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Thala Protocol

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Thala is a suite of decentralized finance (DeFi) primitives serving as the backbone of the Aptos ecosystem. The protocol revolves around three modules: AMM, CDP, and LST. This is a Closed Source Bug Bounty Program. Please read the Program Overview section for a detailed explanation of this type of program.

Maximum Bounty
$250,000
Live Since
30 September 2025
Last Updated
14 October 2025
  • PoC Required

  • KYC required

Rewards

Thala Protocol provides rewards in USDC on Aptos, denominated in USD.

Rewards by Threat Level

Smart Contract
Critical
Up to: $250,000
Primacy of Rules
High
Max: $25,000Min: $10,000
Primacy of Rules
Medium
Flat: $2,500
Primacy of Rules
Low
Flat: $1,000
Primacy of Rules
Critical Reward Calculation

Mainnet assets:

Reward amount is 10% of the funds directly affected up to a maximum of:

$250,000

Rewards by Threat Level

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 $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 attack will be considered for a reward.
    • In the case of unverified smart contracts, the proof about such functionality will be checked during a mediation by a Triage team.
  • The amount of funds at risk will be calculated with the impact of the first attack being at 100% and then a reduction of 25% from the amount of the first attack for every 34,000 blocks the attack needs for subsequent attacks from the first attack, rounded down.

Reward Calculation for High Level Reports

High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of $10,000 to $25,000 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 24h that the funds are temporarily frozen, up until a max cap of the high reward.

Reward Payment Terms

Payouts are handled by the Thala Protocol team directly and are denominated in USD. However, payments are done in USDC on Aptos.

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

Thala is a suite of decentralized finance (DeFi) primitives serving as the backbone of the Aptos ecosystem. The protocol revolves around three modules: AMM, CDP, and LST.

For more information about Thala Protocol, please visit https://www.thalalabs.xyz/.

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

Closed Source BBP

This program is designed for security researchers to review the project’s system from a black-box perspective. Researchers will perform penetration testing on local copies of the blockchain without access to the source code.

The project will provide a dedicated testing framework where all Proofs of Concept (PoCs) must be written and executed. Submitting a valid PoC is required to be eligible for rewards. PoCs will be tested by the project and, if applicable, by the triage team (in the case of managed triaging) or during mediation. This process ensures verification of reported bugs and confirmation that the claimed impact can indeed be achieved.

KYC Requirement

Thala Protocol 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
  • A contracted technical contributor who is being directly compensated by the project or directly compensated by a contracted organization providing technical services to the project.
  • A former contracted technical contributor who, for the past year from the date of the bug report submission, was directly compensated by the project or was compensated by a contracted organization to the project. In the case of the latter, the status of the organization’s contract with the project is irrelevant.

Primacy of Impact vs Primacy of Rules

Thala Protocol adheres to the Primacy of Impact for the following impacts:

  • Smart Contract — Critical
  • Smart Contract — High
  • Smart Contract — Medium
  • Smart Contract — 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 rules below.

  • All Proofs of Concept must be implemented using the AptosBB framework. Submissions relying on alternative tools, scripts, or methods shall be deemed invalid and will not be accepted.
  • Researchers must clone the AptosBB repository, clear the contents of the pentest.rs file, and implement their PoC therein. The PoC must demonstrate the exploit in an isolated, local environment, consistent with the framework’s intended design
  • Manual alteration of the WriteSet, or any modification of behaviors not reproducible on the target system in a remote execution scenario, is strictly prohibited. Any such modifications shall render the submission void.
  • All submitted PoCs must replicate an end-to-end exploit against the target contract and clearly demonstrate the security impact. Submissions that fail to show demonstrable, reproducible impact shall not qualify for reward consideration.

Audits

Auditor
All Audits
Completed at
1 October 2025

KYC required

The submission of KYC information is a requirement for payout processing.

Participants must adhere to the Eligibility Criteria.

Proof of Concept

Proof of concept is always required for all severities.

Responsible Publication

Category 3: Approval Required

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.