Qubit (QBT)
Basics
- Based in:
- Started in / Announced on:
- Testnet release:
- Mainnet release: July 19th 2021.
- Lending protocol launched by the team behind repeat offender PancakeBunny.
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
- From Week in Ethereum (5-2-2022):
"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
- From DeFi Safety (31-8-2021):
"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
- Built on: BSC
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
- Launched by the team behind repeat offender PancakeBunny.
Funding
Partners
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