Hats Finance is emerging as a pivotal player in the Web3 security landscape, pioneering a decentralised approach to audits and bug bounties. Founded with a mission to democratise security auditing, Hats Finance leverages community participation through onchain audit competitions and bug bounty programs. By incentivizing global talent to identify vulnerabilities, they aim to reduce the cost and enhance the effectiveness of security audits, crucially improving transparency and security within the decentralised finance (DeFi) ecosystem. Their platform facilitates permissionless participation, enabling aspiring security experts worldwide to contribute and build reputations without traditional barriers to entry. Hats Finance's vision includes expanding into AI safety and enhancing security for smart wallets, aiming to address critical challenges and propel Web3 towards mainstream adoption.