October Community Update
It’s been a while since you last heard from us, but we are back with a packed community update. This month, we have been doing a lot of work behind the scenes to bring in new partnerships, create challenges for security experts, and get ready for Hats V2!
Without further ado, let’s get these updates rolling..
The Hats Airdrop Machine is Here
Our airdrop machine will distribute periodic rewards for community members that meet specific criteria. This mechanism differs from the popular one-drop-and-done mechanism because it has serial, retroactive, and scalable characteristics making it adaptable as the community grows and evolves. An ongoing initiative also allows us to engage and attract future talent that will likely make a great contribution to the Hats ecosystem
Note: Token is not live yet, but you can redeem your embassy NFT to receive airdrop once it is available.
Read more about airdrop requirements and incentives here
New Vaults Keep Coming
More bug bounty vaults have been added to our dapp. We thank our partners for trusting our vision and for their ongoing commitment to security. This time, we welcome three protocols:
Angle protocol: Angle is a capital-efficient, decentralized, and over-collateralized stablecoin protocol composed of smart contracts running in open blockchains.
Quidli: A web app designed for groups to share crypto as micro-rewards with top collaborators and community members through Web 2.0 tools such as browsers, email, Slack and Discord.
Insure DAO: InsureDAO is a peer-to-pool insurance market protocol built on Ethereum. The operation and management of the protocol are controlled by a DAO, and anyone with access to Ethereum can create, purchase, and underwrite any insurance without KYC.
We can’t reveal too much, but we have some big players joining the Hats ecosystem, stay in the lookout for those announcements.
V2 Audit Competition is Live
After two external audits we are officially kicking off an audit competition for Hats V2. This competition will be a little different from our past CTF challenges or ongoing bug bounties, but it will be equally fun! Beginning October 28th, security researchers can enter the competition for a chance to win up to $40K in prices.
Read the rules and guidelines here
Challenge Accepted: Phonon DAO
Earlier this month, Phonon DAO challenged the Hats community to find a vulnerability in their codebase. Let’s show them what we are about!
This vault will last approximately 2 months, and it will reward anyone that finds vulnerabilities such as double spending and private keys duplication. It is important to mention that to qualify for their bug bounties, security researchers must first order and receive the phonon developer kit, which they can redeem for $250 USD in $PHONON after the completion of their testnet tasklist. More complex vulnerabilities will be paid as a bonus via the grant vault.
CTF #2 Final Review
We launched our second capture the flag challenge this month and we were amazed to see the ongoing support of our dev community. We received over 50 submissions from all over the world, and we even got some requests to translate future challenges to other languages. We can’t wait to share our next CTF! In the meantime, we look forward to seeing your participation in our audit competition.
The Embassy Collection
We got to interview the artist behind our latest NFT collection, which serves as proof of deposit for our airdrop machine and grants access to the security council. Check out the interview and learn about the NFT perks.
This is all for the month of october, see you next month!
-Hats Finance
