March 8, 2023

Last update: Feb 25, 2023

On Feb 1st, 2023 at around 6:30 pm UTC, an unknown attacker was able to mint 100 million BEUR in tx 0x31957ecc43774d19f54d9968e95c69c882468b46860f921668f2c55fadd51b19 by manipulating the price of ALBT in Bonq troves. They were able to do so because of a bug in the TellorPriceFeed contract deployed by BonqDAO which reads the price of WALBT from the Tellor oracle.

Dear Bonq Community and Partners,

This document outlines the Bonq DAO Whitelisting methodology, its main categories, and factors that impact the process. Bonq DAO relies on these underlying factors to assess a web3 project /protocol’s creditworthiness and decides if a token can get whitelisted as a collateral for the Bonq liquidity platform.

BonqDAO is a technology-focused web3 non-profit decentralized autonomous organization (DAO) that develops and governs the Bonq platform. The platform allows web3 projects and protocols to create deep, protocol liquidity for their native tokens. Additionally, it provides low-risk, sustainable yields to its end users.

We’re excited to announce that BonqDAO—a decentralized liquidity platform built on top of an overcollateralized, 0% interest lending protocol—has integrated Chainlink Price Feeds on Polygon mainnet. By integrating the industry-leading decentralized oracle network, BonqDAO has access to high-quality, tamper-proof price feeds needed to help securely trigger loan liquidations and calculate redemptions for Bonq EUR (BEUR) based on accurate market data, even in volatile market conditions. This will provide our users with stronger assurances that the Bonq decentralized liquidity platform is supported by secure, reliable, and real-time price data.

As 2022 comes to an end, I would like to take a moment to reflect on the progress we've made, the innovations we've harnessed and the ongoing support we’ve received from our partners and community. We are energized and inspired by the feedback from our community and especially for all the excitement about what’s possible in leveraging the Bonq protocol. Our updates will continue to be published through our blog and our social media, so please be sure to follow us on all verticals for continued updates.

As the world continues to become more digital, so do the opportunities to steal personal/sensitive information.