Alchemix
Alchemix Finance is a future-yield-backed synthetic asset platform and community DAO. The platform gives you advances on your yield farming via a synthetic token that represents a fungible claim on underlying collateral in the Alchemix protocol.
Triaged by Immunefi
PoC required
Vault program
Immunefi vault program
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, smart contracts, and blockchains/DLTs, focusing on the impact of the vulnerability reported.
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. All Medium, High and Critical Smart Contract bug reports require a PoC and a suggestion for a fix to be eligible for a reward. All Low Smart Contract bug reports require a suggestion for a fix to be eligible for a reward. Explanations and statements are not accepted as PoC and code is required.
Critical smart contract vulnerabilities are capped at 10% of economic damage, primarily taking into consideration funds at risk, but also PR and branding aspects, at the discretion of the team. In cases of repeatable attacks, only the first attack is considered unless the smart contract cannot be upgraded or paused. However, there is a minimum reward of USD 35 000 and a maximum of USD 300 000. For High vulnerability reports, the payouts will be primarily calculated as 10% of potential economic damage, primarily taking into account funds at risk but also PR and branding aspects, and bounded by the payout range for the vulnerability level.
The following vulnerabilities are not eligible for a reward:
- All vulnerabilities listed here https://github.com/code-423n4/2022-05-alchemix-findings/issues?q=is%3Aopen+is%3Aissue++-label%3A%22G+%28Gas+Optimization%29%22+-label%3A%22QA+%28Quality+Assurance%29%22 (succinct)
- All vulnerabilities listed here https://github.com/code-423n4/2022-05-alchemix-findings/issues?q=is%3Aopen+is%3Aissue+ (full)
- All vulnerabilities listed in Runtime Verification audit
Payouts are handled by the Alchemix team directly and are denominated in USD. However, payouts are done in ALCX.
Program Overview
Alchemix Finance is a future-yield-backed synthetic asset platform and community DAO. The platform gives you advances on your yield farming via a synthetic token that represents a fungible claim on underlying collateral in the Alchemix protocol.
For more information about Alchemix, please visit https://alchemix.fi/.
Primacy of Impact vs Primacy of Rules
Alchemix adheres to the Primacy of Rules. Learn more about report validity best practices here: Best Practice - Primacy of Impact vs Primacy of Rules.
KYC not required
No KYC information is required for payout processing.
Prohibited Activities
- 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
- Any other actions prohibited by the Immunefi Rules
Feasibility Limitations
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.