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Spool

Spool is permissionless and non-custodial middleware that allows banks, fintech, funds, exchanges, custodians, treasuries, and builders to earn DeFi returns in a fully composable manner.

ETH
Defi
Asset Management
DAO
Yield Aggregator
Solidity
Maximum Bounty
$1,500,000
Live Since
01 July 2022
Last Updated
08 April 2024
  • PoC required

  • KYC required

Submit a Bug

Rewards by Threat Level

Smart Contract
Critical
USD $50,000 - $1,500,000
High
USD $5,000 - $50,000
Medium
USD $5,000
Low
USD $1,000

Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.

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 1 500 000. 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 critical bug report.

Repeatable Attack Limitations

  • If the smart contract where the vulnerability exists can be upgraded or paused, only the initial attacks within the first hour will be considered for a reward. This is because the project can mitigate the risk of further exploitation by upgrading or pausing the component where the vulnerability exists. The reward amount will depend on the severity of the impact and the funds at risk.

  • For critical repeatable attacks on smart contracts that cannot be upgraded or paused, the project will consider the cumulative impact of the repeatable attacks for a reward. This is because the project cannot prevent the attacker from repeatedly exploiting the vulnerability until all funds are drained and/or other irreversible damage is done. Therefore, this warrants a reward equivalent to 10% of funds at risk, capped at the maximum critical reward.

Reward Calculation for High Level Reports

  • High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are considered at the full amount of funds at risk, capped at the maximum high reward. This is to incentivize security researchers to uncover and responsibly disclose vulnerabilities that may have not have significant monetary value today, but could still be damaging to the project if it goes unaddressed.

  • In the event of temporary freezing, the reward doubles from the full frozen value for every additional 24h that the funds are temporarily frozen, up until a max cap of the high reward. This is because as the duration of the freezing lenghents, the potential for greater damage and subsequent reputational harm intensifies. Thus, by increasing the reward proportionally with the frozen duration, the project ensures stronger incentives for bug disclosure of this nature.

Reward Payment Terms

Payouts are handled by the Spool team directly and are denominated in USD. However, payments are done in USDC.

The calculation of the net amount rewarded is based on the average price between CoinMarketCap.com and CoinGecko.com at the time the bug report was submitted. No adjustments are made based on liquidity availability.

Program Overview

Your Gateway to Institutional-Grade DeFi.

Easy access to diversified, risk-adjusted DeFi yield. For your own portfolios and for your clients.

Spool is permissionless and non-custodial middleware that allows banks, fintech, funds, exchanges, custodians, treasuries, and builders to earn DeFi returns in a fully composable manner.

By removing the complexity of setting up and managing DeFi portfolios, Spool partners can deploy capital, with a single deposit, in diversified yield-generating strategies, as easy as investing in an ETF.

Additionally, Spool allows you to build your own yield strategies and risk models with a few clicks. Portfolios are auto-rebalanced and capital is automatically compounded. Spool minimizes transaction costs, optimizes DeFi yields and brings DeFi risk management to the next level.

With Spool, you get the most out of the DeFi market and can offer superior yield opportunities to your client base, as a cost-free white-labeled solution. Yield for the World. Fuel for DeFi.

For more information about Spool, please visit https://www.spool.fi/.

Spool provides rewards in USDC, denominated in USD. For more details about the payment process, please view the Rewards by Threat Level section further below.

KYC Requirement

Spool will be requesting KYC information in order to pay for successful bug submissions. The following information will be required:

  • Full name
  • Date of birth
  • Proof of address (either a redacted bank statement with address or a recent utility bill)
  • Copy of Passport or other Government issued ID

Eligibility Criteria

Security researchers who wish to participate must adhere to the rules of engagement set forth in this program and cannot be:

  • On OFACs SDN list
  • Official contributor, both past or present
  • Employees and/or individuals closely associated with the project
  • Security auditors that directly or indirectly participated in the audit review

Responsible Publication

Spool adheres to category 3 - Approval Required. This Policy determines what information researchers 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

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

  • Smart Contracts: Critical
  • Smart Contracts: High
  • Smart Contracts: Medium
  • Smart Contracts: Low

Primacy of Impact means that the impact is prioritized rather than a specific asset. This encourages security researchers to report on all bugs with an in-scope impact, even if the affected assets are not in scope. For more information, please see Best Practices: Primacy of Impact

When submitting a report on Immunefi’s dashboard, the security researcher should select the Primacy of Impact asset placeholder. If the team behind this project has multiple programs, those other programs are not covered under Primacy of Impact for this program. Instead, check if those other projects have a bug bounty program on Immunefi.

If the project has any testnet and/or mock files, those will not be covered under Primacy of Impact.

All other impacts are considered under the Primacy of Rules, which means that they are bound by the terms and conditions set within this program.

Proof of Concept (PoC) Requirements

A PoC, demonstrating the bug's impact, is required for this program and has to comply with the Immunefi PoC Guidelines and Rules.

Known Issue Assurance

Spool commits to providing Known Issue Assurance to bug submissions through their program. This means that Spool will either disclose known issues publicly, or at the very least, privately via a self-reported bug submission.

In a potential scenario of a mediation, this allows for a more objective and streamlined process, in order to prove that an issue is known. Otherwise, assuming the bug report is valid, it would result in the report being considered as in-scope, and due a reward.

Previous Audits

Spool’s completed audit reports can be found at the following links:

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.

Immunefi Standard Badge

By adhering to Immunefi’s best practice recommendations, Spool has satisfied the requirements for the Immunefi Standard Badge.

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.