Ruler Protocol

Program Overview

Ruler Protocol is a lending platform where users can borrow their preferred cryptocurrency with any other cryptocurrency as collateral.

It aims to fill the gap by enabling the following:

• No liquidations as long as borrowers pay back on time
• Interest rates determined by supply and demand
• Fixed rate loans at the moment of borrow / lend
• Fungible loans, tradable anytime & anywhere

With Ruler, as long as you follow the rules, you will never have to worry about health factors or having your position liquidated.

Ruler pairs are at the core of Ruler Protocol. Each pair consists of the following elements:

• Collateral token (ex. wBTC)
• Paired token, the token users have to payback (ex. Dai)
• Expiry, the time users have to pay back (ex. 12/31/2021)
• Mint ratio, the ratio of collateral to paired token. (ex. 10,000 mint ratio @ $30,000 collateral price = 300% collateralization ratio)

Each Ruler pair issues two fungible tokens (rTokens). rTokens are minted for each staking event by a borrower. The Ruler capital token (rcToken) represents the right to collect the payments of the loan after expiry. The Ruler repayment token (rrToken) represents the obligation to pay back the loan and receive the collateral before expiry. If borrowers don’t payback on time, the loan is considered defaulted, and collaterals are forfeited by the borrowers.

The bug bounty program is focused around its smart contracts and the prevention of 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.

Smart Contracts and Blockchain

Level
Critical	Up to USD $1,000,000*
High	USD $5,000
Medium	USD $500
Low	USD $250

Payouts are handled by the Ruler team directly and are denominated in USD. Payouts are done in RULER.

*The final reward amount is capped at 10% of the funds at risk based on the vulnerability reported.

Assets in Scope

Target	Type
https://github.com/Ruler-Protocol/ruler-core-public	Smart Contract
https://etherscan.io/address/0x2aECCB42482cc64E087b6D2e5Da39f5A7A7001f8#code	Smart Contract - RULER Token
https://etherscan.io/address/0xF19f4490A7fCCfEf2DaB8199ACDB2Dc1B9027C18#code	Smart Contract - Ruler Core
https://etherscan.io/address/0x3423c8Af3a95D9FEE7Ec06c4e0E905D4fd559F89#code	Smart Contract - Ruler Mining
https://etherscan.io/address/0x1447Db893bC4f6767460AD72359deAd840339c6a#code	Smart Contract - Ruler Oracle
https://etherscan.io/address/0xBd856654bA2B6DC12C55A7Bff9730eD5b056b1b1#code	Smart Contract - Ruler Zap

Prioritized Vulnerabilities

We are especially interested in receiving and rewarding vulnerabilities of the following types:

Smart Contracts/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)
• 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