NFTfi is the leading liquidity protocol for NFTs. NFTfi allows NFT owners to use the assets (NFTs) they own to access the liquidity they need by receiving secured loans from liquidity providers, peer-to-peer, in a completely trustless manner.

Theft or permanent freezing of NFT loan collateral during the Refinancing process of paying off the old loan and refinancing to a new loan.

Direct theft or permanent freezing of any lender or borrower  funds during the Refinancing process of paying off the old loan and refinancing to a new loan.

Impacts that depend on NFTfi registering faulty NFT Adapters, Refinancing adapters, NFT collections or ERC20 loan denominations are out of scope. That is, only impacts in the scope of currently registered and enabled adapters, NFT collections and loan denominations.

NFTfi Documentation

Rewards are distributed according to the impact of the vulnerability based on the [Immunefi Vulnerability Severity Classification System V2.3. ](https://immunefi.com/immunefi-vulnerability-severity-classification-system-v2-3/)

__Reward Calculation for Critical Level Reports__

For critical smart contract bugs on testnet assets, the reward is paid as a flat amount of USD 20 000. This is because there are no actual funds at risk on the testnet, hence limits objective calculation. 


__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.

__Reward Payment Terms__

Payouts are handled by the NFTfi team directly and are denominated in USD. However, payments are done in USDC.

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.

NFTfi (Testnet Refi)

Documentation