Just a few days in the past, Uniswap introduced the launch of the most important bug bounty in historical past.
https://twitter.com/Uniswap/standing/1861409607505064238
This entails 15.5 million {dollars} in rewards for anybody who finds a crucial vulnerability within the core v4 contracts of Uniswap.
The DEX Uniswap
Uniswap is the most important DEX on this planet by buying and selling volumes.
It was launched in 2018, however its use started to unfold particularly from the second half of 2020, with peaks of use through the nice bullrun of 2021.
It has virtually at all times been the decentralized alternate of reference, even when at occasions it has been surpassed by different DEX however just for transient moments.
It exists on a number of chains, regardless that the overwhelming majority of buying and selling volumes happen on Ethereum, and on its layer-2 Arbitrum, Base, Polygon, and Optimism.
It’s not energetic on Solana, whereas it’s on BNB Chain and Avalanche.
Though the buying and selling volumes of Uniswap have not too long ago returned near the highs of 2021, so far as the TVL is anxious, the height of over 10 billion {dollars} reached each in Might 2021 and in November of the identical yr are nonetheless distant, provided that for now it’s caught at simply over 6 billion.
The brand new model V4 of Uniswap
There are three variations of Uniswap, though essentially the most extensively utilized by far is the newest one, V3.
The very fact is that Uniswap Labs is engaged on the fourth model, V4, which, nonetheless, has not but been launched.
To inform the reality, the discharge of V4 was anticipated earlier than the top of September, however the timeline has been prolonged.
The sensible contracts of the brand new model have now been made obtainable on GitHub in order that they are often analyzed and examined.
It’s not but clear when the ultimate code of Uniswap V4 will be launched, but when they’ve launched the bug bounty program, it means they’ve good confidence that the code growth is nearly full.
The brand new model will remodel Uniswap right into a platform for builders, unlocking new market constructions and extra property to serve extra customers, due to the introduction of hooks, contracts that builders can create to customise the way in which swimming pools, swaps, charges, and LPs work together. In brief, hooks enable for brand new further functionalities to the Uniswap protocol.
Moreover, they predict that swimming pools on V4 might be 99.99% cheaper to create, and that swappers can count on vital financial savings on multi-hop swaps.
The brand new bug bounty of Uniswap
Within the official launch assertion, Uniswap Labs introduced that the bug bounty for V4 is already energetic.
It’s a bug bounty of 15.5 million {dollars}, which is the most important ever regarding Uniswap.
The corporate invitations you to discover the code of V4 and report any vulnerabilities.
They’ve additionally created a devoted web page on Cantina with all the foundations of the bug bounty and the disclosure necessities.
Uniswap V3 is extensively and extensively thought-about a really safe DEX, and V4 in line with Uniswap Labs would already be among the many most completely reviewed codebases in DeFi, with 9 impartial audits by OpenZeppelin, Spearbit, Certora, Path of Bits, ABDK, and Pashov Audit Group.
Over 500 researchers participated within the growth of the V4 with a safety competitors price 2.35 million {dollars}, and no crucial vulnerabilities have been discovered.
The colossal bug bounty of 15.5 million serves to take an additional step ahead to make sure that V4 is as safe as doable, with the method of the ultimate implementation.