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Ondo Finance

Ondo Finance brings exposure to US Treasuries and institutional-grade bonds on-chain, making it possible for token holders to earn yield through daily liquid, bankruptcy-remote, tokenized assets. Ondo significantly broadens the investor base that can capitalize on these yields, while reducing the friction experienced when converting between stablecoins and tokenized traditional assets.

ETH
Defi
Yield Aggregator
Solidity
Maximum Bounty
$250,000
Live Since
07 March 2023
Last Updated
15 July 2024
  • PoC required

  • KYC required

Submit a Bug

Rewards by Threat Level

Smart Contract
Critical
USD $25,000 to USD $250,000
High
USD $25,000
Medium
USD $10,000
Low
USD $1,000

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 bug reports must come with a PoC with an end-effect impacting an asset-in-scope in order to be considered for a reward. Explanations and statements are not sufficient as PoC; bug reports must include a runnable PoC in order to prove impact. Exceptions may be made in cases where the vulnerability is objectively evident, however the bug reporter may be required to provide a PoC at any point in time.

Rewards for critical smart contract vulnerabilities are further capped at 10% of possible economic damage, with the main consideration being the funds affected in addition to PR and brand considerations, at the discretion of the team. Regardless, there is a minimum reward of USD 25 000 for Critical smart contract bug reports.

Known issues highlighted in the following audit reports (including the issues highlighted in the Code4rena Competition READMEs and findings repos) are considered out of scope:

In addition, the following known issues are also considered out of scope of this program:

  • Profiting from purchasing OUSG or USDY before a price increase and then immediately selling after. This includes using MEV and flash loans.
  • Effects from large price swings in the SHV ETF, which may constrain the prices at which OUSG can be set to
  • Effects from allowlists and blocklists (e.g. KYC Registry, USDC blacklist, Chainalysis Sanctions Oracle, USDY Blocklist, BUIDL Whitelist, etc.)
  • Effects from the BUIDL token being seized by the issuer or configured in a way that interferes with OUSGInstantManager Redemptions
  • Users unable to perform instant redemptions because there is not enough USDC or BUIDL in the OUSGInstantManager contract
  • Users unable to perform instant redemptions because there is not enough USDC liquidity available for the BUIDL token
  • Effects from USDC depegging
  • Misuse of admin rights (malicious or accidental)
  • Taking advantage of rate limits to DDOS subscriptions and redemptions
  • Minimum redemption amounts prohibiting a user from performing a redemption
  • Minor imprecision stemming from rebasing tokens or differences in decimals. This includes intentional and unintentional dust accumulation in the form of token balances and rebasing token “shares.”
  • Front running permissioned setter functions that pertain to fees
  • Front running permissioned override functions for subscription or redemption state in OUSG Manager and USDY Manager

Payouts are handled by the Ondo Finance team directly, are denominated in USD, and are processed in USDC. The payment will be made by Ondo Finance Inc.

Program Overview

Ondo Finance brings exposure to US Treasuries and institutional-grade bonds on-chain, making it possible for token holders to earn yield through daily liquid, bankruptcy-remote, tokenized assets. Ondo significantly broadens the investor base that can capitalize on these yields, while reducing the friction experienced when converting between stablecoins and tokenized traditional assets.

Qualified purchasers receive tokenized fund interests which are transferable on-chain, including through approved smart contracts, paving the way for a compliant on-chain financial ecosystem powered by real world assets.

For more information about Ondo Finance, please visit https://ondo.finance/

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.