Erdos's problem on the length of lemniscates (it is somewhat famous in certain narrow circles). Let $P$ be a polynomial, and consider the set $E=\{ z:|P(z)|=1\}$ in the complex plane.
What is the maximum length of $E$ over all monic polynomials of degree $d$?
Erdos conjectured that an extremal $P$ is $P_0(z)=z^d+1$.
It is known that the asymptotic of maximal length is $2d+o(d).$ It is known that $P_0$ gives a local maximum. It is also known that for every extremal polynomial, all critical points lie on $E$, so $E$ must be connected.
However the conjecture is not established even for $d=3$.
After Erdos's death, I offered a $200 prize for the first solution. (Erdos had offered the same, but I do not know whether one can collect his prize.)