Goldfinch
Goldfinch is a decentralized protocol that allows for crypto borrowing without crypto collateral. The Goldfinch protocol has four core participants: Borrowers, Backers, Liquidity Providers, and Auditors.
PoC required
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 and smart contracts/blockchains, encompassing everything from consequence of exploitation to privilege required to likelihood of a successful exploit.
All web/app bug reports must come with a PoC in order to be considered for a reward.
“Clickjacking state-changing” is considered “High” if it could result in greater than USD 10 000 worth of such damages.
The payout for critical and high severity bugs is calculated as the minimum of 10% of economic damage from the exploit and the maximum payout for the exploit’s severity level; however there is a minimum reward of USD 5 000 for valid critical bug reports, and a minimum reward of USD 1 000 for valid high severity bug reports.
In order to be eligible for a reward, the following terms and conditions must be met:
- Identify an original, previously unreported, non-public vulnerability within the scope of the Goldfinch bug bounty program as described.
- Include sufficient detail in your disclosure to enable our engineers to quickly reproduce, understand, and fix the vulnerability.
- Be at least 18 years of age.
- Be reporting in an individual capacity, or if employed by a company, reporting with the company’s written approval to submit a disclosure to Goldfinch.
- Not be subject to US sanctions or reside in a US-embargoed country.
- Not be a current or former Goldfinch employee, vendor, contractor, or employee of a Goldfinch vendor or contractor.
Vulnerabilities in contracts built on top of Goldfinch by third-party developers (such as smart contract wallets) are not in-scope, nor are vulnerabilities that require ownership of an admin key.
Known bugs found at the following link are considered out of scope for the program:
Payouts are handled by the Goldfinch team directly and are denominated in USD. However, payouts are done in USDC.
Program Overview
Goldfinch is a decentralized protocol that allows for crypto borrowing without crypto collateral. The Goldfinch protocol has four core participants: Borrowers, Backers, Liquidity Providers, and Auditors.
Borrowers are participants who seek financing, and they propose Borrower Pools for the Backers to assess. Borrower Pools contain the terms a Borrower seeks, like the interest rate and repayment schedule.
Backers assess the Borrower Pools and decide whether to supply first-loss capital. After Backers supply capital, Borrowers can borrow and repay through the Borrower Pool.
Liquidity Providers supply capital to the Senior Pool in order to earn passive yield. The Senior Pool uses the Leverage Model to automatically allocate capital to the Borrower Pools, based on how many Backers are participating in them. When the Senior Pool allocates capital, a portion of its interest is reallocated to the Backers. This increases the Backers’ effective yield, which incentives them to both provide the higher-risk first-loss capital and do the work of assessing Borrower Pools.
Lastly, Auditors vote to approve Borrowers, which is required before they can borrow. Auditors are randomly selected by the protocol, and they provide a human-level check to guard against fraudulent activity.
For more information about Goldfinch, please visit https://goldfinch.finance/.
This bug bounty program is focused on their smart contracts and app and is focused on preventing the following impacts:
- Loss of user funds
- Loss of governance funds
- Incorrect or unintended behavior relating to money transfers (ie. user input is for 10 USDC, and we actually try to move 100 USDC)
- Logical bugs relating to calculation of interest or principal owed, or payment dates, etc.
- Temporary freezing of user or governance funds.
- Unable to call smart contract
- Pointing to an incorrect smart contract from our frontend
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.