Announcing our upcoming $40,000 Hackathon

STRIPS Contest Details

  1. $40,000 USDC main award pot
  2. Read our guidelines for more details
  3. Starts: 1 December 12:00pm UTC
  4. Ends: 12 December 12:00pm UTC

Introduction

Whitepaper

Key Features

The following are the key features of STRIPS:

  1. Users can long or short an interest rate market using leverage. Position collateral is in USDC.
  2. Users position pnl consists of funding pnl and trading pnl in USDC.
  1. Users can add collateral and remove collateral from their open positions above the liquidation threshold.
  2. Positions are netted for the same market. (i.e. if a trader goes long $100 and then goes short $200, his position will be -$100)
  3. Users can earn LP tokens + (USDC trading profits and fees) by staking in the AMM
  4. Users can earn LP tokens + (USDC liquidation profits by staking) in the insurance fund
  5. Users can stake STRP in governance contract and earn 20% trading fees for the whole protocol
  6. Traders and stakers can earn additional STRP rewards from trading and staking
  7. Liquidators can call function to liquidate positions with collateral and unrealized loss together is less than 3.5% of notional, and share 0.2% of liquidation profit

Contracts

link to github with all of the information necessary for the hackathon will be released on 1st December.

🔍 Scope

link to github with all of the information necessary for the hackathon will be released on 1st December.

  • Buy STRP on ethereum.
  • Bridge STRP and USDC to arbitrum
  • Stake STRP-USDC to sushi pool on arbitrum and get back LP token
  • Now staker can use LP token to stake to Market or Insurance contracts.

Rewards

The rewards will be given on a pro-rata basis based on the severity of the hack and the number of duplicate reports.

Points = Severity * (0.8^Report Counts) / Report Counts
Reward = Pot size * Points / Total Points
  • If you can find anything similarly severe which is not mentioned in examples: your severity score will be 10/10
  • If you can achieve anything mentioned in hacking examples: you will get severity score 8/10
  • If you can find technical issues such as overflow and underflow: your severity score is likely to be 5/10
  • If you can find minor issues such as missing modifier: your severity score 2/10

Important:

➡️ Following the official start on 1st December, we will release the github repo with all the necessary code and scripts for the hackathon, along with examples.

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Strips Finance

Strips Finance

To build the largest fixed income trading platform for DeFi