Sturdy-logo

Sturdy

Sturdy is a new kind of DeFi lending protocol that enables users to earn high stablecoin yields or take out interest-free loans. Lenders deposit assets they'd like to earn yield on while borrowers provide collateral and take out the assets deposited by lenders as a loan.

ETH
Fantom
Defi
Lending
Stablecoin
Solidity
Maximum Bounty
$100,000
Live Since
14 March 2022
Last Updated
01 November 2022
  • PoC required

Submit a Bug

Rewards by Threat Level

Smart Contract
Critical
Up to USD $100,000
High
USD $10,000
Medium
USD $5,000
Low
USD $1,000
Websites and Applications
Critical
USD $10,000
High
USD $5,000
Medium
USD $1,000

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 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.

All issues previously highlighted in the following audit report are considered out of scope:

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 20 000 for Critical smart contract bug reports.

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

Program Overview

Sturdy is a new kind of DeFi lending protocol that enables users to earn high stablecoin yields or take out interest-free loans. Lenders deposit assets they'd like to earn yield on while borrowers provide collateral and take out the assets deposited by lenders as a loan.

On existing lending protocols, the interest earned by lenders comes from borrowers. So in order for lenders to earn more, borrowers must pay more. Sturdy uses a different model, where yield instead comes from the borrowers' collateral. When borrowers provide a token as collateral, Sturdy converts it into an interest-bearing token (ibToken) using protocols like Yearn or Lido. Over time, these ibTokens accrue yield; the yield from these tokens are then distributed to lenders in the same token they deposited.

Sturdy enables stablecoin lenders to access yields that are normally only accessible by holding and staking volatile assets and powers interest-free loans for borrowers.

For more information about Sturdy, please visit https://sturdy.finance and https://github.com/sturdyfi/sturdy-contracts.

This bug bounty program is focused on their smart contracts and app and is focused on preventing:

  • Any governance voting result manipulation
  • Direct theft of any user funds, whether at-rest or in-motion, other than unclaimed yield
  • Permanent freezing of funds
  • Extract Sensitive data/files from the server such as /etc/passwd
  • Taking Down the application/website
  • Wallet interaction modification resulting in financial loss
  • Redirection of user deposits and withdrawals

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.