Triaged by Immunefi

SparkLend is a DAI-centric decentralised non-custodial liquidity market protocol where users can participate as suppliers or borrowers. Suppliers provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.

Maximum Bounty
Live Since
01 November 2023
Last Updated
19 July 2024
  • Triaged by Immunefi

  • PoC required

Submit a Bug

Rewards by Threat Level

Smart Contract
USD $50,000 to USD $5,000,000
USD $10,000 to USD $100,000
Websites and Applications
Website - USD $5,000 & Application - USD $25,000 to USD $50,000
Website - USD $2,500 & Application - USD $5,000
Website - USD $1,000 & Application - USD $2,500

Rewards 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 5 000 000. The calculation of the amount of funds at risk is based on the time and date the bug report is submitted. However, a minimum reward of USD 50 000 is to be rewarded in order to incentivize security researchers against withholding a bug report.

Repeatable Attack Limitations

In cases of repeatable attacks for smart contract bugs, only the first attack is considered if the smart contracts where the vulnerability exists can be upgraded, paused, or killed. If the attack impacts a smart contract directly holding funds that cannot be upgraded or paused, the amount of funds at risk will be calculated with the impact of the first attack being at 100% and then for every 300 blocks the attack needs for subsequent attacks from the first attack the impact will be counted at a reduction of 25% from the impact of the first attack, rounded down. For avoidance of doubt, if a second attack would happen at 600 blocks and then a third at 900 blocks, the funds at risk would be counted at 50% and 25% of the reward from the first attack, respectively.

However, for smart contracts directly holding funds that cannot be paused, if a discovered vulnerability includes the temporary locking of funds that could otherwise be withdrawn and thus prevented from being stolen but still accessible to the exploiter to take the funds, the time is extended to the exact same time as temporary locking. Extensions of the temporary locking that introduce a gap where withdrawals can happen will not be considered.

We do not consider funds locked if:

  • Funds are not used as collateral and can eventually be recovered by a governance action

Reward Calculation for High Level Reports

High smart contract impacts will be capped at up to 100% of the funds affected. In the event of temporary freezing, the reward doubles for every additional 300 blocks that the funds could be temporarily frozen, rounded down to the nearest multiple of 300, up to the hard cap of USD 100 000. However, if it is within the hard cap, there is a further hard cap of 1000% of the funds affected.

However, a temporary freezing impact with less than 150 blocks will be rewarded the flat amount of USD 10 000.

We do not consider funds frozen if:

  • Funds are not used as collateral and can eventually be recovered by a governance action

Restrictions on Security Researcher Eligibility

Security researchers who fall under any of the following are ineligible for a reward

  • Compensated contributors of Spark and/or MakerDAO who have written code for at least one of the assets in scope below

Previous Audits

SparkLend has provided these completed audit review reports for reference. Any unfixed vulnerability mentioned in these reports are not eligible for a reward.

Feasibility Limitations

Bug reports that require an attack that involve one or more other protocols (e.g. utilizing flash loans from a margin protocol or manipulating the spot prices on a DEX), either to make an attack more severe than it would be in isolation, or to achieve an attack that would otherwise be impossible or infeasible, would be downgraded or rejected entirely. However, they will be considered as in-scope and categorized according to the program rules as long as all of the following are true:

  • Losses or other negative effects of the attack are inflicted upon SparkLend ecosystem participants
  • The additional protocols used must have enough liquidity in various assets to allow the attack to succeed at the time of bug report submission. For example: if an attack requires an ETH flash loan, but the amount is larger than all the ETH available for loan across the ecosystem

Proof of Concept (PoC) Requirements

A PoC is required for the following severity levels:

  • Smart Contract - Critical
  • Smart Contract - High

All PoCs submitted must comply with the Immunefi-wide PoC Guidelines and Rules. Bug report submissions without a PoC when a PoC is required will not be provided with a reward.

Other Terms and Information

  • In the calculation of the USD value of the total value locked metric in determining the funds at risk, it does not include outstanding borrows.
  • Referenced libraries, proxy implementations and inherited contracts of all listed assets in scope are also considered in scope of the bug bounty program.
    • In selecting an asset in scope that is impacted, please select the most relevant asset.
  • In order to be eligible for a reward, the vulnerability must exist in the deployed smart contract and not just the GitHub file. In the event that a vulnerability exists on the GitHub file but not on the most recently deployed contract, this may be due to a fix to address a vulnerability but done in a discreet manner until proper communication can be done.

Reward Payment Terms

Reward Denomination: Payments are denominated in USD. However, payouts are done in DAI assuming a full 1:1 ratio with the USD. However, if the price of DAI deviates from the USD value by more than 1%, the amount of DAI will be adjusted.

Payout Process: All bounty payouts are handled by MakerDAO governance. Upon confirmation, bug bounty payouts should be included in the next possible ‘executive spell’, which is a governance vote with an onchain payload attached to it. This would involve sending DAI directly from the protocol’s buffer to the whitehat hacker.

Immunefi will publicly contact one of the Governance Facilitators with the request, including a specification of the respective vulnerability report, the requested amount and the Ethereum mainnet addresses of the beneficiaries. This should also include the payment details of the Immunefi fee, if it applies. Immunefi and the Maker Governance Facilitators should make sure the payout occurs up to one full calendar month after the report was approved.

For bug bounty rewards over USD 1 000 000, after the first million is paid out, the remaining amount is paid out over time with up to USD 1 000 000 per consecutive month until the determined amount for payout is reached.

Program Overview

SparkLend is a DAI-centric decentralised non-custodial liquidity market protocol where users can participate as suppliers or borrowers. Suppliers provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.

For more information about Spark, please visit

SparkLend provides rewards in DAI. For more details about the payment process, please view the Rewards by Threat Level section further below.

Responsible Publication

SparkLend adheres to category 3. This Policy determines what information whitehats are allowed to make public from their submitted bug reports. For more information about the category selected, please refer to our Responsible Publication page.

Primacy of Impact vs Primacy of Rules

SparkLend adheres to the Primacy of Impact for the following impacts:

  • Smart Contract - Critical

If an impact is covered within the Primacy of Impact, it means that even if the impacted asset is not in-scope but is owned by the project, then it would be considered as in-scope of the bug bounty program. When submitting a report, just select the Primacy of Impact asset placeholder. If the team behind this project has multiple projects, those other projects are not covered under the Primacy of Impact of this program. Instead, check if those other projects have a bug bounty program on Immunefi.

Testnet and mock files are not covered under the Primacy of Impact.

All other impacts are considered under the Primacy of Rules, which means that they are bound by the terms of the bug bounty program.

Known Issue Assurance

SparkLend commits to providing Known Issue Assurance to bug submissions through their program. This means that SparkLend will either disclose known issues publicly or at the very least privately via a self-reported bug submission in order to allow for a more objective and streamlined mediation process to prove that an issue is known. Otherwise, assuming the bug report itself is valid, it would result in the bug report being considered in-scope and due 100% of the reward with respect to the bug bounty program terms.

Immunefi Standard Badge

SparkLend has satisfied the requirements for the Immunefi Standard Badge, which is given to projects that adhere to our best practices.

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.