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Spool provides rewards in USDC, denominated in USD. For more details about the payment process, please view the Rewards by Threat Level section further below.
Spool will be requesting KYC information in order to pay for successful bug submissions. The following information will be required:
- Full name
- Date of birth
- Proof of address (either a redacted bank statement with address or a recent utility bill)
- Copy of Passport or other Government issued ID
Security researchers who wish to participate must adhere to the rules of engagement set forth in this program and cannot be:
- On OFACs SDN list
- Official contributor, both past or present
- Employees and/or individuals closely associated with the project
- Security auditors that directly or indirectly participated in the audit review
Spool adheres to category 3 - Approval Required. This Policy determines what information researchers are allowed to make public from their submitted bug reports. For more information about the category selected, please refer to our Responsible Publication page.
Primacy of Impact vs Primacy of Rules
Spool adheres to the Primacy of Impact for the following impacts:
- Smart Contracts: Critical
- Smart Contracts: High
- Smart Contracts: Medium
- Smart Contracts: Low
Primacy of Impact means that the impact is prioritized rather than a specific asset. This encourages security researchers to report on all bugs with an in-scope impact, even if the affected assets are not in scope. For more information, please see Best Practices: Primacy of Impact
When submitting a report on Immunefi’s dashboard, the security researcher should select the Primacy of Impact asset placeholder. If the team behind this project has multiple programs, those other programs are not covered under Primacy of Impact for this program. Instead, check if those other projects have a bug bounty program on Immunefi.
If the project has any testnet and/or mock files, those will not be covered under Primacy of Impact.
All other impacts are considered under the Primacy of Rules, which means that they are bound by the terms and conditions set within this program.
Proof of Concept (PoC) Requirements
A PoC, demonstrating the bug's impact, is required for this program and has to comply with the Immunefi PoC Guidelines and Rules.
Known Issue Assurance
Spool commits to providing Known Issue Assurance to bug submissions through their program. This means that Spool will either disclose known issues publicly, or at the very least, privately via a self-reported bug submission.
In a potential scenario of a mediation, this allows for a more objective and streamlined process, in order to prove that an issue is known. Otherwise, assuming the bug report is valid, it would result in the report being considered as in-scope, and due a reward.
Spool’s completed audit reports can be found at the following links:
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.
Immunefi Standard Badge
By adhering to Immunefi’s best practice recommendations, Spool has satisfied the requirements for the Immunefi Standard Badge.
Rewards by Threat Level
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.
Reward Calculation for Critical Level Reports
For critical smart contract bugs, the reward amount is 10% of the funds directly affected up to a maximum of USD 1 500 000. The calculation of the amount of funds at risk is based on the time and date the bug report is submitted. However, a minimum reward of USD 50 000 is to be rewarded in order to incentivize security researchers against withholding a critical bug report.
Repeatable Attack Limitations
If the smart contract where the vulnerability exists can be upgraded or paused, only the initial attacks within the first hour will be considered for a reward. This is because the project can mitigate the risk of further exploitation by upgrading or pausing the component where the vulnerability exists. The reward amount will depend on the severity of the impact and the funds at risk.
For critical repeatable attacks on smart contracts that cannot be upgraded or paused, the project will consider the cumulative impact of the repeatable attacks for a reward. This is because the project cannot prevent the attacker from repeatedly exploiting the vulnerability until all funds are drained and/or other irreversible damage is done. Therefore, this warrants a reward equivalent to 10% of funds at risk, capped at the maximum critical reward.
Reward Calculation for High Level Reports
High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are considered at the full amount of funds at risk, capped at the maximum high reward. This is to incentivize security researchers to uncover and responsibly disclose vulnerabilities that may have not have significant monetary value today, but could still be damaging to the project if it goes unaddressed.
In the event of temporary freezing, the reward doubles from the full frozen value for every additional 24h that the funds are temporarily frozen, up until a max cap of the high reward. This is because as the duration of the freezing lenghents, the potential for greater damage and subsequent reputational harm intensifies. Thus, by increasing the reward proportionally with the frozen duration, the project ensures stronger incentives for bug disclosure of this nature.
Reward Payment Terms
Payouts are handled by the Spool team directly and are denominated in USD. However, payments are done in USDC.
The calculation of the net amount rewarded is based on the average price between CoinMarketCap.com and CoinGecko.com at the time the bug report was submitted. No adjustments are made based on liquidity availability.
- USD $50,000 - $1,500,000
- USD $5,000 - $50,000
- USD $5,000
- USD $1,000
Assets in scope
- Smart Contract - ActionManagerType
- Smart Contract - AllowlistGuardType
- Smart Contract - AssetGroupRegistryType
- Smart Contract - DepositManagerType
- Smart Contract - DepositSwapType
- Smart Contract - ExponentialAllocationProviderType
- Smart Contract - GhostStrategyType
- Smart Contract - GuardManagerType
- Smart Contract - LinearAllocationProviderType
- Smart Contract - MasterWalletType
- Smart Contract - ProxyAdminType
- Smart Contract - RewardManagerType
- Smart Contract - RiskManagerType
- Smart Contract - SmartVaultFactoryType
- Smart Contract - SmartVaultManagerType
- Smart Contract - SpoolAccessControlType
- Smart Contract - StrategyRegistryType
- Smart Contract - SwapperType
- Smart Contract - UniformAllocationProviderType
- Smart Contract - UsdPriceFeedManagerType
- Smart Contract - WithdrawalManagerType
- Smart Contract - Aave DAIType
- Smart Contract - Aave USDCType
- Smart Contract - Aave USDTType
- Smart Contract - Compound DAIType
- Smart Contract - Compound USDCType
- Smart Contract - Compound USDTType
- Smart Contract - Convex (3pool)Type
- Smart Contract - Convex (AlUSD)Type
- Smart Contract - Curve (3pool)Type
- Smart Contract - Morpho (Aave) DAIType
- Smart Contract - Morpho (Aave) USDCType
- Smart Contract - Morpho (Aave) USDTType
- Smart Contract - Morpho (Compound) DAIType
- Smart Contract - Morpho (Compound) USDCType
- Smart Contract - Morpho (Compound) USDTType
- Smart Contract - Notional DAIType
- Smart Contract - Notional USDCType
- Smart Contract - Rocketpool ETHType
- Smart Contract - Frax Staked ETHType
- Smart Contract - Lido Staked ETHType
- Smart Contract - Yearn DAIType
- Smart Contract - Yearn USDCType
- Smart Contract - Yearn USDTType
- Primacy Of ImpactTargetSmart ContractType
- Smart Contract - SPOOL TokenType
- Smart Contract - SPOOL StakingType
- Smart Contract - voSPOOL RewardsType
- Smart Contract - voSPOOL TokenType
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.
- Direct theft of any user funds, whether at-rest or in-motion, other than unclaimed yieldCriticalImpact
- Permanent freezing of fundsCriticalImpact
- Protocol insolvencyCriticalImpact
- Theft of unclaimed yieldHighImpact
- Permanent freezing of unclaimed yieldHighImpact
- Temporary freezing of funds for more than 24 hoursHighImpact
- Griefing (e.g. no profit motive for an attacker, but damage to the users or the protocol)MediumImpact
- Unbounded gas consumptionMediumImpact
- Contract fails to deliver promised returns, but doesn't lose valueLowImpact
Out of Scope & Rules
These impacts are out of scope for this bug bounty program.
- Impacts requiring attacks that the reporter has already exploited themselves, leading to damage
- Impacts caused by attacks requiring access to leaked keys/credentials
- Impacts caused by attacks requiring access to privileged addresses (governance, strategist) except in such cases where the contracts are intended to have no privileged access to functions that make the attack possible
- Impacts relying on attacks involving the depegging of an external stablecoin where the attacker does not directly cause the depegging due to a bug in code
- Mentions of secrets, access tokens, API keys, private keys, etc. in Github will be considered out of scope without proof that they are in-use in production
- Best practice recommendations
- Feature requests
- Impacts on test files and configuration files unless stated otherwise in the bug bounty program
Blockchain/DLT & Smart Contract Specific:
- Incorrect data supplied by third party oracles
- Not to exclude oracle manipulation/flash loan attacks
- Impacts requiring basic economic and governance attacks (e.g. 51% attack)
- Lack of liquidity impacts
- Impacts from Sybil attacks
- Impacts involving centralization risks
- 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