Balancer V2 is Now Live Along With $2M Bug Bounty

Balancer Protocol’s updated smart contracts, which allow for users to further customize token pools, are now public and open source. The project is offering a 1k ETH bug bounty to spot vulnerabilities in the code.

Balancer’s new architecture is based on a single vault that holds and manages tokens, giving Balancer V2 flexibility to support different types of AMM logic.

Biggest Bug Bounty

The team is offering up to 1k ETH or $2M, whichever is higher, for critical bugs that allow attackers to drain the Balancer V2 Vault. 

“Balancer Labs is proud to offer the biggest bug bounty in the history of the industry,” the blog post said.

Balancer allows users to create token pools with flexible constituents, weights and trading fees. With V2, Balancer will aggregate all its liquidity in one vault, while users will maintain an internal balance of the tokens they hold. The change is meant to optimize on gas costs and increase capital efficiency.

For more details on Balancer V2 read our previous coverage here.

✊ Head to THEDEFIANT.IO for more DeFi news 📰

Leave a Comment

Your email address will not be published. Required fields are marked *