Ripple puts XRPL Lending Protocol to the test with Immunefi

Ripple and Immunefi have launched a $200,000 “Attackathon” to test and secure the upcoming XRPL Lending Protocol.

Lending protocols are historically high-value, high-risk targets in DeFi. On Monday, Oct. 13, Ripple and Immunefi launched a $200,000 “Attackathon” to test and secure the upcoming XRPL Lending Protocol. This protocol is a key part of XRP Ledger’s expanding DeFi roadmap.

The initiative will invite global security experts to identify vulnerabilities in the protocol before it goes live. Experts who find critical vulnerabilities will receive bounties from the $200,000 rewards pool. The program is currently in its training phase, with active bug hunting set for Oct. 27 to Nov. 29.

XRPL Lending Protocol key to Ripple’s DeFi pivot

The goal of the hackathon is to stress test the XRPL Lending Protocol before launch, reducing the risk of critical failures. It also aims to build confidence in a protocol that will form the backbone of the XRPL’s DeFi ecosystem.

XRP, the smart-contract-enabled section of the Ripple (XRP) ecosystem, is known for its speed and cheap transactions. However, it has so far not supported lending, a key element in DeFi. This is what the XRPL Lending Protocol aims to enable.