$40,000 STRIPS Hackathon: Participate NOW! by@strips

$40,000 STRIPS Hackathon: Participate NOW!

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Strips Finance

Decentralised Interest Rate Exchange.

STRIPS is the next generation decentralized interest rate exchange. The goal of this hackathon is to find economic and technical vulnerabilities of our STRIPS contracts.

STRIPS Hackathon Details

  1. $40,000 USDC award pot
  2. Review the GitHub repository for the hackathon here
  3. Submit findings using issues using this form
  4. Please read our guidelines below for more details
  5. Starts: 1 December 12:00 UTC
  6. Ends: 12 December 12:00 UTC
  7. Join our developer-only Telegram to ask any question

How to start

Read our official medium announcement.

For any questions, follow the closed telegram group, where our developers will answer.

If you happen to have any questions, we are available 24/7 to help:

Email: [email protected]

Discord: https://discord.com/invite/XUhQMDmcyE

TG: https://t.me/+jaXzia9QznFjNGE9

About STRIPS

STRIPS allows traders to trade interest rates in DeFi easily. Traders on STRIPS can long or short interest rates across a variety of interest rate protocols using a virtual automated market maker (vAMM) model for liquidity. Whitepaper

In finance, interest rate swaps account for $400 trillion of daily traded volume, representing over 80% of the world’s total derivatives volume. Interest rates touch on nearly every financial product in traditional markets.

Still, unlike traditional finance, the tools to wield them in decentralized finance (DeFi) have yet to be developed or meaningfully deployed in the market.

STRIPS aims to solve this by allowing traders to easily trade interest rates using a derivative instrument called an interest rate swap. Interest rate swaps pay the difference between a floating rate and a fixed rate and allow traders to express directional views on interest rates in a flexible, capital-efficient way. Interest rate swaps are a tool for traders to express directional views in both bull and bear markets. STRIPS will be looking to launch on Arbitrum.

Submission Criteria

⚠️ Submit your hackathon findings to this form.

Rewards

Rewards will be given out pro-rata according to a points formula:

Critical severity (6-10 score) pot size = $25,000 
Medium severity (3-5 score) pot size = $10,000 
Low severity (1-2 score) pot size = $5,000  

Points = Severity score * (0.8^Report Counts) / Report Counts 
Reward = Pot size * Points / Total Points

Criteria

  • If you can find anything similarly severe which is not mentioned in examples: your severity score will be 10 out of 10
  • If you can achieve anything mentioned in the hacking examples below: you will get a severity score of 8 out of 10
  • If you can find technical issues such as overflow and underflow: your severity score is likely to be 5 out of 10
  • If you can find minor issues such as missing modifiers: your severity score is likely to be 2 out of 10
  • Strips will remain the authority to assign the severity score and categorize similar findings into the same report counts. We promise to take 100% seriousness when we review your reports.

Important

➡️ Turn in your reports before the contest end time (12 December 12:00 UTC) in this form. ANY REPORTS AFTER THIS TIME WILL NOT BE COUNTED.

➡️ Be sure to fill in your handle and ETH address to receive your share.

➡️ Publicly disclosing any discovered bugs or vulnerabilities is grounds for disqualification.


STRIPS is currently hiring for several roles. Interested applicants can email their resume and cover letters to [email protected]

To learn more please visit the project’s website at https://strips.finance/ or follow the project on

Twitter | Telegram | Discord

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