LONDON – Feb. 11, 2025 – Immunefi’s Blockchain Expedited Arbitration Rules, developed in collaboration with Greenberg Traurig, LLP and the London Chamber of Arbitration and Mediation (LCAM), has been shortlisted for “Best Innovation” at the GAR Awards 2025.
The award will be determined by a public vote, which will close on Friday, Feb. 14, 2025, with the winners to be announced at the GAR Awards ceremony taking place in Paris during Paris Arbitration Week. The GAR Awards are given by Global Arbitration Review, a key resource for the international arbitration community.
The Blockchain Expedited Arbitration Rules are designed to support the efficient and cost-effective resolution of complex web3 technology disputes and provide for enforcement of a final arbitral decision both “on-chain” (using Immunefi’s Vault system) and “off-chain” through the New York Convention, enabling decisions to be enforced in 172 countries that are parties to the convention. The Greenberg Traurig London team working with Immunefi and LCAM included Of Counsel Leith Ben Ammar FCIArb, Practice Group Counsel Johnny Shearman, Associate Harvey Rees, and Paralegal Jorge Velazquez.
Unlike traditional methods, Immunefi Arbitration is a uniquely developed method of dispute resolution. A custom set of rules was drafted to govern the system and specifically meet the needs of Immunefi’s users. While arbitration is commonly a private process, the Arbitration System also allows the parties to remain anonymous throughout the process, which is crucial for many security researchers, who often operate under an alias or pseudonym. The Arbitration System will be administered by LCAM, which has adopted specialized procedures and produced a dedicated practice note for arbitrators handling disputes under Immunefi’s system.
“We are delighted to support Immunefi with its market-leading approach to bug bounty programs and to advise on its new dispute resolution mechanism and novel set of arbitration rules. The new rules are specifically designed to cater to Immunefi’s global user base and digital infrastructure,“ Ben Ammar said.
The rules are available on LCAM’s website: https://lcam.org.uk/lcam-blockchain-expedited-arbitration-rules.
About Greenberg Traurig
Greenberg Traurig, LLP has more than 2750 attorneys in 49 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2024 BTI “Leading Edge Law Firm” for delivering on client expectations for the future and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.
About Immunefi
Immunefi is the largest onchain crowdsourced security platform. Immunefi guards over $190 billion in user funds across projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and others. The company has paid out the most significant bug bounties in the software industry, amounting to over $100 million, and has pioneered the scaling web3 bug bounties standard. For more information, please visit https://immunefi.com
About the London Chamber of Mediation and Arbitration (LCAM)
The London Chamber of Arbitration and Mediation (“LCAM”) is part of the London Chamber of Commerce and Industry but independent in its administration of disputes. LCAM was launched to provide innovative, speedy, and cost effective services to help resolve commercial disputes. LCAM offers arbitration, expedited arbitration, and mediation services delivered by diverse practitioners with many years’ experience in alternative dispute resolution. Oversight is provided by the LCAM Advisory Board. Fees are fixed, providing cost-certainty and good value without compromising quality.