This case study provides a comprehensive overview of the Ignite Market Audit Contest, conducted by the HackenProof team from May 6 to June 4, 2025. It outlines the audit scope, vulnerability findings, reward distribution, and HackenProof’s pivotal role in elevating the project’s security posture through community-driven testing.
About Ignite Market
Ignite Market Ignite Market is a prection market based on gnosis conditional token and fixed product market maker on flare network leveraging their data connectors for providing real world data.
Audit Overview
The audit contest was designed to evaluate the security of Ignite’s smart contract suite. Over the course of four weeks, security researchers from the HackenProof community were tasked with identifying critical and non-critical vulnerabilities across Ignite’s on-chain logic.
- Duration: May 6 – June 4, 2025
- Total Bounty Pool: $10,000
- Reports Submitted: 111
- Valid Reports: 5
- Scope Reviews: 5,274
Researchers employed a mix of manual analysis, symbolic execution, and adversarial scenario modeling to uncover edge cases and business logic flaws in the protocol.
Key Findings
The audit uncovered five valid vulnerability reports, categorized by severity:
- High Severity: 2 findings
- Medium Severity: 1 finding
- Low Severity: 2 findings
All validated issues were reviewed by HackenProof’s triage team and resolved in coordination with Ignite’s developers, ensuring code improvements were applied before going live.
Rewards Distribution
Of the $10,000 available bounty pool, a total of $4,125 was disbursed to participating researchers whose reports met HackenProof’s impact and validity criteria.
- High Severity Issues: Majority of the reward allocation
- Medium and Low Severity Issues: Proportional compensation based on technical merit and exploitability
Remaining funds were unallocated in accordance with the platform’s performance-based payout structure, which ensures rewards are aligned with risk severity and research depth.
Impact and Efficiency
Through this audit contest, Ignite Market achieved two primary outcomes: enhanced protocol security and development efficiency. With 111 total submissions reviewed, HackenProof’s in-house triage team filtered noise and prioritized actionable findings — allowing the Ignite team to focus exclusively on resolving verified threats.
“The HackenProof contest gave us visibility into our most critical weak points and accelerated our secure launch timeline. Their team made it easy to stay focused while getting real value from the community’s expertise.” – Ignite Market Core Team
Conclusion
The Ignite Market Audit Contest, supported by HackenProof, highlights the essential role that community-led audits play in secure protocol development. With over 5,000 contract interactions and 111 total submissions, the contest surfaced meaningful vulnerabilities and resulted in the distribution of $4,125 in researcher rewards — proving both the efficiency and effectiveness of crowdsourced security testing.
About HackenProof
HackenProof is a leading Web3 bug bounty and crowdsourced audit platform trusted by top Web3 and Web2 projects for unparalleled security. We partner with industry leaders like the Ethereum Foundation, Aptos, Polygon, Near, Aurora, Sui, MetaMask, 1inch, TON Foundation, Cronos, OKX, Status, and over 155 other projects.
