XBE Bug Bounty Vote Result

The XBE Bug Bounty vote (here) allocating $500,000 in treasury XBE towards bounty rewards will close today, however with more than 50% of veXBE having voted in favour of the proposal it has already passed!

This is a wonderful step forward for the XBE Protocol and a big thank you to all the community members who participated in the vote. 

Several members have come forward with suggestions on engaging reputable white hat communities, and together with active researchers already in the XBE community this will make for a formidable team to do community vetting of the new contracts. 

More information on next steps to follow.

Audit Progress

The Hive updates to the current Controller and SushiVault contracts have passed audit along with the far greater majority of other contracts! 

Our auditors however have insisted on a final “end-to-end” audit pass before making the report available to ensure that the respective fixes have not inadvertently created new macro risks, and this is expected to complete imminently.

$50k XBE Reward Bug Bounty Soft Launch!

To kick off the Bug Bounty program, the updated Controller, SushiStrategy and SushiVault contracts have been deployed to mainnet and a $50,000 XBE reward is being offered to the community for the discovery of any critical vulnerability. 

The contract addresses are as follows:

  • Controller: 0x8b6dF15aeea4Bc6387889EE6ff9cb9bd1D56C606,
  • SushiStrategy: 0xDedD85F5811F6bAaEd77FA987b89084ADf0786C8,
  • SushiVault: 0xa4D94Ff014c48F1032fe2c558Ec7ECD035276F3b,

The Soft Launch Bug Bounty reward period will end when the final audit is released early next week, at which point the other Hive contracts will be deployed and the formal bug bounty program will start!

XBE AND XBF Rewards Tomorrow!

In preparation for the upcoming XBF snapshot, XBE Rewards for XBE Stakers and Lockers are back from tomorrow (Thursday 18 November) in a MASSIVE reward week.

If you have not yet locked up tokens for veXBE, this is a massive incentive to do so with APR’s projected at over 300% at full boost!

While the updated SushiStrategy and SushiVault contracts are in bug bounty and we await final audit release, XBE rewards for LPs are unfortunately not practical. 

The best way available to recognise our loyal XBE LP providers right now is to squeeze out a further 360 XBF reward allocation to them over the next week!

To trace and keep track of your XBF rewards, the official App UI will shortly include a new XBF Reward Transparency Report tool that will allow you to verify the exact amount of XBF rewards you’ve earned for either XBE Staking and Locking, or for providing LP to the WETH/XBE Sushi pool, summarised over the completed XBF reward periods. 

This same report will also be updated to include a line item for veXBE holders once the XBF L2 Snapshot occurs.

DAO Time!

In line with the move over to a community-controlled DAO we would like to open the floor for community members to put themselves forward to be multi-sig signers of the XB Protocol. 

The XB protocol is already community owned and governed, however it’s important that material contract permissions, Minting Keys, and contract ownerships are all passed to the DAO address under the control of community members and contributors.

This handover process will work as follows:

  • A GNOSIS multisig will be created with 5 total signatures
  • All contract rights, contract ownerships, admin functions, ENS, snapshot spaces and minting rights will be transferred to this GNOSIS.
  • We wish to start with 5 multisig signers for the protocol.
  • 3/5 required for immediate signatures
  • Every Quarter, or when urgently needed, the multisig signers must be updated. The inactive signers will need to resign and allow new active signers to participate.
  • The Role of this GNOSIS is to enact the outcome of successful governance votes defined in the Snapshot.org XBE Finance Space: https://snapshot.org/#/xbefinance.eth
  • All votes must be tabled for discussion on the forums found here: https://gov.xbe.finance, and must be uploaded thereafter to the XBE Finance Space on Snapshot.org
  • The DAO will be responsible for the full disclosure and transactional audits of any funds transferred from XBE treasury, and treasury fund recipients will also be required to do the same.
  • Multisig signers may maintain public anonymity to the community, but must be known and doxxed to every other member of the DAO.

Any community member will be able to volunteer for the role of multisig by submitting their nomination to [email protected], and the final vetted list of candidates will be made available for community vote in a coming proposal.

This process does not reflect a change in the commitment and support we as a team have for the protocol, and we are excited to continue with just as much enthusiasm and dedication with many more proposals and product developments – but will do so in a responsible, structured, and (above all) decentralised way as a protocol contributor.

We wholeheartedly remain committed to the vision of the XB protocol, but recognise that to truly succeed we need to allow any community member to freely make their own contributions.

Therefore it’s fantastic to see that thanks to the wonderful participation by the community to date, recent awareness about the XB protocol has grown rapidly! 

With all this positive attention and holder expansion, a dedicated community funded management team could be just around the corner!