KyberSwap Resumes Elastic Protocol, Backed by Multi-Million KNC KyberDAO Security Fund

0 6

knife

KyberSwap, a leading decentralized exchange (DEX) platform, is thrilled to announce they will be resuming its highly anticipated Elastic protocol on May 25, 2023. This brings back key capital-efficient features such as concentrated liquidity and full range fees compounding, while incorporating significant security enhancements, including a newly audited smart contract, round-the-clock live scanning in collaboration with security partners, and the introduction of an Insurance Fund.

KyberSwap Elastic will resume with improved smart contracts that have undergone internal audits as well as external audits with ChainSecurity and the community whitehat developer that spotted the smart contract vulnerability earlier in April. Further smart contract audits are being planned with other auditors. The comprehensive audit report by ChainSecurity can be found here.

In addition to fortified smart contracts, KyberSwap has implemented enhanced security measures of its own. This includes a real-time monitoring page set to launch in Q3 2023 that continuously checks the status and security of the website, smart contracts, and more, providing the team with up-to-the-minute information and eliminating reliance on outdated data. Furthermore, KyberSwap has improved UX controls, expanded user education resources, and enhanced warning notices, empowering users with the knowledge and tools necessary to make informed decisions in the crypto space.

To further bolster security, KyberSwap is establishing an official Bug Bounty program to be released in June 2023 with Immunefi, inviting community developers to proactively evaluate the codebase and incentivizing their participation.

“Our Elastic protocol resumption comes with upgraded smart contracts, a new security audit and coverage from KyberDAO, together with increased incentives, to offer users more rewarding, secure options for their liquidity,” said Victor Tran, KyberSwap Co-Founder and CEO. “KyberSwap returns to chart the path to leading DeFi in volume and protocol revenue, and make real an all-in-one, sustainable platform to help users Trade Smart.”

KyberSwap’s Elastic protocol is scheduled to resume operations on May 25, 2023, alongside the KyberSwap Returns campaign. This campaign brings forth exciting features such as NFT campaigns, the introduction of KyberAI, potential deployment to zkSync, and a multimillion-dollar Liquidity Mining campaign and ecosystem growth funds allocation. Notably, prominent staking and vault protocols, including Lido Finance and QiDao, have confirmed their participation, injecting liquidity into KyberSwap and reinvigorating liquidity mining incentives and other collaborative initiatives with the team.

 

 


This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 68,050.23
ethereum
Ethereum (ETH) $ 3,533.26
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 600.74
solana
Solana (SOL) $ 183.94
staked-ether
Lido Staked Ether (STETH) $ 3,531.90
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.59824
dogecoin
Dogecoin (DOGE) $ 0.140983
the-open-network
Toncoin (TON) $ 7.15
cardano
Cardano (ADA) $ 0.443885
avalanche-2
Avalanche (AVAX) $ 32.78
tron
TRON (TRX) $ 0.134367
shiba-inu
Shiba Inu (SHIB) $ 0.000018
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 68,043.23
chainlink
Chainlink (LINK) $ 14.96
polkadot
Polkadot (DOT) $ 6.40
bitcoin-cash
Bitcoin Cash (BCH) $ 399.37
near
NEAR Protocol (NEAR) $ 6.29
uniswap
Uniswap (UNI) $ 8.13
litecoin
Litecoin (LTC) $ 73.84
dai
Dai (DAI) $ 1.00
leo-token
LEO Token (LEO) $ 5.69
pepe
Pepe (PEPE) $ 0.000013
wrapped-eeth
Wrapped eETH (WEETH) $ 3,684.50
matic-network
Polygon (MATIC) $ 0.546578
internet-computer
Internet Computer (ICP) $ 10.77
kaspa
Kaspa (KAS) $ 0.179572
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.46
ethereum-classic
Ethereum Classic (ETC) $ 24.21
aptos
Aptos (APT) $ 7.48
ethena-usde
Ethena USDe (USDE) $ 1.00
stellar
Stellar (XLM) $ 0.105509
monero
Monero (XMR) $ 164.08
blockstack
Stacks (STX) $ 1.97
mantle
Mantle (MNT) $ 0.881408
render-token
Render (RNDR) $ 7.19
dogwifcoin
dogwifhat (WIF) $ 2.80
filecoin
Filecoin (FIL) $ 4.78
injective-protocol
Injective (INJ) $ 27.66
maker
Maker (MKR) $ 2,890.58
arbitrum
Arbitrum (ARB) $ 0.802581
hedera-hashgraph
Hedera (HBAR) $ 0.074281
immutable-x
Immutable (IMX) $ 1.68
crypto-com-chain
Cronos (CRO) $ 0.095407
okb
OKB (OKB) $ 42.60
cosmos
Cosmos Hub (ATOM) $ 6.51
bittensor
Bittensor (TAO) $ 353.97
vechain
VeChain (VET) $ 0.030707
bonk
Bonk (BONK) $ 0.000033
arweave
Arweave (AR) $ 33.69
optimism
Optimism (OP) $ 1.96
sui
Sui (SUI) $ 0.853209
the-graph
The Graph (GRT) $ 0.219625
floki
FLOKI (FLOKI) $ 0.000206
first-digital-usd
First Digital USD (FDUSD) $ 1.00
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,955.10
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,580.37
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,667.48
lido-dao
Lido DAO (LDO) $ 1.94
theta-token
Theta Network (THETA) $ 1.65
thorchain
THORChain (RUNE) $ 4.88
notcoin
Notcoin (NOT) $ 0.015997
bitget-token
Bitget Token (BGB) $ 1.15
ondo-finance
Ondo (ONDO) $ 1.09
fantom
Fantom (FTM) $ 0.538133
aave
Aave (AAVE) $ 99.76
jasmycoin
JasmyCoin (JASMY) $ 0.030368
coredaoorg
Core (CORE) $ 1.63
whitebit
WhiteBIT Coin (WBT) $ 10.14
jupiter-exchange-solana
Jupiter (JUP) $ 1.08
based-brett
Brett (BRETT) $ 0.144907
celestia
Celestia (TIA) $ 6.71
pyth-network
Pyth Network (PYTH) $ 0.36543
algorand
Algorand (ALGO) $ 0.159421
sei-network
Sei (SEI) $ 0.392066
ether-fi-staked-eth
ether.fi Staked ETH (EETH) $ 3,525.44
mantra-dao
MANTRA (OM) $ 1.40
quant-network
Quant (QNT) $ 76.21
gatechain-token
Gate (GT) $ 7.85
elrond-erd-2
MultiversX (EGLD) $ 36.90
flow
Flow (FLOW) $ 0.654434
beam-2
Beam (BEAM) $ 0.019514
msol
Marinade Staked SOL (MSOL) $ 221.51
gala
GALA (GALA) $ 0.026479
kucoin-shares
KuCoin (KCS) $ 9.99
axie-infinity
Axie Infinity (AXS) $ 6.40
popcat
Popcat (POPCAT) $ 0.963604
bitcoin-sv
Bitcoin SV (BSV) $ 47.69
eos
EOS (EOS) $ 0.610195
flare-networks
Flare (FLR) $ 0.020335
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 3,591.09
ethereum-name-service
Ethereum Name Service (ENS) $ 27.24
tokenize-xchange
Tokenize Xchange (TKX) $ 11.07
dydx-chain
dYdX (DYDX) $ 1.45
bittorrent
BitTorrent (BTT) $ 0.00000090644286
ordinals
ORDI (ORDI) $ 41.46
akash-network
Akash Network (AKT) $ 3.57
neo
NEO (NEO) $ 12.02
mog-coin
Mog Coin (MOG) $ 0.000002