MagpieXYZ increased its maximum bug bounty from $10K to $200K, signaling heightened security focus.
Tech & Launches ·
MagpieXYZ, a yield boosting platform on BNB Chain, has increased its maximum bug bounty to $200,000, up from a prior cap of $10,000. The change represents a 1,900% increase in the program's top reward tier. According to the platform's bounty details, payouts are capped at 10% of directly affected funds, with critical smart contract vulnerabilities subject to additional restrictions: a minimum reward of $50,000 but further capped at 10% of economic damage at the team's discretion, while high-severity reports carry a $5,000 floor and a 20% economic damage cap.
Magpie allows users to deposit stablecoins, BNB, and liquid BNB into boosted pools while providing governance participation through its MGP token and mWOM conversion mechanism. The platform locks converted WOM tokens as veWOM on Wombat Exchange to accumulate governance rights and distribute boosted rewards. All proof-of-concept submissions are mandatory across all severity levels, with testing restricted to local forks and prohibitions on mainnet testing, pricing oracle interactions, and social engineering attempts.
The timing and magnitude of the bounty increase signal heightened attention to contract security, though MagpieXYZ has noted that Wompie is currently inactive pending future contract disclosures for the program. No announcement has explained the rationale behind the specific increase or whether additional scope changes accompany the higher maximum reward.