$80,000 USDC. It’s yours for the taking.

Tracer is excited to announce the engagement of Code Arena (Code 423n4) to audit the Tracer Perpetual Swaps contracts as a bug bounty. The primary aim of the audit is to locate bugs, exploits and security concerns throughout the protocol code. Lion’s Mane has generously put together $80,000 USDC for the bounty award pool. The contest will run from 24/06/2021 12am UTC until 01/07/2021 12am UTC.

Code 423n4 is a new, community-driven organisation that has devised a novel way of performing the crucial service of auditing smart contract code. Code 423n4 reviews code with a competitive, crowd-sourced process where all participants “eat what they kill”, as they compete to be the champion of the arena. In addition to the earlier audit performed by Sigma Prime, this second audit accords with Tracer’s vision of deploying impenetrable smart contracts.

By throwing the duty of auditing smart contract code to the community, Code 423n4 allows any skillful developer to gain rewards for their services. It is completely time flexible, with participants free to start and end their reviews whenever they choose. It also allows for specialisation, with the goal for each participant to not find all the bugs, but the bugs they want to find. Highly specialised security researchers stand to earn lucrative rewards for finding rare, high-risk bugs.

This new method of crowd-sourcing developer talent to perform auditing services is extremely powerful. Not only is it an antidote to the inefficiencies of engaging a traditional auditing firm, but it allows unknown talent to gain recognition, perhaps for the first time. The clever incentive structure helps drive creativity, diligence, effort, and quality. The chance to earn relative to your skill and effort means more interest and creativity from security auditors.

Tracer urges all interested developers to join in on the bounty. $80,000 USDC is up for grabs. Enter the arena and prove yourself.

To get involved and find out more, see all the Code 423n4 resources here, and join their Discord here.