Mountain Protocol
Mountain Protocol is the issuer of the first regulated and permissionless yield-bearing stablecoin: USDM. Fully backed by US Treasuries, USDM allows stablecoin holders to continue the experience they know with stablecoins like USDT/USDC while earning rewards at or about the “risk-free” yield that the collateral is generating.
PoC required
KYC required
Rewards
Rewards by Threat Level
Mainnet assets:
Reward amount is 10% of the funds directly affected up to a maximum of:
$100,000Minimum reward to discourage security researchers from withholding a bug report:
$50,000Rewards are distributed according to the impact the vulnerability could otherwise cause based on the Impacts in Scope table further below.
Vulnerabilities are limited to 10% of economic damage, taking into account funds at risk and reputation at the team's discretion. However, each severity has a defined maximum and minimum (eg, 50k and 100k for critical).
Repeatable Attack Limitations
In cases of repeatable attacks for smart contract bugs, only the first attack will be counted, regardless of whether the smart contract is upgradable, pausable, or killable.
Restrictions on Security Researcher Eligibility
Security researchers who fall under any of the following are ineligible for a reward
- OFAC sanctioned
- Sanctioned Persons
- Politically Exposed Persons
Public Disclosure of Known Issues
Bug reports covering previously-discovered bugs acknowledged below are not eligible for any reward through the bug bounty program.
- Centralization risks (upgrade, blocklisting, reward multiplier, access control, pausing, mint, burn and other functions expected to be done centrally). Access to these functions by other than Mountain Protocol is part of the bounty program.
- Tokenomics design risks
Previous Audits
Mountain Protocol has provided these completed audit review reports for reference. Any unfixed vulnerability mentioned in these reports are not eligible for a reward.
Proof of Concept (PoC) Requirements
A PoC is required for the following severity levels:
- Smart Contract - Critical
- Smart Contract - High
- Smart Contract - Medium
- Web/App - Critical
- Web/App - High
- Web/App - Medium
All PoCs submitted must comply with the Immunefi-wide PoC Guidelines and Rules. Bug report submissions without a PoC when a PoC is required will not be provided with a reward.
Other Terms and Information
- This bug bounty program will have a hard cap of USDC 100 000. In the event that multiple bug reports are submitted that exceed this amount, the rewards will be provided on a first come first served basis.
Reward Payment Terms
Payouts are handled by the Mountain Protocol team directly and are denominated in USD. However, payments are done in USDC.
Program Overview
Mountain Protocol is the issuer of the first regulated and permissionless yield-bearing stablecoin: USDM.
Fully backed by US Treasuries, USDM allows stablecoin holders to continue the experience they know with stablecoins like USDT/USDC while earning rewards at or about the “risk-free” yield that the collateral is generating.
For more information about Mountain Protocol, please visit https://www.mountainprotocol.com/
Mountain Protocol provides rewards in USDC. For more details about the payment process, please view the Rewards by Threat Level section further below.
KYC Requirement
The provision of KYC is required to receive a reward for this bug bounty program where the following information will be required to be provided:
- Government issued ID/passport
- Proof of residency
KYC information is only required on confirmation of the validity of a bug report.
Primacy of Impact vs Primacy of Rules
Mountain Protocol adheres to the Primacy of Impact for the following severity levels:
- Smart Contract - Critical
- Smart Contract - High
- Smart Contract - Medium
- Web/App - Critical
- Web/App - High
- Web/App - Medium
If a category’s severity level is covered within the Primacy of Impact, it means that even if the impacted asset is not in-scope but is owned by the project, then it would be considered as in-scope of the bug bounty program as long as it involves an impact under that respective severity level. When submitting a report, just select the Primacy of Impact asset placeholder. If the team behind this project has multiple projects, those other projects are not covered under the Primacy of Impact of this program. Instead, check if those other projects have a bug bounty program on Immunefi.
Testnet and mock files are not covered under the Primacy of Impact.
All other severity levels not listed here are considered under the Primacy of Rules, which means that they are bound by the terms of the bug bounty program.
Immunefi Standard Badge
Mountain Protocol has satisfied the requirements for the Immunefi Standard Badge, which is given to projects that adhere to our best practices.
KYC required
The submission of KYC information is a requirement for payout processing.
Proof of Concept
Proof of concept is always required for all severities.
Responsible Publication
Category 3: Approval 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.