YZi Labs and CertiK Collaborate to Enhance Security for EASY Residency Startups with $1M Audit Grants

Summary:
YZi Labs, through its EASY Residency program, is partnering with CertiK to bolster security for startups in Web3, AI, and biotechnology sectors. The collaboration includes a $1 million audit grant and advanced security services, marking a significant shift towards prioritizing security within the rapidly evolving technology landscape.

Key Takeaways

YZi Labs' EASY Residency program supports early-stage startups in Web3, AI, and biotechnology.
CertiK will provide $1 million in audit grants and advanced security services for participants.
This partnership emphasizes the importance of security in the development of new technology applications.
CertiK is recognized for its leadership in Web3 security, having identified over 180,000 vulnerabilities in blockchain code.
YZi Labs has a strong track record, overseeing more than $10 billion in assets and nurturing over 300 projects globally.

Introduction to the Partnership

YZi Labs has launched a global incubation initiative known as EASY Residency, which is designed to support early-stage entrepreneurs in the fields of Web3, artificial intelligence (AI), and biotechnology. This program focuses on fostering long-term value creation.

As part of this strategic partnership, CertiK will deliver advanced services including Skynet Boosting and AI scanning, along with a notable $1 million auditing reward for participants of the EASY Residency program. By facilitating a strong relationship with CertiK, YZi Labs aims to enhance the understanding of security offerings among the startups it nurtures.

Insights from Leadership

Ella Zhang, Head of YZi Labs, emphasized the significance of this collaboration in shaping the future of security for emerging technologies. Professor Ronghui Gu, Co-Founder and CEO of CertiK, also shared his views on the partnership's importance.

The alliance signifies a crucial transition in the Web3 sector, moving the focus from merely pursuing speed to prioritizing security. This innovative security incubation model, shaped by the conjunction of finance and technology, highlights the critical need for security considerations in new ventures. YZi Labs’ involvement reflects its commitment to evolving incubation frameworks and establishing new security standards within the blockchain ecosystem.

CertiK’s Role in Blockchain Security

CertiK stands out as a leading provider of security services in the Web3 space. Utilizing advanced formal verification technology, CertiK protects and monitors smart contracts and blockchain protocols. Founded in December 2017 by scholars from Yale and Columbia University, CertiK translates cutting-edge academic research into practical applications, ensuring that mission-critical applications can grow safely and effectively.

As an industry leader in blockchain security, CertiK is rapidly gaining recognition. To date, the company has detected over 180,000 vulnerabilities in blockchain code and has safeguarded digital assets exceeding $600 billion. CertiK has partnered with more than 5,000 business clients, including prominent initiatives such as Aptos, Ripple, Sandbox, Polygon, BNB Chain, and TON.

With a valuation surpassing $2 billion, CertiK has attracted investments from a number of prestigious firms including Sequoia, Coatue, Goldman Sachs, Shunwei Capital, and Insight Partners since its inception.

About YZi Labs

YZi Labs is a global investment entity dedicated to promoting long-term projects in biotechnology, AI, and web development. Established in 2017 by CZ and currently led by Ella Zhang, YZi Labs manages over $10 billion in assets worldwide.

The organization has successfully guided over 65 teams through its incubation programs, with a portfolio that includes more than 300 projects from over 25 countries across six continents.