The Bancor team released the source code of the highly anticipated Bancor v2 project and announced a long running bug bounty on July 17. The official press release states that the bug bounty program is designed and being implemented to support the formal verification and security audit of the Bancor v2 project. The team is paying a significantly higher bounty for the bugs and vulnerabilities, discovered by the community and developers in the first two weeks (July 16 – July 30), however the bug bounty and rewards will continue after July 30 also. The Bancor v2 will be deployed on the Ethereum’s Ropsten testnet in the coming days.
The team is offering a reward of $54,000 for critical bugs discovered during July 16 – July 30 and $45,000 after July 30. For high severity bugs, $14,400 is being offered from July 16 – July 30 and $12,000 after July 30. Similarly, for medium level severity bug, the amount is $4,800 from July 16 – July 30 and $4,000 after July 30. The “CVSS Risk Rating” mechanism will be used to determine the severity of bugs.
As the launch of #BancorV2 approaches, we are excited to announce the open-sourcing of Bancor V2 contracts with a public bug bounty.
💰 Bounty: https://t.co/xyZVQdWnYT
📃 Docs: https://t.co/xuWTPQQvMr
⚙️ Dynamic Automated Market Makers (DAMMs) Explained: https://t.co/4BgqQ9tycP pic.twitter.com/3n2dNVrAmh— Bancor (@Bancor) July 17, 2020
Bancor v2 Security Audits
The Bancor team is aiming for Bancor v2 to be the most audited project till now, with multiple professional teams working on it and general developer community being asked to security review it. First to review Bancor v2 were ConsenSys and 1inch teams, which reported their findings, upon which the code issues were rectified. The bug bounty is running for now, which will be followed by another audit from a firm, reviewing the code base again. All of these audits and security reviews will ensure Bancor v2 security and enhance user’s confidence in the project.
About Bancor v2
Bancor v2 is the next major upgrade for the DeFi focused automated liquidity provider project, expected to be released, in the month of July 2020. It will feature advancements such as single token liquidity provision, sourcing data oracles from Chainlink to eliminate impermanent loss, reduced slippage design, liquidity amplification (for both stable and non-stable coins) and support for lending pools.
It is super easy to buy Ripple. Just take a look at our exchange comparison!
Trading Bitcoin is too complicated?
We highly recommend our Crypto-Starter-Kit to you!
Or are you looking for the current Bitcoin Price in USD? Look no further!
Bitcoin Price, Ethereum Price, Ripple Price
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
