Inverse Finance
Inverse Finance is a decentralized autonomous organization that develops and manages the FiRM fixed rate lending protocol and DOLA, a debt-backed decentralized stablecoin. Originally founded by Nour Haridy in late 2020, the protocol is now governed by Inverse Finance DAO, a collective of crypto enthusiasts. Our code base is open source and maintained by the community.
PoC required
Vault program
Immunefi vault program
Rewards
Rewards by Threat Level
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.
For critical smart contract bugs, the reward amount is 20% of the funds directly affected up to a maximum of USD 80 000. The calculation of the amount of funds at risk is based on the time and date the bug report is submitted. However, a minimum reward of USD 20 000 is to be rewarded in order to incentivize security researchers against withholding a critical bug report.
Repeatable Attack Limitations
- If the smart contract where the vulnerability exists can be upgraded or paused, only the initial attacks within the first hour will be considered for a reward. This is because the project can mitigate the risk of further exploitation by upgrading or pausing the component where the vulnerability exists. The reward amount will depend on the severity of the impact and the funds at risk.
- For critical repeatable attacks on smart contracts that cannot be upgraded or paused, the project will consider the cumulative impact of the repeatable attacks for a reward. This is because the project cannot prevent the attacker from repeatedly exploiting the vulnerability until all funds are drained and/or other irreversible damage is done. Therefore, this warrants a reward equivalent to 10% of funds at risk, capped at the maximum critical reward.
Reward Calculation for High Level Reports
- High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are considered at the full amount of funds at risk, capped at the maximum high reward. This is to incentivize security researchers to uncover and responsibly disclose vulnerabilities that may have not have significant monetary value today, but could still be damaging to the project if it goes unaddressed.
- In the event of temporary freezing, the reward doubles from the full frozen value for every additional 24h that the funds are temporarily frozen, up until a max cap of the high reward. This is because as the duration of the freezing lenghents, the potential for greater damage and subsequent reputational harm intensifies. Thus, by increasing the reward proportionally with the frozen duration, the project ensures stronger incentives for bug disclosure of this nature.
For critical web/apps bug reports will be rewarded with 80 000 USD , only if the impact leads to:
- A loss of funds involving an attack that does not require any user action
- Unauthorized minting of INV, DOLA, or DBR tokens on-chain
- Private key or private key generation leakage leading to unauthorized access to user funds
All other impacts that would be classified as Critical would be rewarded a flat amount of 5 000 USD. The rest of the severity levels are paid out according to the Impact in Scope table.
Reward Payment Terms
Payouts are handled by the Inverse Finance team directly and are denominated in USD. However, payments are done in DOLA.
The calculation of the net amount rewarded is based on the price between at the time the bug report was submitted. No adjustments are made based on liquidity availability.
Program Overview
Inverse Finance is a decentralized autonomous organization that develops and manages the FiRM fixed rate lending protocol and DOLA, a debt-backed decentralized stablecoin. Originally founded by Nour Haridy in late 2020, the protocol is now governed by Inverse Finance DAO, a collective of crypto enthusiasts. Our code base is open source and maintained by the community.
Inverse Finance's main products are:
- FiRM, a fixed-rate lending market.
- DOLA, a stablecoin pegged to the US Dollar.
- DBR, a new DeFi primitive that enables holders to service DOLA loans on FiRM.
The INV governance token governs on-chain DAO voting and is traded on leading exchanges.
For more information about Inverse Finance, please visit https://www.inverse.finance/
Inverse Finance provides rewards in DOLA, denominated in USD. For more details about the payment process, please view the Rewards by Threat Level section below.
Primacy of Impact vs Primacy of Rules
Inverse Finance adheres to the Primacy of Impact for the following impacts:
- Smart Contract - Critical
- Smart Contract - High
- Smart Contract - Medium
- Smart Contract - Low
Primacy of Impact means that the impact is prioritized rather than a specific asset. This encourages security researchers to report on all bugs with an in-scope impact, even if the affected assets are not in scope. For more information, please see Best Practices: Primacy of Impact
When submitting a report on Immunefi’s dashboard, the security researcher should select the Primacy of Impact asset placeholder. If the team behind this project has multiple programs, those other programs are not covered under Primacy of Impact for this program. Instead, check if those other projects have a bug bounty program on Immunefi.
If the project has any testnet and/or mock files, those will not be covered under Primacy of Impact.
All other impacts are considered under the Primacy of Rules, which means that they are bound by the terms and conditions set within this program.
Proof of Concept (PoC) Requirements
A PoC, demonstrating the bug's impact, is required for this program and has to comply with the Immunefi PoC Guidelines and Rules.
Public Disclosure of Known Issues:
Bug reports covering previously-discovered bugs (listed below) are not eligible for a reward within this program. This includes known issues that the project is aware of but has consciously decided not to “fix”, necessary code changes, or any implemented operational mitigating procedures that can lessen potential risk.
[Public Disclosure Issue 1] - potential for griefing through the manipulation of the delegator parameter in the delegateBySig function (MultiDelegator, XINV, etc)
[Public Disclosure Issue 2] - subdomain misconfigurations (gitbook etc)
[Public Disclosure Issue 3] - DMARC issue related to emails
[Public Disclosure Issue 4] - Note for whitehats on Escrow contract implementations: Submissions related to a missing initialization on the implementation contract are not valid because the contract is cloned and correctly initialized per user at the first deposit. The contracts deployed are proxy reference implementations, all proxies are properly initialized on creation.
Previous Audits
Inverse Finance’s completed audit reports can be found at https://www.inverse.finance/audits. Any unfixed vulnerabilities mentioned in these reports are not eligible for a reward.
Immunefi Standard Badge
By adhering to Immunefi’s best practice recommendations, Inverse Finance has satisfied the requirements for the Immunefi Standard Badge.
KYC not required
No KYC information is required for payout processing.
Proof of Concept
Proof of concept is always required for all severities.
Responsible Publication
Category 2: Notice Required
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.