Venus and Code4rena Join Together for an Exciting Smart Contract Audit Challenge
In partnership with Codes4rena, Venus Protocol the first lending protocol on the BNB Chain established by TVL and userswill introduce the Venus Prime program and hold a competitive smart contract audit challenge from September 28 to October 4.
Through this partnership, Venus Prime's smart contracts will benefit from increased security and dependability thanks to Code4rena's diverse and competitive environment.
Objective
The goal of the challenge is to find and fix any potential weaknesses in Venus Prime's smart contracts such that they are fully functioning and have strong security. Venus Protocol is rewarding the contributors and encouraging participation with a significant cash incentive of $36,500.
About Venus Prime
Venus Protocol has created a ground-breaking rewards program called Venus Prime, which promises higher payouts in exchange for customer loyalty and involvement. As a key component of Venus Tokenomics 3.1, it is accessible for a limited number of cryptocurrency pools and enables users to significantly raise their yields in the supply and borrow markets. The Venus Prime program offers its users a special, non-transferable Venus Prime Token that increases the annual percentage yields (APYs) for supply and borrow positions in certain pools.
To be eligible to participate, users must stake at least 1,000 XVS, Venus' governance token, for at least ninety days in order to receive the revocable Prime Token. By keeping these tokens, customers can take advantage of the Venus Prime program's extra boost in addition to conventional APY rates on their holdings. Users can visit the regional channels to participate and get more information.
How to participate
To examine Venus Prime's smart contracts and help improve their security, security specialists and developers are invited to take part in this open audit competition.
In a gamified setting, participants will have the chance to collaborate with exceptional individuals while expanding their knowledge and expertise in the web3 security domain.
By visiting Venus Prime Challenge, interested parties can find out more about the challenge and register to participate at here
Conclusion
Venus Protocol and Code4Arena's partnership highlights the DeFi industry's dedication to security and quality while promoting a sense of belonging and group development. Assuring the dependability and security of blockchain technologies and their applications has advanced with this development.
What is Code4rena?
By adding a competitive element to the audit process a project posts a reward pool, and the community searches for vulnerabilities Code4rena reinvents the audit methodology. It brings in hundreds of security experts who offer a wide range of perspectives and creative solutions, guaranteeing a thorough and exacting analysis of the smart contracts.
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