24 August 2021
Live since
KYC required
Maximum bounty

Program Overview

Tokemak is a decentralized liquidity providing/market making protocol designed to create efficient, sustainable liquidity across DeFi.

Liquidity providers deposit assets into their respective ”token reactors” (e.g. AAVE, SNX, MKR, etc.). Tokemak’s native protocol token, TOKE, is used to direct liquidity for each asset into DeFi markets such as Uniswap, Sushiswap, Balancer and 0x. TOKE can be thought of as tokenized liquidity. When staking to a given asset’s token reactor, TOKE holders control not only where the liquidity gets directed, but also what market receives liquidity, pulling from Tokemak’s reserves of ETH and Stablecoins.

For more information about Tokemak, please visit https://www.tokemak.xyz/ and https://medium.com/tokemak

This bug bounty program is focused on their smart contracts, website, and application, and is focused on preventing the following impacts:

  • Thefts and freezing of principal of any amount
  • Thefts and freezing of unclaimed yield of any amount
  • Theft of governance funds
  • Redirected funds by address modification
  • Users spoofing other users

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.

All bug reports, with the exception of Low smart contract bugs, are required to come with a PoC. A suggestion for a fix is also required for all severity levels.

Critical smart contract vulnerabilities are further capped at 10% of economic damage, primarily taking into consideration funds at risk, but also PR and marketing considerations, at the discretion of the team. However, there is a minimum reward of USD 50 000.

Payouts are handled by the Tokemak team directly and are denominated in USD. However, payouts are done in ETH, TOKE, or stablecoins, at the discretion of the team.

Smart Contracts and Blockchain

Up to USD $1,500,000
USD $20,000
USD $5,000

Web and Apps

USD $20,000

Assets in Scope

Additionally, all smart contract source codes can be found at https://etherscan.io/address/0xc803737D3E12CC4034Dde0B2457684322100Ac38#code. However, only those in the table are considered as in-scope of the bug bounty program.

All issues found in this document are considered as out-of-scope of this bug bounty program.

For further reference, the relevant GitHub can be found at https://github.com/Tokemak/tokemak-smart-contracts-public/tree/main. 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 Contracts

  • Direct theft or permanent freezing of staked funds in Tokemak contracts (Critical)
    • (this item currently excludes capital deployed into other protocols)
  • Theft of unclaimed yield (High)
  • Freezing of staked funds in Tokemak contracts for more than 10 minutes (High)
    • (excludes filling blocks so Manager contract unable to rollover cycles)
  • Freezing of unclaimed yield for a period of more than 10 minutes (High)


  • Redirected funds by address modification (Critical)
  • Users spoofing other users leading to loss of user funds (Critical)

Prioritized Vulnerabilities

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

Smart Contracts and Blockchain

  • Re-entrancy
  • Logic errors
    • including user authentication errors
  • Solidity/EVM details not considered
    • including integer over-/under-flow
    • including rounding errors
    • including unhandled exceptions
  • Trusting trust/dependency vulnerabilities
    • including composability vulnerabilities
  • Novel governance attacks
  • Economic/financial attacks
    • including flash loan attacks
  • Consensus failures
  • Cryptography problems
    • Signature malleability
    • Susceptibility to replay attacks
    • Weak randomness
    • Weak encryption
  • 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)

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

Websites and Apps

  • Theoretical vulnerabilities without any proof or demonstration
  • Content spoofing / Text injection issues
  • Self-XSS
  • Captcha bypass using OCR
  • CSRF with no security impact (logout CSRF, change language, etc.)
  • Missing HTTP Security Headers (such as X-FRAME-OPTIONS) or cookie security flags (such as “httponly”)
  • Server-side information disclosure such as IPs, server names, and most stack traces
  • Vulnerabilities used to enumerate or confirm the existence of users or tenants
  • Vulnerabilities requiring unlikely user actions
  • URL Redirects (unless combined with another vulnerability to produce a more severe vulnerability)
  • Lack of SSL/TLS best practices
  • DDoS vulnerabilities
  • Attacks requiring privileged access from within the organization
  • Feature requests
  • Best practices

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