10 March 2021
Live since
No
KYC required
$50,000
Maximum bounty

Program Overview

Hegic is an on-chain peer-to-pool options trading protocol built on Ethereum. Hegic allows users to buy WBTC or ETH call and put options with any strike price and flexible holding periods by utilizing Hegic’s liquidity pools. Users can provide liquidity to Hegic to start simultaneously selling options to thousands of buyers, earning their share of premiums paid to the pool. Hegic options can always be exercised at any moment during the period of holding a contract due to the liquidity locked inside the option contract itself.

HEGIC holders are able to acquire staking lots. Also, in the future, it will be the way to delegate governance of the Hegic Protocol to the community of token holders.

The bug bounty program is focused around its smart contracts and the prevention of loss of user funds.

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.

Payouts are handled by the Hegic team directly and are denominated in USD. Payouts are done in USDC. However, for critical bug reports, 50% of the payout will be done in HEGIC.

Smart Contracts and Blockchain

Critical
Level
USD $20,000 - USD $50,000
Payout
high
Level
USD $10,000 - USD $15,000
Payout
medium
Level
USD $3,000 - USD $5,000
Payout
low
Level
up to USD $1,000
Payout
none
Level
USD $0
Payout

Assets in Scope

Smart contract
Type

Prioritized Vulnerabilities

We are especially interested in receiving and rewarding vulnerabilities of the following types:

Smart Contracts/Blockchain:

  • Re-entrancy
  • Logic errors
    • including user authentication errors
  • Solidity/EVM details not considered
    • including integer over-/under-flow
    • including unhandled exceptions
  • Trusting trust/dependency vulnerabilities
    • including composability vulnerabilities
  • Oracle failure/manipulation
  • Novel governance attacks
  • Economic/financial attacks
    • including flash loan attacks
  • Congestion and scalability
    • including running out of gas
    • including block stuffing
    • including susceptibility to frontrunning
  • Consensus failures
  • Cryptography problems
    • Signature malleability
    • Susceptibility to replay attacks
    • Weak randomness
    • Weak encryption
  • Susceptibility to block timestamp manipulation
  • Missing access controls / unprotected internal or debugging interfaces

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)
  • 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 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