Ondo Finance

Submit a Bug
25 January 2022
Live since
No
KYC required
$250,000
Maximum bounty

Program Overview

Ondo Finance allows crypto-asset investors to trade the risk and reward balance of pooled assets. Existing yield in crypto-asset markets is in the form of volatile rates derived from a complex source of inputs. Ondo significantly broadens the investor base that can capitalize on these yields by establishing fixed yield positions with reduced risk and comprehensible exposure, while simultaneously providing new forms of leveraged exposure to experienced crypto-asset investors.

In this implementation, Ondo restricts investors into two groups: fixed and variable yield positions. The fixed yield position will receive a fixed percentage over its initial investment. The variable tranche will receive all excess returns after the fixed yield receives its payout.

For more information about Ondo Finance, please visit https://ondo.finance/.
This bug bounty program is focused on their smart contracts and is focused on preventing:

  • Thefts and losses of principal of any amount
  • Thefts and losses of unclaimed yield of any amount

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/app bug reports must come with a PoC with an end-effect impacting an asset-in-scope in order to be considered for a reward. Critical and High severity smart contract 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.

Ondo Finance occasionally uses feature flags in their contracts. All disabled features will be considered out-of-scope.

For the TrancheToken contract with deployment address: 0xb279d1ed3848cee8ba6dba426be620a289ccef10, only bugs that can directly affect existing users with provided proof are considered as in-scope. Bugs involving functionality that is not currently used are not in-scope.

Critical vulnerabilities are further capped at 10% of economic damage, up to $250,000, with the main consideration being the funds affected in addition to PR and brand considerations, at the discretion of the team. However, there is a minimum of USD 25 000 for Critical bug reports.

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

Smart Contract

Critical
Level
Up to USD $250,000
Payout
PoC Required
High
Level
USD $25,000
Payout
PoC Required
Medium
Level
USD $10,000
Payout
Low
Level
USD $5,000
Payout

Assets in scope

All smart contracts of Ondo Finance can be found at https://github.com/ondoprotocol/ondo-protocol. However, only those in the Assets in Scope table are considered as in-scope of the bug bounty program.

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 Contract

  • Any governance voting result manipulation
    Critical
    Impact
  • Direct theft of any user funds, whether at-rest or in-motion, other than unclaimed yield
    Critical
    Impact
  • Permanent freezing of funds
    Critical
    Impact
  • Miner-extractable value (MEV)
    Critical
    Impact
  • Protocol Insolvency
    Critical
    Impact
  • Theft of unclaimed yield
    High
    Impact
  • Permanent freezing of unclaimed yield
    High
    Impact
  • Temporary freezing of funds
    High
    Impact
  • Smart contract unable to operate due to lack of token funds
    Medium
    Impact
  • Block stuffing for profit
    Medium
    Impact
  • Griefing (e.g. no profit motive for an attacker, but damage to the users or the protocol)
    Medium
    Impact
  • Theft of gas
    Medium
    Impact
  • Unbounded gas consumption
    Medium
    Impact
  • Contract fails to deliver promised returns, but doesn't lose value
    Low
    Impact

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
  • Centralization risks

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