Minswap DEX Security Audit

Background

Minswap DEX is an automated multi-pool market maker for the Cardano ecosystem. We are an engineering-first team that is committed to a fair-launch, community-led project. We are bootstrapping builders who are committed to Cardano and decentralization. 

A protocol security audit of all Minswap smart contracts will be conducted by FP Complete - https://www.fpcomplete.com/. FP Complete has completed security audits for Cardano and Hedera Hashgraph.

Minswap has been working hard to ensure that Cardano DeFi users will have a safe, secure place to trade tokens upon mainnet launch. As early participants in the Alonzo White and Purple testnets we've been continually improving our contract designs for months. We have arranged a security audit with FP Complete, a Haskell specialist that has worked on projects with IOG in the past. Their experience with Cardano as well as security audits of DEXs on other blockchains gives us a high degree of confidence in their work. 

Minswap completed the first successful demo of a DEX smart contract written in Plutus over 3 months ago:

https://www.youtube.com/watch?v=NxZBj8e_Yic&t=69s

Technical Specification

- Manual code review, feedback, revision

- Unit and integration testing, identify unit test gaps, new test writes, re-test

- Review documentation, identify areas for improvement, revise, review revisions  

Funding

Total: $75,000

Budget Breakdown

This covers our initial audit of $62,500 + an additional $12,500 budgeted for our Yield Farming Contracts.

Signed an NDA regarding exact rates and engineering hours involved.

Definition of Success

1 month: Launching prototype on testnet with constant-product pool.

3 months: Complete audit and launch on the mainnet.

6 months: Launch yield farming, StableSwap pool and have basic DAO governance.

12 months: Become the leading DEX and launchpad for Cardano projects.

Features

Fair Launch: No pre-mine, no pre-sale. MIN tokens are distributed fairly with only 10% allocated to development funds.

Yield Farming: MIN tokens are rewarded to liquidity providers who stake their liquidity pool tokens.

Launchpool: Supporting new projects in Cardano ecosystem with Initial DEX Offering (IDO) and Initial Farm Offering (IFO).

Permissionless: Anybody can list tokens without permission. Anybody can trade tokens without KYC.

Community First: All trading fees go directly to liquidity providers. MIN token holders can vote democratically on protocol changes.

Ethereum Compatible: With ERC-20 Converter, users can trade Ethereum tokens at much lower fees.

Stake Pool Operators Support: Minswap supports the SPOs by a community-oriented ADA delegation policy and automatic native token fees conversion. (more details in FAQ)

Roadmap

Q4 2021: Security Audit, Test-Net, Constant-Product Pool

Q1 2022: Mainnet, Liquidity Mining, Initial DEX Offering (IDO), Initial Farm Offering (IFO)

Q2 2022: Stable Pool

Q3 2022: Decentralized Autonomous Organization (DAO), Community Governance

Expected launch date: November 25th.

Token Distribution

10% of tokens allocated to dev funds / 10% to the founding team / 1.5% for partnerships 

78.5% of all tokens for the community 🤗

Team

Our team has experience working in big companies such as Amazon Web Services (AWS), Vingroup, Sea Group and contributing to big open source projects like Jenkins, Kubernetes, Prometheus.

We have got Innovation Award at NEO Hackathon Tokyo, thus demonstrating our knowledge about DeFi and blockchain.

We are all also part of the Plutus Pioneer Program, Alonzo White, and Alonzo Purple. 

Minswap won Catalyst Fund5 for proposal Minswap - Multi-pool DEX.

FAQ

See our website 👉 https://minswap.org/#faq