounty amount for covered exploits is $500,000, paid for by Sherlock.