Community Update #12 - 1st Liquidity Rewards Released

Payout to liquidity providers + HBT utility in a nutshell + start of Habitat bug-bounty program

Summary

  • The first 41.702 HBT has been successfully released to all addresses that provided liquidity @ Uniswap V2 between March 10 2021 to June 2 2021 for at least 1 day.

  • You can use these fresh HBT to add even more liquidty to uniswap v2 and gain new rewards OR you can save the HBT for the upcoming staking rewards on Habitat v1.0

  • Additionally, we are opening a bug bounty program with a 50,000 DAI prize money if protocol critical bugs have been identified.


Liquidity Rewards Released

Instead of claiming the rewards yourself and paying gas fees Habitat already released the first round of rewards. So check your balances folks.

As stated in #11 the first payout amount is limited to max 500 HBT per address - to prevent 🐳 dumping on 🐟 . You can see the remaining payout rewards here.

Read more on the following rewards in Habitat’s last blog post.


New Utility of HBT

But wait, don’t sell your hardly earned HBT just yet ;)

  1. Liquidity Round 2 🧼. You can still add liquidity to the v2 uniswap pool and get a share of the 5.000 HBT that are promised to liquidity providers per week. This new program will continue to persist until a new liquidity strategy (currently in development and discussed with the community) is released during mainnet. See the current yield and your open position here.

  2. HBT Staking 📚. The first mainnet version of Habitat will allow you to deposit HBT to use the rollup dapp as gas token but also as voting tokens to either signal new features, upgrades and improvements OR vote on rollup parameters. Every HBT token you deposit will accrue staking rewards based on the frequency of usage of users and communities on Habitat (operator fee). The community reserve will also subsidize these rewards in the first months of the project.


Bug Bounty

To ensure safety of user funds when depositing assets on Habitat the team is currently doing an in-depth internal audit. This contains v1.0 Habitat features and the underlying rollup infrastructure of nutberry.

An external audit is planned and will be done later this year - based on the community deciding to release community funds for it. To already identify bugs that harm user funds, operational security and the integrity of Habitat - a Bug Bounty has been set.

Main Reward

50,000 DAI as a reward for identifying critical bugs such as: lost of funds or chaining of exploits

Other Rewards

up to 25,000 DAI for medium exploits or critical chain state bugs
up to 5000 DAI for medium chain state bugs and logical errors that leads to freezing of funds
no payout for styling or syntactic sugar

The bug bounties cover all Habitat related contracts and the following repositories:

  1. https://github.com/0xHabitat/habitat/tree/master/src/rollup

  2. To Be Published

Ongoing Steps

  • HBT staking functionalities

  • Focus on internal audit to release Habitat on mainnet

  • Ongoing interface design and front-end work (probably released step-by-step after Habitat mainnet)

  • One-pager as an explainer to DAOs and token holder