09 June 2021
Live since
KYC required
Maximum bounty

Program Overview

MCDEX is a decentralized exchange (DEX) that aims to offer perpetual swaps trading. A perpetual swap contract is a financial contract without an expiration date whose trading price is anchored to the underlying asset price index through a funding mechanism.

Perpetual contracts are based on margin, which allows leverage. The MCDEX Perpetual contract provides up to 10x leverage, by using a funding mechanism that keeps prices anchored to an index. Unlike traditional perpetual contracts, the MCDEX perpetual contract is decentralized which provides opportunities to build new kinds of decentralized financial products and services.

MCDEX relies on an automated market maker (AMM) to provide liquidity and calculate the funding rate. Both long and short traders can acquire positions by trading against the AMM. The pricing formula of MCDEX’s AMM provides a continuous depth for market-making and adjusts the price according to market demand. To supplement this, MCDEX also offers an off-chain order book because of its superior liquidity.

For more information about MCDEX, you can visit their website at https://mcdex.io/.

This bug bounty program covers its smart contracts and its critical frontend software and is focused on 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.

All web and app bugs must come with a Proof of Concept (PoC) in order to be accepted. All web and app bug reports without a PoC will be rejected with a request for a PoC. Critical web and app bugs can only be paid the full USD 15 000 if there is a vulnerability directly leading to a loss in user funds that don’t require social engineering or extensive non-normal user actions.

Rewards for smart contract vulnerabilities are variable based on their exploitability, and other factors deemed relevant by the MCDEX team. For critical vulnerabilities, the payout is capped at 10% of economic damage and is the main determinant of the reward amount. Bug reports for critical vulnerabilities also require PoC. If no PoC is submitted but the bug is still validated and addressed, only USD 50 000 will be rewarded regardless of economic damage.

Recommendations for fixes are required for a reward. Though bug reports without recommendations for fixes may be considered, the resulting reward cannot be the maximum amount.

The final decision for all rewards are at the discretion of MCDEX.

Payouts are handled by the MCDEX team directly and are denominated in USD. Payouts are done in USDC. However, for payouts USD 1 000 and lower, the reward can be paid in ETH.

Smart Contracts and Blockchain

USD $50,000 - USD $100,000
USD $5,000 - USD $20,000
USD $2,000 - USD $5,000
Up to USD $2,000

Web and Apps

USD $7,500 - USD $15 000
Up to USD $5,000
Up to USD $1,000

Assets in Scope

Only web/app vulnerabilities that directly affect the web/app assets listed in this table and their subfolders are accepted within the bug bounty program. All others are out-of-scope.

Under the Github link, only mainnet smart contract vulnerabilities are considered in-scope for the bug bounty program. Smart contracts labeled as testnet are out-of-scope. Additionally, all smart contracts in the test, oracle, and reader folders are out-of-scope.

Vulnerabilities surfaced in the audits provided by ConsenSys, OpenZeppelin and Quantstamp are not considered in scope of the bug bounty program even if they affect the assets listed in this table.

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

Websites and Apps

  • Remote Code Execution
  • Trusting trust/dependency vulnerabilities
  • Vertical Privilege Escalation
  • XML External Entities Injection
  • SQL Injection
  • Horizontal Privilege Escalation
  • Stored XSS
  • Reflective XSS with impact
  • CSRF with impact
  • Direct object reference
  • Internal SSRF
  • Session fixation
  • Insecure Deserialization
  • SSL misconfigurations
  • SSL/TLS issues (weak crypto, improper setup)
  • URL redirect
  • Clickjacking (must be accompanied with PoC)
  • Misleading Unicode text (e.g. using right to left override characters)

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

Websites and Apps

  • Theoretical vulnerabilities without any proof or demonstration
  • Content spoofing / Text injection issues
  • Self-XSS
  • Captcha bypass using OCR
  • CSRF with no security impact (logout CSRF, change language, etc.)
  • Missing HTTP Security Headers (such as X-FRAME-OPTIONS) or cookie security flags (such as “httponly”)
  • Server-side information disclosure such as IPs, server names, and most stack traces
  • Vulnerabilities used to enumerate or confirm the existence of users or tenants
  • Vulnerabilities requiring unlikely user actions
  • URL Redirects (unless combined with another vulnerability to produce a more severe vulnerability)
  • Lack of SSL/TLS best practices
  • DDoS vulnerabilities
  • Attacks requiring privileged access from within the organization
  • Feature requests
  • Best practices

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