Wemix Foundation has revamped the bug bounty programme it has operated with blockchain security company CertiK, basing it on CertiK Hunt.

Wemix Foundation said on Oct. 14 it will run a new bug bounty programme. The main review targets are the Wemix 3.0 blockchain and governance contracts.

Under the revamp, it reorganised the vulnerability severity system into three levels: critical, high and medium. The highest critical level includes vulnerabilities that could lead to a full network outage or direct financial losses.

Reporting a critical vulnerability can earn a reward of up to $10,000. Rewards are calculated in U.S. dollars and paid in Tether (USDT) on the Ethereum network.

Eligibility to report was also restricted. CertiK Hunt is an invitation-only platform open only to researchers who pass a pre-screening based on technical expertise, a track record of finding vulnerabilities and contributions to the security community.

Among them, the authority to submit actual vulnerability reports is granted only to top-tier "Vanguard" researchers.

Reporters must submit a proof of concept, or PoC, that can demonstrate the actual impact of the vulnerability. CertiK reproduces it directly to determine validity and severity.

Those receiving rewards must also go through know-your-customer, or KYC, procedures.

CertiK Hunt is a security platform CertiK introduced in July to replace its existing security research programme, Skyshield. It runs bug bounties, security audit contests and AI-based security challenges.

A Wemix official said the revamp to CertiK Hunt strengthened an always-on security verification system for the Wemix 3.0 blockchain and core components.