Threshold Network powers tBTC, the Bitcoin standard in finance and the most decentralized 1:1 tokenized BTC, enabling Bitcoin liquidity to flow seamlessly across chains without compromising on settlement finality. Built on threshold cryptography and secured by a rotating network of independent node operators, tBTC distributes control of BTC so that no single entity can act unilaterally on funds. This architecture embodies Bitcoin’s core values : trust-minimized, permissionless, and censorship-resistant, while maintaining a direct settlement path back to native Bitcoin. By bridging BTC into DeFi through a system designed to favor math over trust, tBTC establishes the foundation for secure, decentralized Bitcoin utility across multiple ecosystems. This infrastructure enables tBTC to power lending, trading, and yield across major DeFi networks.
PoC Required
Rewards
Rewards by Threat Level
Mainnet assets:
Reward amount is 10% of the funds directly affected up to a maximum of:
$150,000Minimum reward to discourage security researchers from withholding a bug report:
$10,000Please review how rewards are distributed based on the Immunefi Vulnerability Severity Classification System V2.3 This is a simplified 4-level scale system with separate scales for Smart Contracts and Websites/Apps.
Rewards for critical smart contract bug reports will be further capped at 10% of direct funds at risk if the bug discovered is exploited. However, there is a minimum reward of USD 10 000 and a max program cap of USD 150 000.
Rewards for low smart contract bug reports will be discretionary and according to the report (and PoC) quality and effort. Low criticality involves those impacts where the contract fails to deliver promised returns, but doesn't lose value. There is a max cap of USD 1 000.
Critical web/app vulnerabilities are eligible for a two-tier reward structure: Critical issues that result in provable financial loss are rewarded with $3,000, while all other Critical web/app vulnerabilities receive a $1,000 reward.
Reward Cap for T Staking Contract Findings: Findings related to the T staking contract are eligible for rewards but will be capped at a maximum of USD 100 000 per vulnerability, irrespective of severity classification, in the case only T is impacted.
Payouts and Payout Requirements
Payouts are handled by the Threshold DAO team and denominated in USD. The DAO determines the payout asset in its sole discretion. Payouts will ordinarily be made in USDC, but the DAO may instead pay the USD-equivalent amount in T. Whitehats may not elect the payout asset.
If payment is made in T, the token amount will equal the USD-denominated reward divided by the reference price. The reference price will be the arithmetic mean of the hourly T/USD prices published by CoinGecko during the 24-hour period ending when the payout is calculated. Before payment, the DAO will provide the calculation timestamp, source data, reference price, and resulting token amount. If payment is not sent within 24 hours after calculation, the amount will be recalculated.
Threshold Network will honor the payout terms in effect when a report is submitted. Those terms constitute the governing agreement and source of truth for that report and its responsible disclosure.
For the purposes of determining report validity, this is a Primacy of Rules program.
Learn more about report validity best practices here: Best Practice - Primacy of Impact vs Primacy of Rules.
Threshold Network would like to notify whitehats that payouts concerning high and critical reports may exceed the SLA established by Immunefi. These larger payouts could be delayed by a few hours or days, depending on the amount, to allow our governance process to fund the required payment, which can take up to 14 days. Threshold Network will inform the whitehat whenever this is the case, within the SLA timeframe, to manage expectations and provide clarity.
KYC Requirements:
Threshold Network does not have a Know Your Customer (KYC) requirement for bug bounty payouts.
Audit Discoveries and Known Issues:
Bug reports covering previously-discovered bugs are not eligible for any reward through the bug bounty program. If a bug report covers a known issue, it may be rejected together with proof of the issue being known before escalation of the bug report via Immunefi.
Previous audits and known issues can be found at:
- https://leastauthority.com/blog/audits/audit-of-keep-network-tbtc-bridge-v2/ - tBTC Bridge
- https://www.certik.com/projects/threshold-network
- https://chainsecurity.com/security-audit/threshold-network/
- https://github.com/Thesis-Defense/Security-Audit-Reports/blob/main/PDFs/240411_Thesis_Defense-Threshold_tBTC_Base_Smart_Contracts_Security_Audit_Report.pdf - Base Smart Contracts
- StarkNet Smart Contracts Audit
- Sui Smart Contracts Audit
- https://github.com/threshold-network/token-dashboard/issues
- https://github.com/threshold-network/solidity-contracts/issues
- https://github.com/keep-network/tbtc-v2/issues (refers to known issues related to tBTC v2 contracts)
- https://drive.google.com/file/d/1v3_EieK-Z3VffMkireF0TIsjUL0V7qHm/view?usp=sharing (StarkNet Smart Contracts Audit) -https://drive.google.com/file/d/1dWJIpHeLqPhkiGFR-F89FMgJjZv2GOnV/view?usp=sharing (Sui Smart Contracts Audit)
Program Overview
For more information about Threshold Network, please visit https://threshold.network/
For Whitehats: It is highly recommended that you review the details of this program in full. Although many Bug Bounty programs have standard terms and conditions, each also has their own unique details that are critical to your success.
Prior to submitting a report please review the Immunefi Bug Report Template and Best Practices.
Audits
Known Issues
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 2: Notice 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.