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Angle Protocol

Angle is a decentralized, capital efficient and over-collateralized stablecoin protocol composed of smart contracts running on open blockchains.

Maximum Bounty
Live Since
04 November 2021
Last Updated
21 May 2024
  • PoC required

Submit a Bug

Rewards by Threat Level

Smart Contract
Up to USD $500,000
USD $20,000
USD $2,500

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 Critical Smart Contract bug reports require a PoC and a suggestion for a fix to be eligible for a reward. All High and Medium Smart Contract bug reports require a PoC to be eligible for a reward.

Vulnerabilities marked as “Acknowledged”, “ Accepted Risk” or “Closed” in the ChainSecurity security review from July 2021, the Sigma Prime security review from July 21, the ChainSecurity security review from December 2021, the ChainSecurity security review from April 22, the Code4rena security review from June 2023 are not eligible for a reward.

Critical-level smart contract vulnerabilities that result in the loss of user funds will have rewards additionally capped at 10% of the funds potentially affected based on the vulnerability that was identified. These rewards are payable in USDC or in ANGLE at the discretion of the team. ANGLE rewards will have a vesting schedule lasting between 6-12 months with a minimum of 6 months for rewards up to USD 200 000, with an additional month added for every USD 50 000 tranche, rounded up. However, there is a minimum of USD 50 000 for Critical bug reports.

Payouts are handled by the Angle Protocol team directly and are denominated in USD. However, payouts are done in ANGLE or USDC, with the choice of the ratio at the discretion of the team.

Program Overview

Angle is a decentralized, capital efficient and over-collateralized stablecoin protocol composed of smart contracts running on open blockchains.

It can be used to issue stablecoins, called agTokens, designed to mirror the value of an asset they are pegged to.

The protocol consists of several different modules, or sets of smart contracts, from which stablecoins can be issued or minted. While Angle launched its first stablecoin agEUR with a single minting module (the Core module - that was wound down in May 2023), a Borrowing module allowing to borrow Angle stablecoins against deposited collateral and a price stability module called Transmuter have then been introduced.

The protocol is also engaged into Direct Deposit Modules, also called Algorithmic Market Operations (AMOs), allowing it to boostrap liquidity for agTokens in other protocols.

For more information about Angle Protocol, please visit

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

KYC not required

No KYC information is required for payout processing.

Prohibited Activities

Default 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.