Categories
DeFi tools Dev updates Events

Falcon- InstaDEX public Testnet release

Instaraise is beyond thrilled to release the Pubic testnet version of our Decentralised exchange on Tezos. Falcon has just landed on earth and anyone from Tezos community can now experience the new innovation that has come in Tezos DeFi ecosystem.

Falcon is the public testnet version of our upcoming InstaDEX which is the closest to the mainnet version of the DEX.

We proudly present the Tezos community our Public testnet version of InstaDEX which is packed with features that are never seen before in Tezos Defi.

  • The Impermanent loss protection in InstaDEX, will ensure that the community is encouraged for their efforts and not penalized by forcing them to accept impermanent loss under volatile market conditions.
  • Single asset liquidity provisioning will attract more liquidity into Tezos DeFi ecosystems allowing LPs to make greater sums. As liquidity increases, users across DeFi protocols can swap for needed tokens easily with no worries of slippage and interact with plenty more use cases and applications.

Dive deep into the inspiration and technical aspect of InstaDEX.

InstaDEX Lightpaper ➡️https://docsend.com/view/xag2x6m7t7ehi5vy

InstaDEX Overview➡️https://blog.instaraise.io/introducing-instadex/

At Instaraise, the security of our users is our number one priority. As such, we strive to provide the most secure platform possible.

Although our Devs are doing their best to find every possible vulnerability on our platform, there is always a slight possibility that a few of them could have been overlooked. Thus, we decided to introduce a bug bounty program.

Any Tezos community member can take part in the program and earn rewards by reporting the bugs they find in our public testnet version of our DEX.

Falcon Bug Bounty program

This section will give you an overview of the InstaDEX Bug Bounty Program. Please make sure you keep the ruleset in mind before investigating any issues

We will evaluate reported security issues based on the security impact to our users and the Instaraise ecosystem.

As a Bounty hunter, you will also be the early adopters of InstaDEX and a part of the Instaraise’s effort to improve Tezos DeFi. In this program you will be helping us in testing ins and outs of the DEX.

Eligibility

Since this is a public event, anyone who is willing and interested to help in building and bringing new innovation to Tezos Defi is welcome to come forward and help us on the same journey.

Scope

Our DEX has 4 main features that will be your focal points while testing which are:

Swap, Tokens, Liquidity and Faucet.

As a Bug hunter, you will be required to test Skywalker and hunt down any bugs or security concerns that might be critical for the development of the DEX

Apart from this, you are welcomed to provide your valuable suggestions and ideas that can further improve DEX functionalities. Your suggestions and feedbacks can range from UI/UX improvements, your experience with the whole DEX etc.

How to begin?

To kickstart with the testing of our DEX please visit:

 ➡️ alpha.instaraise.io

Load the testing tokens to your wallet with the Ghostnet Network via our Faucet feature. You can refer to this Video for reference: faucet

Your main objective post loading the tokens will be to test out the Swap Tokens and Liquidity features in our DEX.

(Don’t forget to toggle the Day/Night mode of the website according to your convenience)

Rewards

Total 5 winners will be selected on the basis of the criticality and the vulnerability of InstaDEX due to the bug. All the winners will share prize pool of 2000$ worth of XTZ equally ($400 each)

The distribution of the rewards will be done right after the Mainnet launch of InstaDEX

Bug Reporting

Submitting the bugs and feedbacks is as easy as posting a tweet!

After testing the ins and outs of the Falcon, you can report the bug or your feedback by simply sharing them via individual tweets or a tweet thread on Twitter with proper screenshots/videos supporting your report.

If, anyhow you are unable to find any bugs, you can even share your review about the Falcon via tweet which will be equally significant.

Make sure that you tag “@instaraise” in your tweet along with the hashtag #InstaDex and #Tezos for us to find your tweet easily.

TIP- The more elaborated and well explained is your tweet, the higher is your chance of winning!

For any other queries related to the program, contact us directly on the Instaraise official telegram community channel where our admins are always ready to help you.

Criteria for Rewards

Winners will be selected on the basis of

  • The criticality of the bugs and issues found out during your testing
  • Significance of your feedbacks for the development of the DEX
  • The level of deep testing done by the testers which will be interpreted by the quality of your bug and feedback tweets

Good luck, happy testing and many thanks to you all for ensuring that our DEX goes out smoothly with all the best of feedbacks and suggestions incorporated.