OpenLeverage Testnet V2 goes alive

Bashing our latest version on the Kovan testnet.

Today, we are announcing the deployment of OpenLeverage Testnet V2 on Ethereum Kovan testnet, where you can create money markets supporting margin trading with arbitrary pairs on Uniswap V2 and V3.

If you’re new to using Ethereum testnet, please see our starter guide before proceeding.

On Testnet V1, more than 25,000 unique addresses participated in the testing, and more than 100,000 transactions were processed. Rewards for weekly missions and bug bounty during Testnet V1 have been well recorded, and new weekly missions and bug bounty will continue with V2.

Testnet V2 Key Upgrades

• Integrated with both Uniswap V2 and V3 liquidity pools. The protocol now automatically sources to the best liquidity pools of Uniswap V2 or V3 on market creation to make sure to have the smallest slippage for trading and risk management. A future release will allow to aggregate with more highly liquid DEX so trades to be routed to obtain better prices and the lowest possible fees.
• Introducing OnDemand Oracle to more effectively protect positions from price manipulation and flash loan attacks while enabling lending and margin trading for arbitrary pairs that have sufficient liquidity. OpenLeverage doesn’t rely on oracles that piping from off-chain prices. Instead, it makes use of TWAP prices provided by Uniswap (or its forks) to build reliable price feeds that are updated based on trading interest to avoid expensive or continual price feed maintenance.
• The lending market page is upgraded to provide market risk info. Calculated from the transactions data on-chain, you can now refer to 45-day price and liquidity volatility to understand market and liquidity risks while making trading and lending decisions.
• Real-time market data directly from the chain. We built real-time price feeds to be illustrated on the TradingView price chart to ensure the price authenticity and reflect the real-time risk.

Documentation
The OpenLeverage Protocol and the smart contract architecture have had some significant improvements and changes; start by reading the full documentation.

Bug Bounty on V2
OpenLevearage has been audited by both PeckShield and Certik, and no significant security issues were found. However, as with any smart contract, there may be undiscovered bugs — therefore if you report a critical flaw in the protocol, we are offering a significant bug bounty.

For the up to $20,000 bug bounty details, click here.

Try OpenLeverage Testnet V2 now!

To discuss the changes, or have feedback on the new version, join our Discord and we’d love to hear from you!