Strata is a general-purpose risk-tranching protocol that brings structured yield products to
diverse on-chain and off-chain yield strategies by splitting underlying yield into tokenized Senior and Junior tranches, each tailored to distinct risk–reward profiles.
Since launching its first markets on Ethena USDe and later on Neutrl NUSD, Strata has grown to over $250M in TVL with 13,000+ users participating across both markets. Over the coming months, Strata plans to expand horizontally to additional yield products, including curated lending vaults, managed multi-strategy vaults, exotic delta-neutral strategies, tokenized private credit, high-yield RWAs etc.
For more information about Strata, please visit https://strata.markets
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:
$250,000Minimum reward to discourage security researchers from withholding a bug report:
$10,000Primacy of Impact vs Primacy of Rules
Strata adheres to the Primacy of Rules, which means that the whole bug bounty program is run strictly under the terms and conditions stated within this page.
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 $250,000. 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 $10,000 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 attack will be considered for a reward.
The amount of funds at risk will be calculated with the impact of the first attack being at 100% and then a reduction of 100% from the amount of the first attack for every 1 hours the attack needs for subsequent attacks from the first attack, rounded down.
Reward Calculation for High Level Reports
High impacts concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of $5,000 to $10,000 with the reward calculated based on 100% of the funds at risk, though capped at the maximum high reward.
In the event of temporary freezing, the reward doubles from the full frozen value for every additional 1 hours that the funds are temporarily frozen, up until a max cap of the high reward.
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 $250,000. 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 $10,000 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 attack 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 rewarded within the specified range depending on the funds at risk, capped at the maximum high reward.
In the event of temporary freezing, the reward doubles from the full frozen value for every additional [48h] that the funds are temporarily frozen, up until a max cap of the high reward. This is because as the duration of the freezing lengthens, 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 Strata team directly and are denominated in USD. However, payments are done in USDC on Mainnet.
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
The Strata Bug Bounty Program invites security researchers and ethical hackers to responsibly disclose vulnerabilities in the Strata protocol - especially those that could lead to loss of funds, frozen assets, incorrect yield distribution or other critical risk events. This program is strictly focused on smart contracts and core protocol logic.
Audits
Completed audit reports for this project can be found at the links below.
Any unpatched or unresolved vulnerabilities disclosed in these reports are not eligible for rewards.
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.