Sherlock offers bug bounty and exploit coverage for protocols that have gone through Sherlock's auditing process in order to maintain a high bar for security and align Sherlock's incentives with protocol teams. The process to complete an audit and get coverage live can be found here.
Once a protocol has completed the fix review, Sherlock will strive to give the protocol the ability to initiate coverage on the contracts that were audited as soon as the protocol team is ready, provided no material changes have been made to those contracts.
A protocol team can request an audit here!