New Public Bug Bounty Program Commits Up to 250,000 USD in Rewards for Participants
DUBAI and BOSTON, Nov. 30, 2022 /CNW/ -- Tinyman unveiled version 2.0 of its decentralized trading platform and its new readable, Algorand Virtual Machine (AVM) programming language called 'Tealish' at Decipher 2022, the annual gathering of Algorand builders, founders, investors, and strategists taking place at the Madinat Jumeirah this week in Dubai. Tinyman will also launch a new Public Bug Bounty Program in collaboration with Immunefi, and is committing up to 250,000 USD in rewards to participants through the generous support of the Algorand Foundation.
The next-generation protocol features open-source smart contracts and was written entirely using 'Tealish,' which enables writing TEAL in a readable format. The smart contracts in version 2.0 are open-sourced for public feedback, so the Algorand community and its ecosystem of developers can review and integrate the contracts prior to official launch. A period of around two months will be allocated for feedback and public review before Tinyman v2.0 launches on mainnet, expected in January 2023. V2.0 performance improvements include removing unnecessary app opt-ins and minimizing friction in the user experience. It also brings with it new features, such as Composable Calls, Flexible Liquidity Management (FLEX), Metapools, Flash Loans, Flash Swaps, and Dynamic Fees.
All contract codes can be found in Tinyman's GitHub accounts, along with technical documentation. The results of the first leg of audit reports for Tinyman v2.0, conducted by Runtime Verification, are also published on Github.
For more information about the Public Bug Bounty program, click here.
Fergal Walsh, CTO, Tinyman: "The protocol specifications and contracts have been analyzed and audited at multiple levels to attempt to identify many different issues. We have worked with the auditors to make the audit process more transparent than usual. In the coming weeks, we will tell more about this with references to the reports and all the supporting material."
Kaan Eryilmaz, CEO, Tinyman: "With Tinyman, we've always pushed for transparency and interoperability within the ecosystem. v2.0 of Tinyman follows these principles as we open source our contracts ahead of time. The aim is to improve our user experience both on our interface and on a technical level. We see the period ahead of us as a golden opportunity to create a true community-driven product, as our top priority is to grow together with the Algorand ecosystem."
Tinyman is a decentralized trading protocol, utilizing the fast and secure framework of the Algorand blockchain to create an open and safe marketplace for traders, liquidity providers, and developers. Tinyman, built by a team of experienced app builders, is on a mission to realize the full potential of DeFi, or financial tools that run on blockchain that are inclusive, accessible, and profitable for users far and wide. With the community-focused, cheap, fast, and fully permissionless Tinyman protocol, users are able to trade any Algorand Standard Asset (or Algo) through liquidity pools using an Automated Market Maker (AMM) algorithm. For more information, visit tinyman.org
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Founded by Turing Award-winning cryptographer Silvio Micali, Algorand's high–performing Layer-1 blockchain is unparalleled for bringing fast, frictionless, and inclusive technologies to everyone. Algorand is reshaping every industry–from TradFi and DeFi to new creator economies and beyond. With an extraordinary commitment to interoperability and consistent delivery, its sustainable technology powers more participation, transparency, and efficiency for all. As the technology of choice for 2,000+ global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols and exchange of value. For more information, visit www.algorand.com.
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