Venus

<a href="https://venus.io/" rel="noopener noreferrer nofollow">Venus Protocol</a>, the 1st lending protocol on BNB Chain by TVL and users, will launch the Venus Prime program, collaborating with Code4rena to host a competitive smart contract audit challenge from September 28 to October 4th.This collaboration aims to elevate the security and reliability of Venus Prime&#39;s smart contracts by leveraging the competitive and diverse environment of <a href="https://code4rena.com/" rel="noopener noreferrer nofollow">Code4rena</a>.ObjectiveThe challenge seeks to identify and rectify potential vulnerabilities in Venus Prime’s smart contracts, ensuring robust security and flawless functionality. Venus Protocol is offering a substantial cash prize of $36,500 to incentivize participation and reward the contributors.About Venus PrimeVenus Prime is a revolutionary rewards program by <a href="https://twitter.com/VenusProtocol" rel="noopener noreferrer nofollow">Venus Protocol</a>, designed to incentivize user loyalty and engagement by offering enhanced yields. It is an integral part of Venus <a href="https://docs-v4.venus.io/governance/tokenomics" rel="noopener noreferrer nofollow">Tokenomics 3.1</a> and is available for select crypto pools, allowing users to substantially increase their yields in both supply and borrow markets. Users participating in Venus Prime receive a unique, non-transferable Venus Prime Token, which elevates the annual percentage yields (APYs) for both supply and borrow positions across selected pools.Users can participate by staking a minimum of 1,000 XVS, the governance token of Venus, for a minimum of 90 days to obtain the revocable Prime Token. By holding these tokens, users can enjoy standard APY rates on their balances while benefiting from an additional boost provided by the Venus Prime program. For more details and to participate, users can <a href="https://twitter.com/Venus_Community" rel="noopener noreferrer nofollow">visit the regional channels</a>.How to ParticipateSecurity experts and developers are invited to participate in this open audit competition to scrutinize Venus Prime’s smart contracts and contribute to the enhancement of its security.Participants will have the opportunity to work with top talent in a gamified environment, gaining exposure and experience in the field of web3 security.Interested participants can learn more about the challenge and participate by visiting <a href="https://code4rena.com/contests/2023-09-venus-prime#top" rel="noopener noreferrer nofollow">Venus Prime Challenge</a>.ConclusionThis collaboration between Venus Protocol and Code4Arena underscores the commitment to security and excellence in the DeFi space, fostering a sense of community and collective growth. It is a step forward in ensuring the reliability and security of blockchain technologies and their applications.—-------------------------------------------------------------------------------------------------------------------About Code4renaCode4rena innovates the audit approach by incorporating competition, where a project puts up a reward pool, and the community hunts for vulnerabilities. It brings in hundreds of security experts, providing diverse insights and innovative solutions, ensuring a comprehensive and rigorous evaluation of the smart contracts.

Venus partners with Code4rena for a Competitive Smart Contract Audit Challenge

Venus Protocol

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