Audit Comp | eBTC
eBTC is a collateralized crypto asset soft pegged to the price of Bitcoin and built on the Ethereum network. It is based on the Liquity protocol and backed exclusively by Staked Ether (stETH). The protocol is designed with an immutable core with minimized counterparty reliance and governance.
Status
This Audit Competition Is Over
Audit Competition cards for security researchers with paid reports are available here.
All paid bug reports are available in original format [here](https://github.com/immunefi-team/Bounty_Boosts/tree/main/BadgerDAO%20(eBTC).
Immunefi vault program
Rewards
Rewards by Threat Level
The reward pool will be fully distributed among participants. The size depends on the bugs found:
- If no High or Critical severity bugs are found the reward pool will be $50,000 USD
- If one or more High severity bugs are found the reward pool will be $100,000 USD
- If one or more Critical severity bugs are found the reward pool will be $200,000 USD
For this audit competition, duplicates and private known issues are valid for a reward.
These reward terms are a summary, for the full details read our eBTC Audit Competition Reward Terms.
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.
Reward Payment Terms
Payouts are handled by the BadgerDAO team directly and are denominated in USD. However, payments are done in USDC.
Rewards will be distributed all at once based on Immunefi’s distribution terms after the event has concluded and the final bug reports have been resolved.
Program Overview
eBTC is a collateralized crypto asset soft pegged to the price of Bitcoin and built on the Ethereum network. It is based on the Liquity protocol and backed exclusively by Staked Ether (stETH). The protocol is designed with an immutable core with minimized counterparty reliance and governance.
It’s designed to be the most decentralized synthetic BTC in DeFi and offers the ability for anyone in the world to borrow BTC at no cost.
After locking up stETH as collateral and creating an individual position called a CDP, the user can get instant liquidity by minting eBTC. Each CDP is required to be collateralized at a fixed minimum ratio determined by the protocol.
The redemption and liquidation mechanisms help ensure that stability is maintained through economically-driven user interactions and arbitrage, rather than through active governance or monetary interventions.
eBTC is built by BadgerDAO. For more information about eBTC, please visit twitter and the docs.
KYC not required
No KYC information is required for payout processing.
Proof of Concept
Proof of concept is always required for all severities.
Prohibited Activities
- Any testing on mainnet or public testnet deployed code; all testing should be done on local-forks of either public testnet or mainnet
- Any testing with pricing oracles or third-party smart contracts
- Attempting phishing or other social engineering attacks against our employees and/or customers
- Any testing with third-party systems and applications (e.g. browser extensions) as well as websites (e.g. SSO providers, advertising networks)
- Any denial of service attacks that are executed against project assets
- Automated testing of services that generates significant amounts of traffic
- Public disclosure of an unpatched vulnerability in an embargoed bounty
- Any other actions prohibited by the Immunefi Rules
Feasibility Limitations
The project may be receiving reports that are valid (the bug and attack vector are real) and cite assets and impacts that are in scope, but there may be obstacles or barriers to executing the attack in the real world. In other words, there is a question about how feasible the attack really is. Conversely, there may also be mitigation measures that projects can take to prevent the impact of the bug, which are not feasible or would require unconventional action and hence, should not be used as reasons for downgrading a bug's severity. Therefore, Immunefi has developed a set of feasibility limitation standards which by default states what security researchers, as well as projects, can or cannot cite when reviewing a bug report.