Decentralized trading platform Tinyman launches version 2.0 and new human-readable programming language “Tealish” at Algorand Decipher event in Dubai

New public bug bounty program commits to $250,000 in rewards for participants

DUBAI and BOSTON, November 30, 2022 /PRNewswire/ — Tinyman introduced version 2.0 of its decentralized trading platform and its new human-readable Algorand Virtual Machine (AVM) programming language called “Tealish” at Decipher 2022, the annual gathering of Algorand’s builders, founders, investors and strategists at Madinat Jumeirah this week in Dubai. Tinyman will also launch and is committed to a new public bug bounty program in partnership with Immunefi $250,000 in rewards for participants through the generous support of the Algorand Foundation.

The next-generation protocol features open-source smart contracts and is written entirely with “Tealish”, which allows TEAL to be written in a human-readable format. The smart contracts in version 2.0 are open source for public feedback, allowing the Algorand community and its ecosystem of developers to review and integrate the contracts before the official launch. A period of approximately two months will be allowed for feedback and public review before Tinyman v2.0 is released to mainnet, which is expected in January 2023. V2.0 performance improvements include removing unnecessary app opt-ins and minimizing friction in the user experience. It also brings new features such as Composable Calls, Flexible Liquidity Management (FLEX), Metapools, Flash Loans, Flash Swaps and Dynamic Fees.

All contract codes can be found in Tinyman’s GitHub accounts along with technical documentation. The results of the first part of the Tinyman v2.0 audit reports, performed by Runtime Verification, are also published on Github.

More information about the Public Bug Bounty program can be found here.

Fergal WalschCTO, Tinyman: “The protocol specifications and contracts were analyzed and reviewed at multiple levels to try to identify many different issues. We have worked with the examiners to make the examination process more transparent than usual. In the coming weeks we will tell you more about this with links to the reports and all the supporting material.”

Kaan EryilmazCEO, Tinyman: “At Tinyman, we have always pushed for transparency and interoperability within the ecosystem. Tinyman v2.0 follows these principles as we open our contracts early. The aim is to improve our user experience on our user interface and on a technical level. We see the time ahead as a unique opportunity to develop a true community-driven product, as our top priority is to grow alongside the Algorand ecosystem.”

About Tinyman

Tinyman is a decentralized trading protocol that leverages the fast and secure Algorand blockchain framework to create an open and secure marketplace for traders, liquidity providers and developers. Built by a team of experienced app developers, Tinyman is dedicated to unlocking the full potential of DeFi, or financial instruments running on blockchain that are inclusive, accessible, and profitable for users far and wide. The community-focused, cheap, fast, and completely royalty-free Tinyman protocol allows users to trade any Algorand standard asset (or algo) across liquidity pools using an Automated Market Maker (AMM) algorithm. Visit tinyman.org for more information

Media contact: [email protected]

About Algorand

Founded by a Turing Award-winning cryptographer Silvio Micali, Algorand’s high-performance Layer 1 blockchain is unparalleled in bringing fast, frictionless, and inclusive technologies to everyone. Algorand is reshaping every industry – from TradFi and DeFi to new creator economies and beyond. With an exceptional commitment to interoperability and consistent delivery, its sustainable technology enables greater participation, transparency and efficiency for all. As the technology of choice for more than 2,000 global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols and value exchange. Visit www.algorand.com for more information.

Media contact: [email protected]

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SOURCE Algorand

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