Umee Bounty - Liquidation Bot
Overview
Liquidation bots are widely used by lending protocols to automatically seek and liquidate undercollateralized loan positions. As a decentralized lending blockchain, Umee counts on liquidation bots to keep our platform healthy. So, we are announcing a bounty program to incentivize the community to build and run liquidation bots on Umee as we onboard more assets and TVL!
Bounty Requirements
Umee liquidation bot factors:
- Source code is kept public; if it is private, the source code and the right to use is granted to Umee.
- Capital Efficiency: The bot maximizes profit while minimizing cost; transactions should be executed at a fast speed.
- Security: The bot must have strong security measures to protect users' funds and data.
- User Experience: The bot must be easy to use
- Scalability: The bot should be able to handle increasing numbers of assets and transactions without sacrificing performance or reliability.
- Innovation: The bot has unique features or approaches that set it apart from existing solutions.
Submission
- Submit the github link that contains the source code and all details necessary on the DeWork task bounty.
- In order to get access to DeWork, assign yourself the “CD Contributor” role on Umee’s Official Discord.
- Note: For any issues, please reach out to Cris#5555.
- Share the news about the bounty on Twitter with fellow developers.
Additional Information
We have a manual liquidation guide prepared for you. You can find it here.
Rewards
The competition will end once there are enough satisfactory submissions created, if there are not any adequate submissions by March, 31st, the bounty will be closed.Based on the submissions, we will select the best submissions that meet the most requirements:
- Up to $4000 per submission in Umee tokens
- Resources to improve the bot and continue running it
- Validator Delegation (if applicable)
For more updates on Umee, stay connected with our official channels.