Resonate Summer Update
Hey everyone! While our full launch looms ever closer, we think that now is an opportune time to provide some much-needed updates from the Revest Finance team — much has been going on, and we’re very excited to begin sharing a bit of that with yall today.
Today, we’re proud to announce the launch of the Resonate Closed-Beta! Both our codebase and dApp have reached a point of maturity where they need to be stress-tested by our friends in the development and crypto community. We’re running this beta testing on Fantom using fractions of pennies and we look forward to the feedback it will bring for us as we hone our system in preparation for launch.
Resonate has recently passed both a BlockSec audit and a Zellic audit! We’re grateful to these professionals for their contributions to the security of our systems and worked closely with them during the auditing process to ensure that all feedback was implemented in an efficacious manner. We’re also happy to announce that we’ve successfully concluded a follow-up audit with BlockSec to focus specifically on Resonate’s oracle system! In a similar vein and through a stroke of serendipity, our Founder, Rob Montgomery, made friends with another couple at dinner recently, one of whom turned out to be an Ethereum security researcher working at a Georgia Tech-based security firm, PwnedNoMore. These DevCon-winning researchers are now in the process of onboarding Resonate into their experimental next-generation business-level fuzzing environment, which will bombard Resonate and the Revest Protocol with random information in an attempt to break them. We’re excited to see what they can find!
To further ensure the security of Resonate prior to launch, we’ve been running a private bug-bounty program amongst our developer friends and their networks. We’re happy to announce that one of the core contributors to a prospective launch partner, GalloDaSballo, was able to discover several unnoticed vulnerabilities within Resonate’s code. The Revest Finance dev team of RobAnon, 0xTraub, and 0xTinder has successfully patched all vectors discovered and Gallo has been paid $6500 for his successful bounty. We’re very grateful to him for his help, and even more grateful that all issues discovered required governance privileges, with no public-facing direct threats being discovered. Resonate is designed as a trustless system and we’re continuing our work with people like Gallo to ensure that our governance system won’t ever possess power it isn’t meant to have.
Continuing in the theme of code security, while developing Resonate it became clear that we needed a method to robustly value not just for Uniswap LPs, but also for LPs with multiple tokens and arbitrary weights (such as Balancer LPs). Our excellent analyst, andany, derived a formula for such an on-chain oracle in-house and recorded a formal mathematical proof to its immunity against reserve manipulation attacks. The implementation of this oracle has been given the thumbs-up by BlockSec and represents the first Balancer LP token (BPT) oracle to be able to handle an arbitrary number of tokens. The derivation itself may be headed for a formal publication and we’re very proud of andany’s work!
On the business side, our business-development team has been hard at work contacting a variety of protocols and sharing the benefits that Resonate can offer them. Proposals have been going up, feedback has integrated, and our governance machine is now humming along. We’re very excited to share the full roster of our launch partnerships for Resonate with you soon!
The Resonate docs are now available to for public review — if you’ve been wondering what exactly Resonate does and how it does, this is the place to begin. We look forward to sharing more with you through direct channels as launch approaches.
That concludes the updates we have for y’all thus far. But, have no doubt, there’s going to be much more to come, as we get closer and closer to the full launch of Resonate. Things are about to get interesting!!!