Reflexer

Submit a Bug
02 November 2021
Live since
No
KYC required
$750,000
Maximum bounty

Program Overview

Reflexer is a platform where anyone can use their crypto collateral to mint stablecoins. Stablecoins, as opposed to fiat coins, are not pegged to anything, very similar to how the US Dollar is not pegged and it is still considered stable.

RAI is an ETH backed stablecoin with a managed float regime. The RAI/USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de or revaluing it. For more information about Reflexer, please visit https://reflexer.finance.
This bug bounty program is focused on their smart contracts and is focused on preventing:

  • Loss of user funds staked (principal) by freezing or theft
  • Incorrect accounting logic in the core protocol
  • Theft of unclaimed yield
  • Unable to shut down the protocol in the global settlement process
  • Freezing of unclaimed yield
  • Temporary freezing of funds
  • Unable to call smart contract
  • Smart contract fails to deliver promised returns

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, High and Medium severity bug reports must come with a PoC and a suggestion for a fix in order to be considered for a reward.

Critical vulnerabilities are further capped at 10% of economic damage, 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 50 000 for Critical bug reports.

Known issues from their previous audits are considered out-of-scope:

https://github.com/reflexer-labs/geb-audits/blob/master/open-zeppelin/core-contracts/oz-geb-protocol-audit.pdf

https://github.com/reflexer-labs/geb-audits/tree/master/quantstamp/helper-contracts/first-audit

https://github.com/reflexer-labs/geb-audits/blob/master/quantstamp/helper-contracts/second-audit/Reflexer%20Second%20Engagement%20-%20Final%20Report.pdf

https://github.com/reflexer-labs/geb-audits/blob/master/quantstamp/staking/Reflexer%20Staking%20and%20Auction%20House%20-%20Report.pdf

https://github.com/reflexer-labs/geb-audits/blob/master/solidified/helper-contracts/Solidified%20Audit%20Report%20-%20Reflexer%20%5B26.01.2021%5D.pdf

Additionally, there is a known bug in the contract below where, if it does not have tokens anymore, it cannot compute a 0 reward. This does not affect the rest of the functionality of the system and would also be considered out-of-scope.

https://github.com/reflexer-labs/geb-lender-first-resort/blob/master/src/AutoRewardDripper.sol

Payouts are handled by the Reflexer team directly and are denominated in USD. However, payouts are done in FLX, RAI or a combination of both at the discretion of the team.

Smart Contract

Critical
Level
Up to USD $750,000
Payout
PoC Required
High
Level
USD $50,000
Payout
PoC Required
Medium
Level
USD $15,000
Payout
PoC Required
Low
Level
USD $2,500
Payout

Assets in scope

All smart contracts of Reflexer can be found at https://github.com/reflexer-labs. 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

  • Loss of user funds staked (principal) by freezing or theft
    Critical
    Impact
  • Theft of unclaimed yield
    High
    Impact
  • Freezing of unclaimed yield
    High
    Impact
  • Temporary freezing of funds for at least 24 hours
    High
    Impact
  • Unable to call smart contracts
    Medium
    Impact
  • Smart contract fails to deliver promised returns
    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

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