Synthetix
Synthetix provides a building layer that allows other protocols to tap into its universal liquidity pool, offering derivative exposure on an EVM compatible chain.
PoC Required
Rewards
Rewards by Threat Level
Mainnet assets:
Reward amount is 10% of the funds directly affected up to a maximum of:
$100,000All other impacts that are classified as Critical will be rewarded a flat amount of:
$3,000The rest of the severity levels are paid out according to the Impact in Scope table.
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 $100,000. 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.
For critical web/app bugs, the reward amount is 10% of the funds directly affected up to a maximum of USD $30,000. 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 $1,000 is to be rewarded in order to incentivize security researchers against withholding a bug report.
Repeatable Attack Limitations
In cases of smart contract vulnerabilities whereby the attacks can be repeated at certain time intervals, if the attack can be stopped by a configuration change, the total value-at-risk from the consecutive attacks is computed by adding up the losses incurred and applying the below discount factors:
| Time Since Attack 1 | Discount Factor |
|---|---|
| 0 to 15 minutes | 0% |
| 15 to 30 minutes | 25% |
| 30 to 60 minutes | 50% |
| 60 to 120 minutes | 75% |
| > 120 minutes | 100% |
If the attack cannot be stopped by configuration changes, the discount factors are adjusted by 50% (i.e. 0% / 12.5% / 25% … ), with the terminal discount factor being 100% at 4 hours (from the initial attack).
Previous Audits
Synthetix has provided these completed audit review reports for reference. Any unfixed vulnerability mentioned in these reports are not eligible for a reward.
- https://github.com/Synthetixio/synthetix-docs/blob/master/content/releases.md - https://docs.synthetix.io/v/v3/for-developers/smart-contract-audits
Proof of Concept (PoC) Requirements
A PoC is required for the following severity levels:
- Critical
- 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.
Reward Payment Terms
As part of the bug bounty matching program, Optimism will contribute 52,500 OP tokens to match the rewards offered by Synthetix. This means that for every reward paid out by Synthetix to a security researcher, Optimism will provide an additional, matching reward, in OP tokens. The total reward pool for this program is 52,500 OP tokens. The other 50% of the reward (if applicable for matching) will be paid by Synthetix in USDC.
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System v. 2.3. This is a simplified 4-level scale. The development of this scale took into consideration multiple factors that may affect a vulnerability and its likelihood of exploitation, but finalizes them largely by the impact that they cause.
The table below is mostly concerned with the consequence of a successful exploit. Keep in mind that if the exploit requires elevated privileges or uncommon user interaction, the level of the bug may be downgraded to reflect that or rejected.
Goodwill Payments
This applies to the following severity and asset levels:
- Smart Contract - Low
- Web/App - Medium
- Web/App - Low
Synthetix is willing to offer discretionary “Goodwill Payments” for any bugs that fall under these categories and affect TVL <$1,000,
Furthermore, if the value of the assets at risk cannot be estimated, then the bounty payment would be discretionary based on goodwill terms.
Program Overview
Synthetix provides a building layer that allows other protocols to tap into it’s universal liquidity pool, offering derivative exposure on an EVM compatible chain.
Resources regarding Synthetix contracts can be found on at the bottom of the program, where v2x perp trading is still covered and v3 snx/susd staking. All other v3 contracts that are not related to snx/susd staking, as well spot markets on v2x are not covered in this bounty program
For more information about Synthetix, please visit https://synthetix.io/.
Synthetix provides rewards in USDC. For more details about the payment process, please view the Rewards by Threat Level section further below.
Primacy of Impact vs Primacy of Rules
Synthetix adheres to the Primacy of Rules
Immunefi Standard Badge
Synthetix 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.
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.