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Blackwing

Blackwing is a modular blockchain that enables liquidation free leverage trading for long tail assets via a novel construct called Limitless Pools. By taking advantage of recent advancements in modular infrastructure and using Initia as a foundation, Blackwing is able to allow users to seamlessly leverage trade assets from any chain — all without compromising decentralization

Arbitrum
ETH
BSC
Defi
Derivatives
Lending
Solidity
NextJS
Maximum Bounty
$100,000
Live Since
30 April 2024
Last Updated
02 July 2024
  • PoC required

  • KYC required

Submit a Bug

Rewards by Threat Level

Smart Contract
Critical
USD $10,000 to USD $100,000
High
USD $2,500 to USD $10,000
Medium
USD $2,000
Low
USD $1,000
Websites and Applications
Critical
USD $5,500 to USD $10,000
High
USD $5,000
Medium
USD $2,500
Low
USD $1,000

Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.

Reward Calculation for Critical Level Reports

For critical smart contract bugs, the reward amount is 10% of the funds directly affected up to a maximum of USD 100 000. The calculation of the amount of funds at risk is based on the time and date the bug report is submitted. However, a minimum reward of USD 10 000 is to be rewarded in order to incentivize security researchers against withholding a critical bug report.

Repeatable Attack Limitations

If the smart contract where the vulnerability exists can be upgraded or paused, only the initial attack will be considered for a reward. This is because the project can mitigate the risk of further exploitation by upgrading or pausing the component where the vulnerability exists. The reward amount will depend on the severity of the impact and the funds at risk.

For critical repeatable attacks on smart contracts that cannot be upgraded or paused, the project will consider the cumulative impact of the repeatable attacks for a reward. This is because the project cannot prevent the attacker from repeatedly exploiting the vulnerability until all funds are drained and/or other irreversible damage is done. Therefore, this warrants a reward equivalent to 10% of funds at risk, capped at the maximum critical reward.

Reward Calculation for High Level Reports

High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of USD 2 500 to USD 10 000 depending on the funds at risk, capped at the maximum high reward.

In the event of temporary freezing, the reward doubles from the full frozen value for every additional [24h] that the funds are temporarily frozen, up until a max cap of the high reward. This is because as the duration of the freezing lengthens, the potential for greater damage and subsequent reputational harm intensifies. Thus, by increasing the reward proportionally with the frozen duration, the project ensures stronger incentives for bug disclosure of this nature.

For critical web/apps, bug reports will be rewarded with USD 10 000 , only if the impact leads to:

  • A loss of funds involving an attack that does not require any user action
  • Private key or private key generation leakage leading to unauthorized access to user funds

All other impacts that would be classified as Critical would be rewarded a flat amount of USD 5 500. The rest of the severity levels are paid out according to the Impact in Scope table.

Reward Payment Terms

Payouts are handled by the Blackwing team directly and are denominated in USD. However, payments are made in USDC on Arbitrum.

Program Overview

Blackwing is a modular blockchain that enables liquidation free leverage trading for long tail assets via a novel construct called Limitless Pools. By taking advantage of recent advancements in modular infrastructure and using Initia as a foundation, Blackwing is able to allow users to seamlessly leverage trade assets from any chain — all without compromising decentralization

For more information about Blackwing, please visit https://blackwing.fi/.

Blackwing provides rewards in USDC on Arbitrum, which is denominated in USD. For more details about the payment process, please view the Rewards by Threat Level section further below.

KYC Requirement

Blackwing will be requesting KYC information in order to pay for successful bug submissions. The following information will be required:

  • Full name
  • Date of birth
  • Proof of address (either a redacted bank statement with address or a recent utility bill)
  • Copy of Passport or other Government issued ID

Eligibility Criteria

Security researchers who wish to participate must adhere to the rules of engagement outlined in this program and cannot be:

  • On OFACs SDN list
  • Official contributor, both past and present
  • Employees and/or individuals closely associated with the project
  • Security auditors who directly or indirectly participated in the audit review

Responsible Publication

Blackwing adheres to category 3 - Approval Required. This Policy determines what information researchers are allowed to make public from their submitted bug reports. For more information about the category selected, please refer to our Responsible Publication page.

Primacy of Impact vs Primacy of Rules

Blackwing adheres to the Primacy of Impact for the following impacts:

  • Smart Contract - Critical
  • Smart Contract - High
  • Website & Applications - Critical
  • Website & Applications - High

Primacy of Impact means that the impact is prioritized rather than a specific asset. This encourages security researchers to report on all bugs with an in-scope impact, even if the affected assets are not in scope. For more information, please see Best Practices: Primacy of Impact

When submitting a report on Immunefi’s dashboard, the security researcher should select the Primacy of Impact asset placeholder. If the team behind this project has multiple programs, those other programs are not covered under Primacy of Impact for this program. Instead, check if those other projects have a bug bounty program on Immunefi.

If the project has any testnet and/or mock files, those will not be covered under Primacy of Impact.

All other impacts are considered under the Primacy of Rules, which means that they are bound by the terms and conditions set within this program.

Proof of Concept (PoC) Requirements

A PoC, demonstrating the bug's impact, is required for this program and has to comply with the Immunefi PoC Guidelines and Rules.

Previous Audits

Blackwing’s completed audit reports can be found at the links listed below.. Any unfixed vulnerabilities mentioned in these reports are not eligible for a reward.

- Zellic Audit

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.

Immunefi Standard Badge

By adhering to Immunefi’s best practice recommendations, Blackwing has satisfied the requirements for the Immunefi Standard Badge.

KYC required

The submission of KYC information is a requirement 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.