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Rai

RAI is an ETH backed stable asset with a managed float regime. The RAI/USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de or revaluing it.

ETH
Defi
DEX
Insurance
Staking
Solidity
Maximum Bounty
$100,000
Live Since
02 November 2021
Last Updated
08 April 2024
  • PoC required

Submit a Bug

Rewards by Threat Level

Smart Contract
Critical
Up to USD $100,000
High
USD $25,000
Medium
USD $10,000
Low
USD $2,500

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.

Critical, High and Medium severity bug reports must come with a PoC and a suggestion for a fix in order to be considered for a reward.

Critical vulnerabilities are further capped at 10% of economic damage, with the main consideration being the funds affected in addition to PR and brand considerations, at the discretion of the team. However, there is a minimum of USD 50 000 for Critical bug reports.

Known issues from their previous audits are considered out-of-scope:

https://github.com/reflexer-labs/geb-audits/blob/master/open-zeppelin/core-contracts/oz-geb-protocol-audit.pdf

https://github.com/reflexer-labs/geb-audits/tree/master/quantstamp/helper-contracts/first-audit

https://github.com/reflexer-labs/geb-audits/blob/master/quantstamp/helper-contracts/second-audit/Reflexer%20Second%20Engagement%20-%20Final%20Report.pdf

https://github.com/reflexer-labs/geb-audits/blob/master/quantstamp/staking/Reflexer%20Staking%20and%20Auction%20House%20-%20Report.pdf

https://github.com/reflexer-labs/geb-audits/blob/master/solidified/helper-contracts/Solidified%20Audit%20Report%20-%20Reflexer%20%5B26.01.2021%5D.pdf

Additionally, there is a known bug in the contract below where, if it does not have tokens anymore, it cannot compute a 0 reward. This does not affect the rest of the functionality of the system and would also be considered out-of-scope.

https://github.com/reflexer-labs/geb-lender-first-resort/blob/master/src/AutoRewardDripper.sol

Payouts are handled by the Reflexer team directly and are denominated in USD. However, payouts are done in FLX, RAI or a combination of both at the discretion of the team.

Program Overview

RAI is an ETH backed stable asset with a managed float regime. The RAI/USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de or revaluing it.

For more information about Rai, please visit https://docs.reflexer.finance

This bug bounty program is focused on Rai's smart contracts and is focused on preventing:

  • Loss of user funds staked (principal) by freezing or theft
  • Incorrect accounting logic in the core protocol
  • Theft of unclaimed yield
  • Unable to shut down the protocol in the global settlement process
  • Freezing of unclaimed yield
  • Temporary freezing of funds
  • Unable to call smart contract
  • Smart contract fails to deliver promised returns

KYC not required

No KYC information is required 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.