MakerDAO reportedly shared details of its initiative to roll out up to $10 million in bounty to whitehat hackers and cybersecurity experts, who discover legitimate security threats in its smart contracts.

Specifically, Maker’s (MAKER) plan to front-run attacks on its smart contracts will reportedly secure the top spot in the list of largest recorded on the bug bounty platform Immunefi.

As a matter of fact, should an individual manage to snatch the bounty, it would reportedly be equivalent to the entire amount of $10 million that Immunefi has paid out to date from active and inactive events.

Its website further revealed that the bugs discovered have helped it prevent a maximum of $20 billion in financial damages from hacks.

Whitehat hackers stand to gain payouts ranging from $1,000 for low-level vulnerabilities through to the highest being $10 million for major problems discovered in Maker’s smart contracts and apps. 

DAI stablecoins will reportedly be the selected medium to carry out the payouts. The next largest bug bounty on Immunefi is a $3.3 million bounty from Olympus DAO.

MakerDAO is reportedly the community in charge of governing the way DAO is collateralized and spent from Maker’s treasury. DAI at the moment is standing at the fifth spot in the list of most major stablecoins, having a $9.7 billion market cap, per insights from CoinGecko.

The Maker Foundation had previously controlled aspects of governance on Maker prior to its Head and founder Rune Christensen publicly shared the termination of the foundation in July last year, helping the DAO secure the status of “fully self-sufficient”.

“We’re glad to announce one of the key pillars of our mandate, which is to launch and maintain a bug bounty program that will help MakerDAO ensure its safety.”