OnRe issues ONyc, a yield-bearing token on Solana whose value tracks a portfolio of short-duration reinsurance contracts. Capital backing ONyc is held by On Re SAC Ltd, a Special Purpose Insurer regulated by the Bermuda Monetary Authority, and deployed into reinsurance positions where returns come from real-world premium income rather than token emissions or subsidies. The Solana program governs minting, redemption, on-chain NAV calculation, supply caps, vault accounting, and the role-based authority that operates the protocol.
Runnable PoC Required
KYC required
Rewards
Rewards by Threat Level
Mainnet assets:
Reward amount is 10% of the funds directly affected up to a maximum of:
$100,000Minimum reward to discourage security researchers from withholding a bug report:
$10,000Rewards are distributed according to the impact the vulnerability could otherwise cause based on the Impacts in Scope table further below.
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, and is bounded by on-chain assets exposed by the vulnerability, including but not limited to the offer and redemption vault balances and the value of any ONyc that could be minted without corresponding deposit. Capital held off-chain by On Re SAC Ltd in the regulated Bermuda SAC is not reachable from the Solana program and is therefore excluded from the funds-at-risk calculation. A minimum reward of USD 10,000 applies in order to incentivize security researchers against withholding a bug report.
For a bug to be deemed critical, the attack must originate from an unknown address. The setup in the PoC may be performed by privileged accounts that exist on-chain (boss, redemption_admin, admin, approver1, approver2), but the attacking account must be unvetted. Vulnerabilities that require collusion or compromise of one or more privileged accounts to execute are out of scope and treated as governance-layer concerns, not on-chain bugs.
Repeatable Attack Limitations
In cases of repeatable attacks for smart contract bugs, only the first attack will be counted, regardless of whether the smart contract is upgradable, pausable, or killable.
Previous Audits
OnRe has provided these completed audit reports for reference. Any unfixed vulnerability mentioned in these
reports is not eligible for a reward.
Proof of Concept (PoC) Requirements
A PoC is required for the following severity levels:
- Smart Contract, Critical Severity Level
- Smart Contract, High Severity Level
- Smart Contract, Medium Severity Level
- Smart Contract, Low Severity Level
All PoCs submitted must comply with the Immunefi-wide PoC Guidelines and Rules.
PoCs for the OnRe Solana program should be runnable in a deterministic local environment such as solana-program-test, anchor-bankrun, or LiteSVM, against the source at the commit specified in Assets in Scope.
Bug report submissions without a PoC when a PoC is required will not be provided with a reward.
Reward Payment Terms
Payouts are handled by the OnRe team directly and are denominated in USD. However, payments are done in USDC.
Program Overview
OnRe issues ONyc, a yield-bearing Solana token backed by a portfolio of short-duration reinsurance contracts. Capital is held by On Re SAC Ltd (a Special Purpose Insurer regulated by the Bermuda Monetary Authority) and earns yield from real-world insurance premiums. The Solana program at onreuGhHHgVzMWSkj2oQDLDtvvGvoepBPkqyaubFcwe controls minting, redemption, and NAV computation. The collateral itself is held off-chain in the regulated Bermuda SAC and is therefore not reachable from the on-chain program; this bug bounty focuses on the on-chain Solana program and the supporting components listed under Assets in Scope.
For more information about OnRe, please visit https://onre.finance/. Technical and security documentation is available at https://docs.onre.finance/.
OnRe provides rewards in USDC. For more details about the payment process, please view the Rewards by Threat Level section further below.
KYC Requirement
The provision of KYC is required to receive a reward for this bug bounty program where the following information will be required to be provided:
- Identity Document
- Proof of Address
KYC information is only required on confirmation of the validity of a bug report and will be handled by Onfido.
Researchers resident in jurisdictions excluded under OnRe's policy and researchers in OFAC-sanctioned jurisdictions are not eligible to receive rewards.
Primacy of Impact vs Primacy of Rules
OnRe adheres to the Primacy of Rules, which means that the whole bug bounty program is run strictly under the terms stated in this page.
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 3: Approval 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.