Mars Ecosystem
The fundamental issue within most current stablecoin protocols is positive externality. The cost of producing and maintaining stablecoins are incurred by the protocol and its users (minters, share holders, bond holders). Whereas the majority of the value comes from the transaction The fundamental issue within most current stablecoin protocols is positive externality.
PoC required
Rewards
Rewards by Threat Level
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System 3.2. 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.
All bug reports must come with a PoC with an end-effect impacting an asset-in-scope in order to be considered for a reward. Explanations and statements are not accepted as PoC and code is required.
Bugs reported in the following audits are not eligible for a reward:
Payouts are handled by the Mars Ecosystem team directly and are denominated in USD. However, payouts are done in XMS or BUSD, at the discretion of the team.
Program Overview
The fundamental issue within most current stablecoin protocols is positive externality. The cost of producing and maintaining stablecoins are incurred by the protocol and its users (minters, share holders, bond holders). Whereas the majority of the value comes from the transaction The fundamental issue within most current stablecoin protocols is positive externality. The cost of stablecoins within DeFi primitives and is captured by these DeFi primitives.
Mars Ecosystem solves this problem by integrating the creation and the use of stablecoin into one stable yet decentralized ecosystem. The relationship between Mars Stablecoin and Mars DeFi platform creates a positive feedback loop and generates a flywheel effect.
Mars Stablecoin (USDm) is price stable, capital efficient, scalable and decentralized. It is an over-backed stablecoin: the redeemability of USDm is backed by the Mars Ecosystem Governance Token (XMS). The market cap of XMS is always multiple times the market cap of Mars Stablecoin which ensures that the stablecoin can be redeemed 1:1 at any given time.
Mars Swap provides liquidity between Mars Stablecoin and all the other tokens, making USDM the ideal medium of exchange and store of value for DeFi. The incurred transaction fees generated at Mars Swap are used to back the stability of Mars Stablecoin.
For more information about Mars Ecosystem, please visit https://marsecosystem.com/.
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.