Pendle
Pendle is the first protocol that enables the trading of tokenized future yield on an AMM system. The project aims to give holders of yield-generating assets the opportunity to generate additional yield and to lock in future yield upfront, while offering traders direct exposure to future yield streams, without the need for an underlying collateral.
PoC required
Rewards
Rewards by Threat Level
Mainnet assets:
Reward amount is 10% of the funds directly affected up to a maximum of:
$250,000Minimum reward to discourage security researchers from withholding a bug report:
$50,000Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.2. 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 smart contracts bug reports must come with a reproducible simulation PoC using either Hardhat or Foundry to be considered for a reward. Explanations and statements are not accepted as PoC and code is required. However, in case no PoC can be created yet there are strong reasons to believe an exploit can take place, the team will still consider the submission.
Critical vulnerabilities are capped at 10% of economic damage, with the funds at risk being the primary determinant with considerations for PR impact and other factors such as exploitability, with a minimum base reward of USD 50 000.
Payouts are handled by the Pendle team directly and are denominated in USD. However, payouts are done in USDT or USDC for payouts under USD 25 000. For payouts above that amount, the reward will have 80% paid in PENDLE with 20% in USDT or USDC.
Program Overview
Pendle is the first protocol that enables the trading of tokenized future yield on an AMM system. The project aims to give holders of yield-generating assets the opportunity to generate additional yield and to lock in future yield upfront, while offering traders direct exposure to future yield streams, without the need for an underlying collateral.
Further resources regarding the Pendle can be found on their website, https://pendle.finance/.
The bug bounty program is focused around its smart contracts and is mostly concerned with the loss of user funds.
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.