19 August 2021
Live since
No
KYC required
$500,000
Maximum bounty

Program Overview

BENQI Liquidity Market

BENQI Liquidity Market is a decentralized non-custodial liquidity market protocol, built on Avalanche. The protocol enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol may earn passive income, while borrowers are able to borrow in an over-collateralized manner.

BENQI aims to alleviate common DeFi problems by providing a Liquidity Market Protocol on a highly scalable and decentralized platform. With a focus on approachability, ease of use, and low fees, BENQI will democratize access to decentralized financial products by providing permissionless lending and borrowing where users can:

  • Instantly supply to and withdraw liquidity from a shared liquidity market
  • Instantly borrow from a liquidity market using their supplied assets as collateral
  • Have a live and transparent view of interest rates around the clock based on the asset's market supply and demand

BENQI Liquid Staking

BENQI Liquid Staking (BLS) is a liquid staking protocol built on Avalanche. It tokenizes staked AVAX and allows users to freely use it within Decentralized Finance dApps such as Automated Market Makers (AMMs), Lending & Borrowing Protocols, Yield Aggregators, etc.

BLS allows users to stake AVAX on the Avalanche C-Chain without needing to stake on the Avalanche P-Chain. This allows users to earn validating rewards from the P-Chain without running a full node or locking up AVAX on a validating node.

For more information about BENQI, please visit https://docs.benqi.fi/.

The bug bounty program is focused around its smart contracts and the prevention of loss of user funds, thefts and freezing of principal of any amount, thefts and freezing of unclaimed yield of any amount, theft of governance funds, denial of service, DNS hijack attacks, and social media administrative control breaches.

Rewards by Threat Level

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.

The final reward amount for critical smart contract and blockchain vulnerabilities is capped at 10% of the economic damage funds at risk based on the vulnerability reported with a payout floor of USD 50 000.

All web and app bug reports must come with a Proof of Concept (PoC) showing impact. Reports without a PoC will be automatically rejected.

Payouts are handled by the BENQI team directly and are denominated in USD. Payouts are done in USDC or USDT for Low, Medium, and High level bug reports. For payouts USD 50 000 and above, up to 80% of the payout may be done in $Qi.

Smart Contract

Critical
Level
Up to USD $500,000
Payout
High
Level
Up to USD $20,000
Payout
Medium
Level
USD $5,000
Payout
Low
Level
USD $1,000
Payout

Websites and Applications

Critical
Level
USD $10,000
Payout
PoC Required
High
Level
USD $5,000
Payout
PoC Required
Medium
Level
USD $2,500
Payout
PoC Required
Low
Level
USD $500
Payout
PoC Required

Assets in scope

Impacts in scope

Only the following impacts are accepted within this bug bounty program. All other impacts are not considered as in-scope, even if they affect something in the assets in scope table.

Smart Contract

  • Any governance voting result manipulation
    Critical
    Impact
  • Direct theft of any user funds, whether at-rest or in-motion, other than unclaimed yield
    Critical
    Impact
  • Permanent freezing of funds
    Critical
    Impact
  • Significant Protocol Insolvency
    Critical
    Impact
  • Theft of unclaimed yield
    High
    Impact
  • Permanent freezing of unclaimed yield
    High
    Impact
  • Temporary freezing of funds
    High
    Impact
  • Smart contract unable to operate due to lack of token funds
    Medium
    Impact
  • Block stuffing for profit
    Medium
    Impact
  • Griefing (e.g. no profit motive for an attacker, but damage to the users or the protocol)
    Medium
    Impact
  • Theft of gas
    Medium
    Impact
  • Unbounded gas consumption
    Medium
    Impact
  • Contract fails to deliver promised returns, but doesn't lose value
    Low
    Impact

Websites and Applications

  • Execute arbitrary system commands
    Critical
    Impact
  • Retrieve sensitive data/files from a running server such as /etc/shadow, database passwords, and blockchain keys(this does not include non-sensitive environment variables, open source code, or usernames)
    Critical
    Impact
  • Taking down the application/website
    Critical
    Impact
  • Taking state-modifying authenticated actions (with or without blockchain state interaction) on behalf of other users without any interaction by that user, such as, changing registration information, commenting, voting, making trades, withdrawals, etc.
    Critical
    Impact
  • Subdomain takeover with already-connected wallet interaction
    Critical
    Impact
  • Direct theft of user funds
    Critical
    Impact
  • Malicious interactions with an already-connected wallet such as modifying transaction arguments or parameters, substituting contract addresses, submitting malicious transactions
    Critical
    Impact
  • Injecting/modifying the static content on the target application without Javascript (Persistent) such as HTML injection without Javascript, replacing existing text with arbitrary text, arbitrary file uploads, etc.
    High
    Impact
  • Changing sensitive details of other users (including modifying browser local storage) without already-connected wallet interaction and with up to one click of user interaction, such as email or password of the victim, etc.
    High
    Impact
  • Improperly disclosing confidential user information such as email address, phone number, physical address, etc.
    High
    Impact
  • Subdomain takeover without already-connected wallet interaction
    High
    Impact
  • Changing non-sensitive details of other users (including modifying browser local storage) without already-connected wallet interaction and with up to one click of user interaction, such as changing the first/last name of user, or en/disabling notification
    Medium
    Impact
  • Injecting/modifying the static content on the target application without Javascript (Reflected) such as reflected HTML injection or loading external site data
    Medium
    Impact
  • Redirecting users to malicious websites (Open Redirect)
    Medium
    Impact
  • Changing details of other users (including modifying browser local storage) without already-connected wallet interaction and with significant user interaction such as iframing leading to modifying the backend/browser state (
    Low
    Impact
  • Any impact involving a publicly released CVE without a working PoC
    Low
    Impact
  • Taking over broken or expired outgoing links such as social media handles, etc.
    Low
    Impact
  • Temporarily disabling user to access target site, such as locking up the victim from login, cookie bombing, etc.
    Low
    Impact

Out of Scope & Rules

The following vulnerabilities are excluded from the rewards for this bug bounty program:

All Programs

  • Attacks that the reporter has already exploited themselves, leading to damage
  • Attacks requiring access to leaked keys/credentials
  • Attacks requiring access to privileged addresses (governance, strategist)

Smart Contracts and Blockchain

  • Incorrect data supplied by third party oracles
    • Not to exclude oracle manipulation/flash loan attacks
  • Basic economic governance attacks (e.g. 51% attack)
  • Lack of liquidity
  • Best practice critiques
  • Sybil attacks
  • ERC-777 re-entrancy
  • Reward distribution bugs affecting early borrowers in markets with zero distribution rewards
  • Reward distribution bugs resulting from temporarily disabling distribution rewards

Website and Apps

  • Theoretical vulnerabilities without any proof or demonstration
  • Content spoofing / Text injection issues
  • Self-XSS
  • Captcha bypass using OCR
  • CSRF with no security impact (logout CSRF, change language, etc.)
  • Missing HTTP Security Headers (such as X-FRAME-OPTIONS) or cookie security flags (such as “httponly”)
  • Server-side information disclosure such as IPs, server names, and most stack traces
  • Vulnerabilities used to enumerate or confirm the existence of users or tenants
  • Vulnerabilities requiring unlikely user actions
  • URL Redirects (unless combined with another vulnerability to produce a more severe vulnerability)
  • Lack of SSL/TLS best practices
  • DDoS vulnerabilities
  • Attacks requiring privileged access from within the organization
  • Requests for new features

The following activities are prohibited by bug bounty program:

  • Any testing with mainnet or public testnet contracts; all testing should be done on private testnets
  • 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
  • Automated testing of services that generates significant amounts of traffic
  • Public disclosure of an unpatched vulnerability in an embargoed bounty