Usual and Sherlock launch $16 million bug bounty program

decentralized stablecoin protocol Usual is partnering with blockchain security company Sherlock to launch a bug bounty program, offering a reward of $16 million to find critical vulnerabilities in the codebase. This bounty surpasses the ones previously set by Uniswap ($15.5 million), LayerZero Labs ($15 million), and Wormhole ($10 million).

The Usual codebase has undergone 20 audits, including the recent Sherlock audit competition, but no medium or higher-level vulnerabilities have been found. Only vulnerabilities deemed critical are eligible for the highest reward. Usual currently manages a total locked value (TVL) of over $880 million.