Today, with the rapid development of blockchain technology, ZRX token, as an important part of the 0x protocol, is attracting more and more attention. With the launch of 0x v2, the protocol not only improves users’ trading experience but also enhances security. This article will delve into the features of the ZRX token, the new features of 0x v2, and its latest bug bounty program to help readers better understand this important blockchain project.
What is the ZRX Token?
The ZRX token is the native token of the 0x protocol and is designed to facilitate trading between decentralized exchanges (DEX). The 0x protocol allows developers to build decentralized trading platforms that enable users to trade assets without the need for an intermediary. The ZRX token plays an important role in this ecosystem, primarily used to pay transaction fees and incentivize liquidity providers.
New features of 0x v2: With the launch of 0x v2, the protocol introduces several innovative features designed to enhance users’ trading experience. Here are some key features:
1. Seamless trading experience
0x v2 provides the smoothest exchange experience, with all transactions executed at the best price, allowing users to easily exchange assets without worrying about price fluctuations.
2. Powerful monetization function: The new version introduces powerful monetization function, which will not only increase the income of liquidity providers, but also attract more users to participate in the 0x protocol.
3. Enhanced security: Security is always one of the most important considerations in blockchain projects. 0x v2’s smart contracts have been audited four times by three independent companies, including Ouroboros, Trail of Bits, and OpenZeppelin. In addition, 0x leverages Dedaub’s industry-leading security suite to continuously analyze the security of contracts to ensure that security standards are continuously improved during the development process.
Bug Bounty Program Overview
To further strengthen security, the 0x team has partnered with Immunefi to launch a bug bounty program. The program is designed to incentivize ethical hackers to discover and report vulnerabilities in the 0x v2 architecture. The following are the main contents of the plan:
1. Reward scope: The bug bounty program covers the following aspects: - 0x Settler (smart contract) - Exchange API - Fuelless API - Matcha website
2. Reward criteria: According to the Immunefi Vulnerability Severity Classification System V2.3, rewards will be distributed based on the impact of the vulnerability. The final reward amount will be paid in USDC to an Ethereum address.
3. Major reporting rewards: For critical smart contract vulnerabilities, the reward amount is 10% of the affected funds, up to a maximum of $1,000,000. This calculation is based on the time and date the vulnerability report was submitted. Additionally, to encourage security researchers to report critical vulnerabilities, the minimum reward amount is set at $100,000.
4. Advanced Reporting Rewards: Rewards for high-risk vulnerabilities involving theft or permanent freezing of unclaimed proceeds/royalties range from $35,000 to $100,000, depending on the funding at stake, with a maximum reward cap.
5. Website/Application Reporting Reward: Vulnerability reports targeting critical websites and applications will receive a $50,000 reward.
Why participate in the bug bounty program?
Participating in 0x’s bug bounty program not only provides security researchers with generous compensation, but also contributes to the security of the entire blockchain ecosystem. With the development of blockchain technology, security issues have become increasingly prominent. Such a plan can effectively reduce potential security risks and protect users’ asset security.
How to get started? If you are interested in the 0x v2 bug bounty program, you can visit the official website for more details. As the project progresses, we look forward to the participation of more security researchers to protect the security of 0x.
Summarize
The ZRX token and the 0x protocol behind it play an important role in the decentralized exchange space. With the launch of 0x v2, the protocol not only improves users’ trading experience but also enhances security. Through the bug bounty program, the 0x team hopes to attract more ethical hackers to participate in security research and further ensure the security of the ecosystem. For investors and users, this is undoubtedly a development direction worthy of attention.