17 June 2021
Live since
No
KYC required
$250,000
Maximum bounty

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.

Pendle exists on top of first-degree protocols and currently supports Aave and Compound, with more platforms to be integrated in the future.

There are four components that makeup Pendle’s system:

-Yield tokenization

-Pendle’s Automated Market Maker (AMM)

-Liquidity mining contracts

-Governance (Coming soon)

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.

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 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.

Smart Contract

Critical
Level
USD $50,000 - USD $250,000
Payout
High
Level
USD $10,000
Payout
Medium
Level
USD $5,000
Payout
Low
Level
USD $1,000
Payout

Assets in scope

For additional reference, these and other smart contracts of Pendle can be found on the following Github links:

https://github.com/pendle-finance/pendle-core/tree/b34d265e4fe8e3a6f79bdec1ab88ab2fd49a882c/contracts

https://github.com/pendle-finance/pendle-staking/tree/3708b93a9b93eb11ff005b6da436c914c82008f8/contracts

However, only the smart contracts in the Assets in Scope table are considered as in-scope of the bug bounty program.

Additionally, all vulnerabilities found in the audit reports are considered as out-of-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 Contract

  • Critical Smart Contract Impact
    Critical
    Impact
  • High Smart Contract Impact
    High
    Impact
  • Medium Smart Contract Impact
    Medium
    Impact
  • Low Smart Contract Impact
    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)
  • 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 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