Flare is the blockchain for data. It is a layer-1, EVM smart contract platform designed to expand the utility of blockchain by delivering data certainty for dApp builders.
FAssets is a trustless, over-collateralized bridge built on Flare that connects non smart contract networks to Flare/Songbird. It enables the creation of wrapped tokens (FAssets) for assets like BTC, DOGE and XRP.
At the core of FAssets v1.1 is a new architecture component called the Core Vault, designed to improve system liquidity, scalability, and capital efficiency.
Status
This Audit Competition Is Over
Thank You to All Participating Security Researchers!
Your valuable contributions played a crucial role in identifying and resolving vulnerabilities, helping to strengthen and secure the platform for all users.
Immunefi vault program
Rewards
Rewards by Threat Level
Rewards are distributed among SRs according to Immunefi’s Standardized Competition Reward Terms.
Rewards are denominated in USD and distributed in USDC on Ethereum.
Flat Rewards
Mitigation Audit Rewards: The reward pool is $25,000 USD if any bug is found.
If not a single bug is found (Insights do not count as bugs) the reward pool is $3,750 USD
Program Overview
Flare is the blockchain for data. It is a layer-1, EVM smart contract platform designed to expand the utility of blockchain by delivering data certainty for dApp builders.
FAssets is a trustless, over-collateralized bridge built on Flare that connects non smart contract networks to Flare/Songbird. It enables the creation of wrapped tokens (FAssets) for assets like BTC, DOGE and XRP. The original assets are deposited to the address of an agent and can later be redeemed.
At the core of FAssets v1.1 is a new architecture component called the Core Vault, designed to improve system liquidity, scalability, and capital efficiency. It serves as a liquidity hub where Agents can deposit native assets (e.g., XRP) and unlock their FLR or SGB collateral. The minted FAssets are secured by collateral, which is in the form of ERC20 tokens on Flare/Songbird chain and native tokens (FLR on Flare, SGB on Songbird). These tokens can participate in Flare's DeFi ecosystem.
The FAsset system maintains security by ensuring every minted Fasset is backed by more value than it represents, creating a safeguard against volatility and protecting users from potential losses. Two protocols, available on Flare and Songbird blockchains, enable the FAsset system to operate:
- FTSO contracts which provide decentralised price feeds for multiple tokens.
- Flare’s Flare data connector, which bridges payment data from any connected chain. Flare provides rewards in USDC, denominated in USD. For more details about the payment process, please view the Rewards by Threat Level section further below.
For more information about Flare, please visit https://flare.network
This is the Mitigation Audit following the Flare FAssets Mainnet Audit Competition and the project may fix bugs mid-competition.
Audits
Known Issues
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.