Butter addresses misalignment and capture in crypto governance through robust mechanisms. The current focus is to solve treasury allocation for the largest DAOs within the Ethereum ecosystem by deploying Conditional Funding Markets, based on futarchy and prediction markets.
For more information about Butter, please visit https://buttery.gg
Status
This Audit Competition Is Over
Immunefi vault program
Rewards
Rewards by Threat Level
The following reward terms are a summary. For the full details read our Butter Audit Competition Reward Terms
A reward pool of $30,000 USD will be distributed among participants, if any valid bugs are found.
If not a single bug is found (Insights do not count as bugs) the reward pool is $15% of $30,000 USD rewards.
Duplicates and private known issues are valid for a reward.
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.
Rewards will be distributed all at once based on Immunefi’s distribution formula after the event has concluded and the final bug reports have been resolved.
Insight Rewards Payment Terms
Insight Rewards: Portion of the Rewards Pool
*The "Insight" severity was introduced on Boost (Audit Competitions) & Attackathon programs to recognize contributions that extend beyond identifying immediate vulnerabilities. Currently, it's not an option to select the Insight severity when submitting a report. However, our team or program will designate it accordingly if applicable. "Insights" underscores our commitment to valuing all types of contributions that contribute to a more secure environment and will always be rewarded. View more information about Insights
Duplicates of Insight reports are not eligible for a reward.
Program Overview
Butter is a grantee of Uniswap Foundation and Optimism Foundation. Grant Allocation Announcement.
The first iteration of Conditional Funding Markets will be launched on Feb 27th in partnership with Uniswap Foundation and Optimism Foundation. Both will allocate funding through the mechanism. Butter’s smart contracts will provide the conditional prediction markets that will instruct which project to fund. For this first version, the funding allocation decision rule will happen off-chain.
Conditional Funding Markets (CFMs), an implementation of Futarchy, are a special type of prediction market. CFMs leverage speculative markets to estimate the probability that a funding decision will produce a desired effect or metric before the funding decision is made. The resulting probability distribution of all possible allocations is subsequently used to allocate the funding.
In a vote-based system, a large token holder or influential delegate can consistently tilt funding decisions in their favour, regardless of whether the decision is in the interest of the protocol’s stakeholders and at little personal cost. In decision markets, traders are incentivized to find the outcome with the highest payoff. Betting against the market to fund a personal project using protocol resources is both expensive and, if successful, leaves the attacker holding worthless positions.
This Audit Competition is running on testnet. The following conditions apply:
- Butter team will freeze the codebase during the duration of the Audit Competition
- Concurrently Immunefi has cloned and frozen the repositories for the duration of the Audit Competition
- Duplicates are rewarded
- Bugs that aren't disclosed in the private audit report are valid for rewards.
Butter provides rewards in USDC, denominated in USD on Ethereum.
For more information about Butter, please visit https://buttery.gg
Audits
Known Issues
KYC required
The submission of KYC information is a requirement 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.