23 August 2021
Live since
KYC required
Maximum bounty

Program Overview

Current implementations use a static IV or other, less accurate workarounds to price options. Lyra is also the first options AMM to compose with other DeFi projects to automatically price and hedge risk for LPs. The reduced risk allows LPs to feel comfortable to provide deeper liquidity, yielding more trading volume and higher fees.

For more information about Lyra, please visit https://www.lyra.finance/.

This bug bounty program is focused on their smart contracts and is focused on preventing the following impacts:

  • Thefts and freezing of principal of any amount
  • Thefts and freezing of unclaimed yield of any amount
  • Theft of governance funds
  • Governance activity disruption

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.

Re-entrancy attacks are only considered valid submissions if it is assumed that all plugged in smart contracts are the synthetix contracts

Any attack vectors that require a custom quote/base asset (Lyra’s units of account - sUSD/sETH for example) are not eligible for a reward.

Any vulnerability already disclosed in the audits that have been performed are not able to receive a reward.

Payouts are handled by the Lyra team directly and are denominated in USD. However, payouts are done in USDC or ETH, at the discretion of the team.

Smart Contracts and Blockchain

USD $50,000
USD $10,000
USD $5,000
USD $1,000

Assets in Scope

Further information about Lyra can be found at https://github.com/lyra-finance/lyra-protocol. However, only those in the assets in scope table are considered as in-scope of the bug bounty program. An exception to this are the libraries that are inherited from these contracts.

When Lyra is launched on mainnet, this table will be updated with the deployed addresses.

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 Contracts

  • Loss of user funds staked (principal) by freezing or theft
  • Loss of governance funds
  • Theft of unclaimed yield
  • Freezing of unclaimed yield
  • Temporary freezing of funds for any amount of time
  • Unable to call smart contract
  • Smart contract gas drainage
  • Smart contract fails to deliver promised returns
  • Vote manipulation
  • Incorrect polling actions
Smart Contract - BlackScholes.sol
Smart Contract - LiquidityCertificate.sol
Smart Contract - LiquidityPool.sol
Smart Contract - LyraGlobals.sol
Smart Contract - OptionGreekCache.sol
Smart Contract - OptionMarket.sol
Smart Contract - OptionMarketPricer.sol
Smart Contract - OptionToken.sol
Smart Contract - PoolHedger.sol
Smart Contract - ShortCollateral.sol
Lyra Finance: Black Scholes
Lyra Finance: Liquidity Certificate
Lyra Finance: Liquidity Pool
Lyra Finance: Lyra Globals
Lyra Finance: Option Greek Cache
Lyra Finance: Option Market
Lyra Finance: Option Market Pricer
Lyra Finance: Option Token
Lyra Finance: Pool Hedger
Lyra Finance: Short Collateral

Prioritized Vulnerabilities

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

Smart Contracts and Blockchain

  • Re-entrancy
  • Logic errors
    • including user authentication errors
  • Solidity/EVM details not considered
    • including integer over-/under-flow
    • including rounding errors
    • 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)

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