Ripple and Immunefi Launch $200K “Attackathon” to Fortify XRPL Lending Protocol

Ripple and Web3 security platform Immunefi has cooperated to launch a global “attack” designed to try and strengthen the upcoming XRPL Lending protocol. The initiative officially begins today (October 13) with a phase of education, followed by an intensive bug hunting competition starting October 27 and running until November 29th.

Strengthening the ambitions of the institutional defi of XRPL

XRPL Lending Protocol is the next major milestone in RIPPLE’S ROADMAP For decentralized finances in the XRP ledger. It is expected to go to a vote of the validator later this year, the protocol introduced pooled lending and underwritten credit directly to XRPL. The system allows lenders and lenders to connect seamlessly through automatic loans, repayment, and generation produce – all without intermediaries.

Designed for adherence to grade-institutional and transparency, the protocol incorporates existing risk frameworks while reducing friction operations in credit markets. Ripple has seen this as a foundation for global financial institutions to tap on on-chain and improve capital efficiency in the tanned environments.

“The XRPL is designed to support safe, real financial applications, and especially important because lending is introduced to the network,” said Jasmine Cooper, head of the product at Ripplex.

“This initiative is about ensuring that the proposed lending protocol is thoroughly tested and resilient before launch, so developers and institutions can come up with confidence. The cooperation with Immunefi gives us to work some of the leading security researchers to help strengthen the new layer of the newly infrastructure of the infrastructure of XRPL,” ” by Cooper.

Security by collaboration

Immunefi, one of the largest web3 security communities, carries a proven “attack” project model. Under this format, security researchers compete to discover weaknesses in exchange for rewards. The upcoming event will feature a $ 200,000 bounty pool and a dedicated “Attackathon Academy” To train researchers in the XRPL architecture before the main competition.

“We are excited to cooperate with Ripplex to secure the XRPL Lending Protocol through our attack model, who trains and uses the expertise of the best security researchers in the world,” said Mitchell Amador, CEO and founder of Immunefi.

The educational phase begins October 13, preparing participants with technical training before the official bug-hunting window opens on October 27. During the challenge, Immunefi preserves real-time leaderboards, monitor weaknesses, and host an X Space Father with XRPL Foundation developers and the leadership of the XRPL Foundation Developers Immunefi.

Raising standard for defi security

Launched in 2012, XRPL has built a decade track record as a fast, low cost, and reliable blockchain optimized for real-world finance. With the introduction of folk lending, Ripple aims to expand the role of XRPL in the institutional defi, filling in cases of its use in payments and tokenization.

The platform is currently supporting more than 60,000 white-hat hackers protecting over $ 180 billion in property and claimed to prevent more than $ 25 billion in potential hacks.

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