08 March 2022
Live since
KYC required
Maximum bounty
23 November 2022
Last updated

Program Overview

TrueFi is an uncollateralized lending DeFi protocol, powered by TRU. It allows lenders to earn returns on loaned cryptocurrencies (starting with TUSD, USDC, and USDT) while having full transparency on how the loaned capital is allocated. Vetted borrowers, meanwhile, can use TrueFi for rapid access to fixed-term, fixed-rate cryptocurrency loans. TRU holders collectively assess the creditworthiness of borrowers and individual loans by staking TRU.

TrueFi was initially built by the TrustToken team, who previously developed five top fiat-backed stablecoins. TrueFi is following a path towards progressive decentralization and will ultimately put the protocol in the hands of the community.

For more information about TrueFi, please visit https://truefi.io/.

This bug bounty program is focused on their smart contracts and is focused on preventing:

  • Thefts and freezing of principal of any amount
  • Thefts and freezing of unclaimed yield of any amount
  • Theft of governance funds
  • Governance activity disruption

Rewards by Threat Level

Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.2. 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 must come with a PoC with an end-effect impacting an asset-in-scope in order to be considered for a reward. Explanations and statements are not accepted as PoC and code is required.

All known issues recorded here are considered as out-of-scope of this bug bounty program:

Rewards for critical smart contract 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 reward of USD 50 000 for Critical bug reports.

Payouts are handled by the TrueFi team directly and are denominated in USD. However, payouts are done in USDC or TRU, at the discretion of the team.

Smart Contract

Up to USD $220,000
PoC Required
USD $22,000
PoC Required

Assets in scope

All smart contracts of TrueFi can be found at https://github.com/trusttoken/contracts-ragnarok. 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

  • Any governance voting result manipulation
  • Direct theft of any user funds, whether at-rest or in-motion, other than unclaimed yield
  • Permanent freezing of funds
  • Miner-extractable value (MEV)
  • Protocol Insolvency
  • Theft of unclaimed yield
  • Permanent freezing of unclaimed yield
  • Temporary freezing of funds

These accepted impacts are then based on the severity classification system of this bug bounty program. When submitting a bug report, please select the severity level you feel best corresponds to the severity classification system as long as the impact itself is one of the listed items.

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)
  • Vulnerabilities that have been publicly disclosed before mitigation.
  • Vulnerabilities without a proof or demonstration.
  • Duplicate vulnerabilities, after the first report (by anyone).
  • Multiple vulnerabilities caused by one underlying issue.

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
  • Centralization risks

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