Decentralized IT security marketplace PolySwarm today announced a Security Expert Bounty Program, which will reward participants in Nectar tokens (NCT) for uploading malware to the platform.
The contest launched Jan. 19 and will continue until the end of the NCT token sale on Mar. 8. Rewards will be capped at $300,000, with a maximum of $6,025 to be awarded each day. Polyswarm expects an average upper bound of 1,334 submissions per day, totalling approximately 64,000 files over the duration of the competition.
The Security Experts Program allows each user to submit a single file per day. Only the first five files per malware family will be accepted, and all files will be evaluated on the following day. Nectar will be rewarded for malware samples that are unique to all other samples submitted and are detected by ClamAV. The amount of Nectar rewarded will be tiered in order of submission within its malware family, and each day a bonus malware family will be named on PolySwarm’s Telegram group.
“Our mission at PolySwarm is to incentivize a global community of security experts to disrupt the $8.5 billion cyber threat intelligence industry, and this program will develop the network to achieve this,” Polyswarm founder and CEO Steve Bassi said. “By introducing a program encouraging innovation and competition, the market will reward experts who are best able to protect users.”
The PolySwarm market runs on Nectar, an ERC20-compatible utility token that makes it easy to submit and classify potential threats on the PolySwarm market. Nectar replaces traditional, outdated antivirus and threat-scanning subscription payments. The Nectar token sale begins Feb. 6.