In a bid to prevent hacks on its upcoming token staking mechanism, the ApeCoin (CRYPTO: APE) decentralized autonomous organization (DAO) has authorized a $4.4 million bug bounty program.

The ApeCoin DAO members approved a proposal called AIP-134, a funding request of 1 million APE ($4.4 million), for the bounty program to launch on the ethical hacking platform Immunefi.

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The bounty program seeks to identify potential security flaws and reward those who stake ApeCoin and Ape NFTs. The staking mechanism, currently operating on a testnet, is expected to go live in early December.

Researchers using Immunefi's platform will be rewarded under the bounty scheme for discovering software bugs.

In the cryptocurrency industry, Immunefi is one of the most active bug bounty programs. It claims to have assisted ethical hackers and security researchers in earning over $130 million in bounty payments.

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