XBE Community Launches a $500k Bug Bounty

Decentralized technology is built to attract the smartest and brightest brains from all over the world to work towards a common goal: free and fair financial systems. Despite the uncertainties surrounding future laws, DeFi protocols are rapidly adapting and growing to provide new ways for individuals to obtain more value from their money. And this is where XBE Finance comes in.

Welcome to XBE Hive 

The XBE Hive is a Convex and Curve-based yield complementing program. This product offering aims to allow DeFi and fiat users to participate in the XB protocol. DeFi users who are already familiar with how Curve and Convex function will put their money into the XBE protocol, which will then put it into Convex and then Curve. Users can earn XBE, CVX, and CRV as a result of this. They will also be able to stake their incentives as mentioned earlier to make get more rewards in the form of XBE, cvxCRV, 3CRV, and other token fees, thanks to the focus on complementing yield.

Besides attracting the heavily involved DeFi users, one of the core focuses of the XBE Hive is to provide a regulatory compliant onramp for fiat into DeFi and further put the capital to work. The XBE Hive has partnered with regulatory compliant fiat partners worldwide, ensuring that money onboarding is respectful, transparent, and with complete real-time solvency reports available on-chain. The Hive will support USD, EUR, and ETH deposits on launch, with more offerings to follow.

How the XBE community gets involved

XBE is a protocol for DeFi users, the man on the street, and even the man on Wall Street.  Integrated Finance enables everyone to earn in DeFi regardless of your origin, allowing you to get more out of your fiat, portfolio, and DeFi instruments.

The XBE governance token is used by a decentralized community to actively participate in governance projects. With a circulating market cap of under $25 million, over 50% of tokens have been locked up for an average of 20 months, and another 28% has been staked.

The XBE community approved a bug bounty proposal worth $500,000 in XBE awards, and XBE Hive is happy to have completed a full security assessment by Peckshield.

As the XBE Hive service enters alpha testing with innovative contract installations on the leading Ethereum network (with a third security audit underway), the protocol provides these awards to lure daring DeFi smart contract testers.

Moreover, following the Hive launch, the XBE community anticipates multiple product launches and expansion onto a variety of Layer 2 networks, including the upcoming debut of the XB protocol as XBF (XB Fantom) on the Opera chain.

Several team members from Block Markets Africa, a blockchain consulting firm focusing on blockchain-based financial market infrastructures for payment service providers, and primarily Central and Commercial Banks, have been public contributors to the XBE protocol. Their experience and learnings from the Traditional Finance market assists XBE in developing a regulatory-compliant means for making the Hive service available to TradFi clients via products such as the XBE Hive Pro.

The XB Hive Pro – a retail-friendly yield

XB Hive Pro is an institutional application designed for licensed financial service providers that manage customer funds to offer their customers access to DeFi through regulatory compliant structures. XB Hive Pro specifically targets high liquidity networks like Ethereum to allow for institutional players’ more significant liquidity requirements.

What is the Easy XBE router smart contract?

The Easy XBE router smart contract was built to make it simple for new DeFi users to begin earning by staking their liquidity in the XBE protocol – even if they only have ETH in their wallets! Deposit your ETH into the contract router in the interface, and the contract router will balance your liquidity between both assets, add them to the pool, and stake your LP tokens for you, all in one spot! The quickest and most convenient way to get started with XBE!

DeFi testers will be able to engage with smart contracts and explore the full functionality of the protocol built on Curve.fi and Convexfinance.com via the alpha app’s user interface. Staking liquidity for rewards, managing portfolio, and claiming returns are all features that will keep alpha test users busy – and the XBE Hive’s on-chain referral system will credit these users with additional rewards when other users join the platform.

Catch up on the news 

Follow XBE on https://t.me/xbefinance or https://twitter.com/XBEfinance, or visit https://easy.xbe.finance, to be informed about the latest updates!