Join the Immunefi Discord serverLet's do it
1 March 2021
Alchemix is a DeFi protocol that allows for the creation of synthetic tokens that represent the future yield of a deposit. It enables users to retrieve near instant tokenized value against temporary deposits of stablecoins. A magic money potion if you will, however one that is crafted in Defi with perhaps a sprinkling of ancient wisdom. The protocol presents a powerful new DeFi primitive offering myriad applications for users and an exciting new tool for other developers.
Version one of the Alchemix protocol will be launched with a synthetic derivative, “alUSD,” which will be mintable using DAI (other stablecoins to follow). To mint alUSD, users deposit DAI into the Alchemist smart contract via our hosted UI and can then mint alUSD, up to 50% the deposited amount of DAI at a 1:1 ratio. The deposited DAI is deployed to yearn vaults to earn yield.
The bug bounty program is focused around its smart contracts and the prevention of loss of user funds, flash loan attacks, economic exploits, and contract bricking.
Verification of Alchemix’s bug bounty program on Immunefi is available at https://github.com/alchemix-finance/alchemix-protocol/blob/master/README.md
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System. This is a simplified 5-level scale, with separate scales for websites/apps and smart contracts/blockchains, encompassing everything from consequence of exploitation to privilege required to likelihood of a successful exploit.
Smart Contracts and Blockchain
Payouts are handled by the Alchemix team directly and are denominated in USD. Payouts are done in USDC, DAI, or any other stablecoin.
The team is aware of minor rounding errors and will not accept bug reports involving them unless they lead to a bricking of the contract.
We are especially interested in receiving and rewarding vulnerabilities of the following types:
The following vulnerabilities are excluded from the rewards for this bug bounty program:
The following activities are prohibited by bug bounty program:
Join our whitehat community and get notified when new bounties launch on the platform