B.Protocol runs a Backstopp AMM (BAMM) as a robust liquidation engine solution for DeFi lending platforms.
B.Protocol’s BAMM is a novel DeFi primitive, providing better stability, and unlocking higher capital efficiency in the DeFi lending ecosystem. The protocol enables anyone to participate in the liquidation processes in DeFi, helping to maintain the supported platforms safe, while democratizing the process.
B.Protocol pools users’ funds into Backstop pools. This liquidity is used for liquidations as they happen on integrated platforms. While the Backstop funds are sitting idle in the pools waiting for liquidation to occur, they gain either interest rates or liquidity mining rewards, or both, generating passive revenue for the Backstoppers - users who provide liquidity to the Backstop pools. Once a liquidation takes place, the Backstop AMM (BAMM) smart contract pulls the needed funds from the backstop to facilitate the liquidation and automatically puts the seized collateral for sale. Once sold, the return is deposited back to the backstop pool, and profits are accrued.
For more information about BProtocol, please visit https://www.bprotocol.org/.
The bug bounty program covers its smart contracts and is focused on the prevention of the negative impacts stated in the Impacts in Scope section.
Rewards by Threat Level
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.2. 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.
Critical smart contract vulnerabilities are capped at 10% of economic damage, primarily taking into account the funds at risk. Other considerations such as PR and branding concerns may also be considered by the team at its discretion.
Paid auditor(s) of this code is(are) not eligible for rewards in this table. Determinations of eligibility and final reward amount (for critical vulnerabilities) and all terms related to an award are at the sole and final discretion of the B.Protocol team.
Payouts are handled by the BProtocol team directly and are denominated in USD. Payouts are done in USDC or DAI for payouts up to USD 10 000 and BPRO/stablecoin mix (90%/10%) for all other critical payouts, capped by up to 50 000 BPRO.
- Up to USD $100,000
- USD $10,000
- USD $5,000
- USD $1,000
Assets in scope
- TargetSmart Contract - BAMM.solType
- https://github.com/backstop-protocol/dev/blob/main/packages/contracts/contracts/B.Protocol/CropJoinAdapter.solTargetSmart Contract - CropJoinAdapter.solType
- https://github.com/backstop-protocol/dev/blob/main/packages/contracts/contracts/B.Protocol/PBAMM.solTargetSmart Contract - PBAMM.solType
- https://github.com/backstop-protocol/dev/blob/main/packages/contracts/contracts/B.Protocol/PriceFormula.solTargetSmart Contract - PriceFormula.solType
- TargetSmart Contract - crop.solType
The contracts in this table can be found on the following links:
However, only the smart contracts within the assets in scope table itself are considered as in-scope for the bug bounty program.
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.
- Any governance voting result manipulationCriticalImpact
- Direct theft of any user funds, whether at-rest or in-motion, other than unclaimed yieldCriticalImpact
- Permanent freezing of fundsCriticalImpact
- Miner-extractable value (MEV)CriticalImpact
- Protocol InsolvencyCriticalImpact
- Theft of unclaimed yieldHighImpact
- Permanent freezing of unclaimed yieldHighImpact
- Temporary freezing of fundsHighImpact
- Smart contract unable to operate due to lack of token fundsMediumImpact
- Block stuffing for profitMediumImpact
- Griefing (e.g. no profit motive for an attacker, but damage to the users or the protocol)MediumImpact
- Theft of gasMediumImpact
- Unbounded gas consumptionMediumImpact
- Contract fails to deliver promised returns, but doesn't lose valueLowImpact
Out of Scope & Rules
The following vulnerabilities are excluded from the rewards for this bug bounty program:
- 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
The following activities are prohibited by this 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