Blockchain
Unitas Protocol Launches Testnet after Completing Smart Contract Security Audits by Sherlock
DeFi stablecoin protocol Unitas has deployed its testnet on Sepolia on 17 July 2023 and is open for participation after completing security audits done by Sherlock, a leading smart contract coverage protocol and audit marketplace built on the Ethereum blockchain.
The necessary actions to address minor issues identified in this audit contest have been successfully implemented. To participate in the Unitas Protocol testnet, please join the Unitas Testnet Telegram Channel to get test tokens. The mainnet is scheduled to be live on 31 July 2023.
To ensure Unitas protocol’s best quality of security and stability, the Unitas Foundation partnered with Sherlock to conduct a public smart contract audit competition. This contest was open to the public to engage Web3 security communities to find and report issues and vulnerabilities in any part of Unitas protocol. Over 200 security professionals from around the world participated in the 7-day contest.
“Having a security-first mindset is key to success in Web3,” said Sun Huang, co-founder and Chief Technology Officer of Unitas Foundation. “As a cybersecurity expert with over 15 years of experience from internet to blockchain, I believe the high standards we uphold lays a solid foundation for Unitas to serve emerging markets with its unitized stablecoins, such as USD91, USD971, USD84, and more.”
Unitas Protocol is happy to announce that it has completed an extensive and comprehensive security audit conducted by Sherlock. Auditors and judges in this contest reviewed unintended exploit potential in Unitas Protocol’s smart contract, such as security design, formula, oracle, and potential risks.
The Unitas team welcomes everyone to participate in its testnet (currently available only on desktop) and is confident to move toward mainnet launch. It would like to take this opportunity to express their gratitude to Sherlock and Lead Auditors weiss.eth and ctf_sec for their support and assistance throughout the smart contract audit process for Unitas Protocol.
Unitas Protocol defines a new stablecoin category — unitized stablecoins, which serve as Units of Account representing emerging market currencies.
Unitas stablecoins allow its users to enjoy ease in transaction and efficiency for people who have demand for, and are familiar and comfortable with emerging market currencies and price quotes. It also allows better access to USD liquidity as the protocol is over-reserved with exogenous USD stablecoins such as USDT and USDC and participants can mint unitized stablecoins with such USD stablecoins.
The concept is to “unitize” a USD stablecoin into one local currency unit. Unitas stablecoins are affixed with their corresponding country code, e.g. USD91 for Indian Rupee, USD971 for UAE Dirham, and USD1 for US Dollar. Unitas Protocol is essentially a value translator between USD and other currencies and guarantees that each Unitas stablecoin can unconditionally convert back to a USD stablecoin.
CoinEx, a global cryptocurrency exchange known for its commitment to simplifying crypto trading, is thrilled to announce its participation in the upcoming Bitcoin MENA Conference, which will take place on December 9-10, 2024. This prestigious event marks the first-ever Middle East and North Africa (MENA) edition of the globally renowned Bitcoin Conference, recognized as one of the cryptocurrency industry’s most significant intellectual property platforms.
Bitcoin MENA: A Ground-breaking Milestone for the Crypto Industry
The Bitcoin Conference series has built a reputation as a cornerstone event for the cryptocurrency ecosystem, bringing together innovators, industry leaders, and enthusiasts from around the globe. Its expansion into the MENA region signals the growing influence of cryptocurrencies and blockchain technology in this dynamic market. The Abu Dhabi edition aims to foster dialogue, collaboration, and innovation in a region poised for rapid crypto adoption.
Keynote speakers include Eric Trump, Executive Vice President ∙ The Trump Organization, Marwan Al Zarouni, CEO of AI ∙ Dubai Department of Economy & Tourism, and Saifedean Ammous, CEO of Saifedean.com. Their presence underscores the global importance of the event, as they are set to share unique insights into the cryptocurrency space and its potential impact on economies worldwide.
CoinEx: Expanding Localized Outreach in MENA
CoinEx is proud to sponsor the BitcoinMENA Conference, reflecting its ongoing commitment to growing its presence in the MENA region. As part of its sponsorship, CoinEx has secured a prominent booth at the exhibition hall and has also placed large-scale advertisements at the venue’s main entrances and exits, ensuring high visibility throughout the event.
The sponsorship aligns with CoinEx’s strategy to deepen its localized efforts in the MENA market, a region characterized by a rapidly increasing appetite for digital assets and blockchain solutions. By actively engaging with local communities, CoinEx aims to make cryptocurrency trading more accessible while fostering trust and education in the space.
Exciting On-Site Activities and Giveaways
Visitors to the CoinEx booth will be treated to an array of interactive activities designed to make their experience both fun and rewarding. Attendees will have the chance to participate in prize-winning games and activities, with exclusive CoinEx-branded merchandise and crypto rewards up for grabs.
CoinEx invites everyone to stop by the booth, engage with the team, and learn more about the user-friendly platform and innovative offerings. Whether you are new to cryptocurrencies or a seasoned trader, the CoinEx team is ready to assist and answer questions, offering insights into the platform’s features, such as easy-to-navigate trading interfaces, robust security measures, and diverse asset options.
Building Bridges in MENA’s Crypto Space
With the MENA region emerging as a hub for fintech innovation, CoinEx sees Bitcoin MENA as the perfect platform to showcase our strengths and connect with industry stakeholders. The exchange aims to establish new partnerships, strengthen the regional network, and better understand the unique needs of users in this market.
CoinEx’s participation is a testament to the dedication to making cryptocurrencies accessible to users globally, regardless of their level of expertise or geographic location. By engaging directly with the vibrant MENA crypto community, CoinEx is taking significant strides toward shaping the future of digital finance in the region.
Join CoinEx at Bitcoin MENA
The Bitcoin MENA Conference is set to be an unforgettable gathering, featuring insightful keynotes, engaging panel discussions, and opportunities to network with some of the biggest names in the crypto world.
CoinEx warmly welcomes all attendees to visit their booth M-086! Participate in the fun activities and explore how the platform can empower them to navigate the evolving crypto landscape.
Don’t miss the opportunity to connect with CoinEx at Bitcoin MENA, December 9-10, 2024, in Abu Dhabi. Let’s build the future of crypto together!
The post CoinEx to Light Up Bitcoin MENA 2024: Join the Crypto Evolution in Abu Dhabi! appeared first on News, Events, Advertising Options.
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