DeFi Trading Terminal UniDex Announces a Bug Bounty Program

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DeFi Trading Terminal UniDex Announces a Bug Bounty Program

May 14 2021

In brief

  • Decentralized trading terminal UniDex decided some time ago that it wanted to dedicate time and effort to revamping its platform.
  • After a lot of work and a few minor sneak peaks, the project is almost ready to launch the upgrades.
  • However, before it can do that, it decided to hold a bug bounty program and ensure that as many bugs are removed as possible.

DeFi project UniDex announced the upcoming launch of a new update for its platform, and a bug bounty program that will come before it.

UniDex is a unique DeFi project that functions as the self-proclaimed ‘Most powerful trading platform and aggregator’ for various trading instruments, such as derivatives, options, swaps, NFTs, stocks, perpetuals, and even for lending. It has hundreds of liquidity sources, numerous aggregators, it offers on-chain trading and more.

All of this was organized so that its users would never again have to worry about liquidity for any of the offered financial instruments. However, the project spent a lot of effort on being as efficient as possible, which led to it neglecting the quality of its interface a bit.

Of course, DeFi is extremely new and, therefore, extremely competitive, and to truly succeed, the project needs to be functional as well as easy to understand and use. Fortunately, UniDex was aware of this, and it simply prioritized the quality of its services. But, the time has come to update its interface, make the navigation easier, and simply improve and simplify the way its platform works, which is why it has spent weeks or even months in development.

The platform is finally ready to launch, but before that happens, UniDex has prepared a bug bounty program.

UniDex’s Bug Bounty

Bug bounty programs are nothing new in the tech sector. Companies around the world have been using them for ages, inviting tech experts and white hat hackers to check out their code and seek out potential vulnerabilities, flaws, bugs, and anything of that sort. In fact, bug bounties have grown to become so popular and common that organizing such programs is now seen as a very responsible and transparent thing to do.

With UniDex adding so much of new stuff, including even some new services, there is a lot of code to comb through, and it admitted that the job requires a bit of help from the side. Its developers are an excellent team, but they are too familiar with the code, and they might miss things that fresh eyes might recognize as flaws, which is why the project announced that it wants to give third parties an opportunity to find such flaws.

It will create a running list that will be constantly updated with new submissions, and each new and unique flaw that gets reported will bring a reward to the individual or team that finds it.

The project did not suggest how high the rewards for new bugs will be, but given the importance and speed at which the bugs need to be located and revealed, they will likely be worth the experts’ time. More details will be released in weeks to come, and UniDex’s UI launch will follow soon after.