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1 March 2021
Yield Protocol brings collateralized fixed-rate, fixed-term borrowing and lending and interest rate markets to decentralized finance.
This solves a major pain point around today’s DeFi lending protocols: predictable interest rates. Existing DeFi protocols offer only variable interest rates. These protocols may experience interest rate volatility that can make it difficult for you to plan for the future, make investment decisions, and properly hedge risk when borrowing and lending.
Yield Protocol allows you to have a “set and forget” experience, instead of constantly rebalancing your assets across DeFi in an effort to minimize your borrow rates or maximize your lending yields. We accomplish that with a new primitive, fixed yield tokens, or fyTokens for short. fyTokens are Ethereum-based tokens (ERC20) that may be redeemed one-for-one for a target asset after a predetermined maturity date.
The bug bounty program is focused around its smart contracts and the prevention of loss of user funds.
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
Payouts are handled by Yield Protocol directly and are denominated in USD. Payouts are done in USDC or Dai.
|https://github.com/yieldprotocol/fyDai/tree/master/contracts||Smart contract - fyDai|
|https://github.com/yieldprotocol/yield-liquidator||Smart contract - Liquidator|
|https://github.com/yieldprotocol/yieldspace-v1/tree/master/contracts||Smart contract - YieldSpace AMM|
|https://github.com/yieldprotocol/fyDai-proxies||Smart contract - fyDai UX proxies|
|https://github.com/yieldprotocol/fyDai-USDCProxy||Smart contract - fyDai + USDC UX proxies|
We are especially interested in receiving and rewarding vulnerabilities of the following types:
The following vulnerabilities are excluded from the rewards for this bug bounty program:
The following activities are prohibited by bug bounty program:
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