Terra Luna Classic announces bug bounty program to eliminate vulnerabilities

Terra Luna Classic’s developer group Joint L1 Task Force introduces a bug bounty program. The move invites security researchers, ethical hackers, and developers to identify, report, and (or) fix possible vulnerabilities within the blockchain.

The J1TF will use donations from the cryptocurrency community to fund the bounty rewards and incentives.

Terra Luna Classic’s bug bounty program

J1TF project manager LuncBurnArmy tweeted that proposal 1160 (Luna Classic bug bounty program) was ready for voting. With the group aiming to reduce circulating USTC and LUNC supply in the third quarter, it remains crucial to eradicate possible bugs within the Terra Luna network, especially after the latest upgrades.

The bounty program will stabilize the blockchain and strengthen security while ensuring improved functionality and rewards for participants who identify vulnerabilities. Initially, the L1 Task Force planned 50 million LUNC tokens to fund the initiative in Q3.

The program invites independent developers, security experts, and community members, provided to maintain legal guidelines and ethical standards. That can mean individuals that can avoid malicious activities.

The reward model

Participants will enjoy bug bounty bonuses in different ways, including prizes for confirmed security weaknesses, with more incentives for developing patches. Moreover, the rewards range between 150,000 LUNC and 20 million LUNC tokens. Terra Luna Classic validators and the community have so far supported the proposal.

LUNC price outlook

Crypto prices flashed bearish actions over the past day as Bitcoin finds footing well beyond the $30K mark. The bellwether crypto lost 0.77% in the last 24 hours to its press time value of $30,782. The alt market continues to fluctuate in tandem with Bitcoin’s actions.

Meanwhile, the bug bounty program represents a crucial move for the Terra Luna Classic blockchain. While market participants contemplate how the initiative will impact LUNC price actions, the altcoin trades at $0.000098, with over 3.75% 24hr surge.

Considering the surged trading volume within the last 24 hours, LUNC shows bounce-back signals. Further, the latest program launch will likely trigger bullishness, catalyzing near-term price recoveries. Broad market support can see the altcoin hitting $0.001 before climbing to a long-term target of $0.001.

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