Triaged by Immunefi
PoC Required
KYC required
Arbitration enabled
Rewards
Rewards by Threat Level
Mainnet assets:
Reward amount is 10% of the funds directly affected up to a maximum of:
$50,000Minimum reward to discourage security researchers from withholding a bug report:
$11,000Rewards by Threat Level
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 50 000. 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 11 000 is to be rewarded in order to incentivize security researchers against withholding a critical bug report.
Repeatable Attack Limitations
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If the smart contract where the vulnerability exists can be upgraded or paused, only the initial attack will be considered for a reward.
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The amount of funds at risk will be calculated with the impact of the first attack being at 100% and then a reduction of 25% from the amount of the first attack for every [300 blocks] the attack needs for subsequent attacks from the first attack, rounded down.
Reward Calculation for High Level Reports
High impacts concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of USD 3 000 to USD 10 000 with the reward calculated based on 100% of the funds at risk, though 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.
Reward Payment Terms
Payouts are handled by the Ern team directly and are denominated in USD. However, payments are done in USDC on Ethereum.
The calculation of the net amount rewarded is based on the average price between CoinMarketCap.com and CoinGecko.com at the time the bug report was submitted. No adjustments are made based on liquidity availability.
Program Overview
Ern is a non-custodial DeFi protocol on Ethereum that allocates stablecoin deposits into decentralized money markets and programmatically converts the generated yield into Bitcoin (wBTC).
Users retain exposure to a dollar-denominated principal (USD-backed stablecoins) while the interest produced by lending activity is periodically swapped into Bitcoin. In effect, the protocol separates savings stability from return denomination: capital remains stable, while returns accrue in a scarce asset.
This creates an automated, on-chain accumulation mechanism comparable to a continuous Dollar-Cost Averaging strategy, executed without manual trading, timing decisions, or recurring transaction overhead.
For more information about Ern, please visit ern.app.
Ern provides rewards in USDC on Ethereum, denominated in USD. For more details about the payment process, please view the Rewards by Threat Level section further below.
Audits
KYC required
The submission of KYC information is a requirement for payout processing.
Proof of Concept
Proof of concept is always required for all severities.
Responsible Publication
Category 2: Notice Required
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.