Difference between revisions of "Qubit (QBT)"

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(Created page with "==Basics== *Based in: *Started in / Announced on: *Testnet release: *Mainnet release: [https://docs.defisafety.com/finished-reviews/qubit-finance-process-quality-revi...")
 
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*[[Testnet]] release:
*[[Testnet]] release:
*[[Mainnet]] release: [https://docs.defisafety.com/finished-reviews/qubit-finance-process-quality-review#audits July 19th 2021.]
*[[Mainnet]] release: [https://docs.defisafety.com/finished-reviews/qubit-finance-process-quality-review#audits July 19th 2021.]
*Lending protocol [https://pancakebunny.medium.com/introducing-qubit-qbt-innovating-lending-and-borrowing-on-the-bsc-9f3fe6438f44 launched] by the team behind [https://rekt.news/pancakebunny-rekt/ repeat] [https://rekt.news/pancakebunny2-rekt/ offender] [[Pancake Bunny (BUNNY)|PancakeBunny]].


==History==
==History==
Line 17: Line 18:


===Bugs/Exploits===
===Bugs/Exploits===
* [https://weekinethereum.substack.com/p/week-in-ethereum-news-february-5 From] [[Week In Ethereum|Week in Ethereum]] (5-2-2022):
''"Qubit bridge [https://blog.theori.io/news/qubit-post-mortem/ post-mortem], code modified after audit, additional mitigations could have reduced risk."''
* [https://rekt.news/qubit-rekt/ From] [[Rekt]] (28-1-2022):
''"The attacker took advantage of a logic bug in the code which made xETH available for use on [[Binance|BSC]] without having deposited ETH on [[Ethereum (ETH)|Ethereum]]. The attacker’s Ethereum [[address]] was funded from [[Tornado Cash (TORN)|Tornado Cash]] shortly before the exploit commenced at approximately 21:30 PM +UTC on January 27th 2022. They used this collateral to borrow [[Wrapped Ethereum (WETH)|WETH]], BTC-B, USD stablecoins, and [[Pancakeswap (CAKE)|CAKE]], [[Pancake Bunny (BUNNY)|BUNNY]], and [[MDX]] before swapping everything for a total of 200k BNB (~$80M), which remains in the BSC [[address]]."''
==Governance==
==Governance==
===Admin Keys===
===Admin Keys===
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===Implementations===
===Implementations===


*Built on:
*Built on: [[Binance|BSC]]
*Programming language used:
 
===How it works===


====Transaction Details====
* [https://rekt.news/qubit-rekt/ From] [[Rekt]] (28-1-2022):


*Capacity ([[TPS]]):
''"Qubit allows for [[Cross Chain|cross-chain]] collateralisation, locking assets on [[Ethereum (ETH)|Ethereum]] to borrow against on [[Binance|BSC]] via the QBridge deposit function."''
*[[Latency]]:


===How it works===
===Fees===
===Fees===
===Upgrades===
===Upgrades===
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===Team===
===Team===


*Full team can be found [here].
*[https://pancakebunny.medium.com/introducing-qubit-qbt-innovating-lending-and-borrowing-on-the-bsc-9f3fe6438f44 Launched] by the team behind [https://rekt.news/pancakebunny-rekt/ repeat] [https://rekt.news/pancakebunny2-rekt/ offender] [[Pancake Bunny (BUNNY)|PancakeBunny]].


===Funding===
===Funding===

Latest revision as of 08:37, 2 March 2022

Basics

History

Audits & Exploits

  • The developers of Qubit Finance, Mound Finance, have a bug bounty program with Immunefi since July 20th 2021. It rewards participating users with up to 250k for the most critical of finds (31-8-2021).
  • Scored a 43% on DeFi Safety (31-8-2021):

"PeckShield published a Qubit Finance audit report on August 13th 2021, which was after their mainnet launch that took place on July 19th 2021. However changes requested were fixed.

Note: Most fix recommendations were successfully implemented by the Qubit Finance team."

Bugs/Exploits

"Qubit bridge post-mortem, code modified after audit, additional mitigations could have reduced risk."

"The attacker took advantage of a logic bug in the code which made xETH available for use on BSC without having deposited ETH on Ethereum. The attacker’s Ethereum address was funded from Tornado Cash shortly before the exploit commenced at approximately 21:30 PM +UTC on January 27th 2022. They used this collateral to borrow WETH, BTC-B, USD stablecoins, and CAKE, BUNNY, and MDX before swapping everything for a total of 200k BNB (~$80M), which remains in the BSC address."

Governance

Admin Keys

"There are currently no admin access controls documented in the Qubit Finance documentation. However, the addition of a Governance section is mentioned in their development roadmap. There is no evidence of a Pause Control or a similar function in the Qubit Finance documentation."

DAO

Treasury

Token

Launch

Token Allocation

Utility

Other Details

Stablecoin

Coin Distribution

Technology

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].

Implementations

How it works

"Qubit allows for cross-chain collateralisation, locking assets on Ethereum to borrow against on BSC via the QBridge deposit function."

Fees

Upgrades

Mining

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

Funding

Partners

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