Blend Capital hosted a developer meeting showcasing Blend V2 security initiatives, including a $125,000 USDC competitive audit and formal verification competition. The first-ever open security competition in the Stellar ecosystem runs through March 17th, inviting developers to find bugs and write formal verification rules.
The Stellar Developer Meeting featured Blend Capital's code walkthrough for Blend V2, introducing a groundbreaking $125,000 USDC security competition combining competitive auditing and formal verification. Alex Blanche from Script3 explained Blend's architecture, including the emitter contract, backstop module, pool factory, and pool contracts, then walked through testing strategies and the Fee Vault contract. Shadon and Armin from Sertora demonstrated the formal verification framework using Cavalier specifications, Rust features for selective compilation, and non-determinism macros. The competition, open to Stellar developers, focuses on the backstop crate and includes integration testing examples, debugging tools, and comprehensive documentation to help participants identify vulnerabilities and write formal verification properties.