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Arbor Finance

Arbor allows DAOs and other on-chain entities to borrow stablecoins using their tokens as collateral with fixed rates and no liquidations.

Maximum Bounty
Live Since
02 December 2022
Last Updated
16 February 2023
  • PoC required

Submit a Bug

Rewards by Threat Level

Smart Contract
USD $50,000
USD $25,000

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 High and Critical Smart Contract bug reports require a PoC with an end-effect impacting an asset-in-scope and a suggestion for a fix in order to be considered for a reward. Explanations and statements are not accepted as PoC and code is required.

The following vulnerabilities are not eligible for a reward:

  • Any issues related to malicious or exploitable tokens being added to the allow-list. It is assumed that all tokens will strictly adhere to the OpenZeppelin ERC20 implementation
  • Intended protocol behavior (borrowers have the ability to default)
  • Best practice critiques
  • Using flash loan to pay and retrieve collateral without monetary impact
  • Different payment/collateral amounts given past maturity within expected ratios (issuer may repay and cause redemption to vary in amount of payment/collateral)
  • Rounding errors with unrealistic ratios
  • Dust leftover in contracts
  • Vulnerabilities requiring compromised owner's wallet
  • In addition, issues previously highlighted in the following audit reports are considered out of scope:

Payouts are handled by the Arbor Finance team directly and are denominated in USD. However, payouts are done in USDC.

Program Overview

Arbor allows DAOs and other on-chain entities to borrow stablecoins using their tokens as collateral with fixed rates and no liquidations.

For lenders, Arbor offers sustainable, fixed yields and token price upside through lending and options.

For more information about Arbor Finance, please visit

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.