Strike Finance
Strike is an autonomous and decentralized money market that enables variable based rates for supplying digital asset collaterals to the protocol and from borrowing digital assets from the protocol with over-collateralized assets.
PoC required
Rewards by Threat Level
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3. For critical smart contract bugs, the reward amount is 10% of the funds directly affected up to a maximum of USD 50 000. 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 bug report.
Repeatable Attack Limitations
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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.
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For critical repeatable attacks on smart contracts that can not 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
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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 of USD 10 000. 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.
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In the event of temporary freezing, the reward increases at a multiplier of two 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.
For critical web/apps bug reports will be rewarded with USD 15 000 only if the impact leads to:
- A loss of funds involving an attack that does not require any user action
- Unauthorized minting of tokens on-chain
- Private key or private key generation leakage leading to unauthorized access to user funds
All other impacts that would be classified as Critical would be rewarded a flat amount of USD 5 000. The rest of the severity levels are paid out according to the Impact in Scope table.
Reward Payment Terms
Payouts are handled by the Strike Finance team directly and are denominated in USD. However, payments are done in STRK.
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
Strike is an autonomous and decentralized money market that enables variable based rates for supplying digital asset collaterals to the protocol and from borrowing digital assets from the protocol with over-collateralized assets.
The tokenization of digital assets onto the Strike protocol will unlock liquidity from that asset without having to liquidate and/or sell that asset in the market. Money Markets allow users to tap into a peer-to-peer marketplace where all interactions are validated against open-source smart contracts running on the immutable Ethereum blockchain.
The entire Strike protocol is operated by its community with no centralized control or team tokens exercising power over the protocol’s governance. Strike is designed to protect the equilibrium between borrowers and suppliers by allowing liquidators to handle bad vaults and collecting a premium for stabilizing the protocol. Strike users are in control by interacting with the STRK utility token to govern and operate the platform with consensus.
For more information about Strike Finance, please visit https://strike.org/.
Responsible Publication
Strike Finance adheres to category 3 - Approval Require. 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
Strike Finance adheres to the Primacy of Rules, which means that the whole bug bounty program is run strictly under the terms stated in this page.
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
Strike Finance commits to providing Known Issue Assurance to bug submissions through their program. This means that Strike Finance 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
Strike Finance completed audit reports can be accessed on https://skynet.certik.com/projects/strikefinance for reference. Any unfixed vulnerability mentioned in these reports are not eligible for a reward.
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, Strike Finance has satisfied the requirements for the Immunefi Standard Badge.
KYC not required
No KYC information is required for payout processing.
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.