Odaily Planet Daily report: ai16z founder Shaw further detailed the Pump.fun smart contract reverse engineering initiative on X, stating that the goal is not to develop a contract with similar functionality, but to recreate an exact byte-for-byte replica of the original contract, including its existing bugs and flaws. He encouraged developers to use AI tools to participate in the reverse engineering effort and to continue contributing code via GitHub.
Shaw noted that closed-source smart contracts hinder security audits and stated that over $40 million in funds have been lost in the past year due to critical security vulnerabilities in closed-source contracts. He believes that promoting open-source contracts helps developers and AI identify and report potential vulnerabilities.
In addition, Shaw plans to offer as bounty rewards the tokens previously repurchased using Meme coin fee revenue, distributing them to contributors involved in reverse engineering.
Previously, Shaw, founder of ai16z, posted on X that he has completed 90% of the reverse engineering work on Pump.fun’s contracts, expects to finish everything tonight, and stated, "Open source everything, or it will be forcibly open sourced."