Hey there, crypto enthusiasts! If you're into DeFi and the nitty-gritty of blockchain security, you've got to check out what just went down with Ammalgam. This innovative protocol recently wrapped up a massive security audit competition, and the results are in. Posted on X by the Ammalgam team, the announcement highlights a record-breaking turnout that’s sure to make waves in the community.

For those new to the scene, Ammalgam is shaking things up with its Decentralized Lending Exchange (DLEX). Think of it as a hybrid that merges lending and trading features, promising higher yields—up to 60% more—for liquidity providers (LPs). It's designed to be user-friendly for both pros looking for advanced strategies and casual users who just want to park their assets passively. Plus, it's all permissionless and oracle-free, meaning no central points of failure or external dependencies.

The audit was hosted on Cantina.xyz, a platform specializing in competitive security reviews where white-hat hackers (ethical researchers) hunt for bugs in smart contracts. These audits are crucial in DeFi because vulnerabilities can lead to massive losses—remember those multi-million-dollar hacks? By crowdsourcing the audit, Ammalgam not only bolstered its security but also engaged the global crypto community.

The competition boasted a hefty $60,000 prize pool, split into a primary pot of $50,000, $12,000 for dedicated researchers, and a $10,000 reserve for issues in a specific library. It ran from July 9 to July 29, 2025, attracting over 1,000 participants—a new record for Cantina. In total, 476 findings were submitted, focusing on high and medium severity issues that could impact the protocol's core contracts.

The top performers really shone through. First place went to @KupiaSecurity, who pocketed $21,229.39 for uncovering 8 high-severity and 7 medium-severity vulnerabilities. Coming in second was @philbugcatcher with $8,237.75 for 2 highs and 5 mediums. Third spot was claimed by @trachevgeorgi, earning $5,388.78 for 4 highs and 2 mediums.

But it wasn't just the podium finishers; the leaderboard features dozens of researchers who contributed valuable insights. For the full list, including payouts and finding details, head over to the Cantina leaderboard.

This audit is a big step for Ammalgam as it gears up for mainnet launch. By addressing these issues pre-launch, the team is ensuring a safer environment for users to leverage, trade, and earn yields. It's a prime example of how community-driven security can elevate DeFi projects.

If you're a blockchain practitioner or just curious about meme tokens and DeFi innovations, keep an eye on Ammalgam. Events like this not only fix bugs but also build trust and hype. What do you think—will this set a new standard for protocol audits? Drop your thoughts in the comments!

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