30 June 2021
Live since
KYC required
Maximum bounty

Program Overview

NAOS Finance is building a real world asset based infrastructure for the DeFi ecosystem. NAOS Finance replicates most, if not all, of the functionality of centralized intermediaries on the Ethereum blockchain. Our goal is to create an environment that combines the operational familiarity of traditional financial institutions and the technological benefits of DeFi.

The NAOS Finance Protocol comprises of two sub-protocols:

  • Formation: the liquidity protocol that provides lending capital for real world lending
  • Galaxy: the lending protocol that connects real world assets with DeFi liquidity
  • For more information about NAOS Finance, please go to https://naos.finance/.

The bug bounty program covers its smart contracts and apps and is focused on receiving bug reports of the following impacts and attacks:

  • 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.

Critical vulnerabilities are rewarded based on economic damage, normally capped at 10% of the prospective damage, though are within the range specified in the table. The NAOS Finance team reserves the right to decide on the final reward amount to the bug bounty hunter.

Critical and High bug reports must come with a PoC as well as a suggestion on how to fix the vulnerability in order to be considered for a reward.

Payouts are handled by the NAOS Finance team directly and are denominated in USD. Payouts are done in USDT, USDC, or NAOS, at the discretion of the team at the time of rewarding.

Smart Contracts and Blockchain

USD $50,000 - USD $100,000
USD $10,000
USD $5,000
USD $1,000

Assets in Scope

For additional reference, you can find all their smart contracts listed here https://github.com/NAOS-Finance/NAOS-Formation. However, only the smart contracts listed on the table are considered in-scope.

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
  • Unable to call smart contract
  • Smart contract gas drainage
  • Smart contract fails to deliver promised returns
  • Vote manipulation
  • Incorrect polling actions

Prioritized Vulnerabilities

We are especially interested in receiving and rewarding attacks of the following types, as long as they result in the impacts in scope:

Smart Contracts and Blockchain

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