Silo Finance
Silo is a non-custodial lending protocol that implements risk-isolated money markets on Ethereum and Arbitrum where any crypto asset can be borrowed with another.
PoC required
Rewards
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, smart contracts, and blockchains/DLTs, focusing on the impact of the vulnerability reported.
All web/app bug reports and all Critical/High severity smart contract 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 accepted as PoC and code is required.
Rewards for critical smart contract 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 reward of USD 30 000 and a maximum of USD 100 000 for Critical smart contract bug reports.
Critical website and application bug reports will be rewarded with USD 20 000 only if the impact leads to a direct loss in funds or a manipulation of the votes or the voting result, as well as the modification of its display leading to a misrepresentation of the result or vote. All other impacts that would be classified as Critical would be rewarded no more than USD 10 000.
The following impacts/vulnerabilities are considered out of scope:
- Attacks caused by rebase tokens, fee-on-transfer tokens or non-standard ERC20 tokens are out of scope unless such token has deployed and configured Silo with user funds or has a pending DAO proposal for its Silo.
- On-chain oracle manipulation attacks (BalV2 TWAP, UniV3 TWAP and future integrations).
- Interest rate manipulation caused by lack of liquidity.
- Liquidation front-running.
In addition, known issues highlighted in audits or disclosure reports are considered out of scope:
- ChainSecurity Audit
- Vulnerability Disclosure June 6, 2023
- Certora Formal Verification
- ABDK Audit
- Quantstamp Audit
Payouts are handled by the Silo Finance team directly and are denominated in USD. However, payouts are done in USDC.
Program Overview
Silo is a non-custodial lending protocol that implements risk-isolated money markets on Ethereum and Arbitrum where any crypto asset can be borrowed with another.
For more information about Silo Finance, please visit https://www.silo.finance/.
KYC not required
No KYC information is required for payout processing.
Proof of Concept
Proof of concept is always required for all severities.
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.