Decentralized trading protocol Bancor launches bug bounty program

Decentralized trading protocol Bancor issued a document introducing the functions of the automated market maker AMM liquidity pool. Bancor stated that the core concepts of Bancor v2 include single reserve pool tokens, mortgaged balances and current balances, dynamic weights, and price feedback. At the same time, the code of the Bancor V2 version of the smart contract was updated, including a variety of improved functions to help users and liquidity providers of the agreement. At the same time, Bancor announced the launch of a bug bounty program to incentivize the community to find errors before release. According to previous reports from Chain News, the new contract deployed by Bancor in June this year had security vulnerabilities. The vast majority of funds were transferred to safe addresses by the white hat attack initiated by Bancor, but it still caused more than $135,000 in losses.