Yield Protocol

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.

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 of USD 50 000 for Critical bug reports.

Payouts are handled by the Yield Protocol founding team directly and are denominated in USD. Payouts are done in USDC or Dai.

Smart Contract

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