Tokemak is a decentralized liquidity providing/market making protocol designed to create efficient, sustainable liquidity across DeFi.

Crosschain Liquidity
Liquid Staking
Yield Aggregator
Maximum Bounty
Live Since
24 August 2021
Last Updated
08 April 2024
  • PoC required

Submit a Bug

Rewards by Threat Level

Smart Contract
Up to USD $250,000
USD $20,000
USD $5,000
Websites and Applications
USD $20,000

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 and smart contracts/blockchains, encompassing everything from consequence of exploitation to privilege required to likelihood of a successful exploit.

All bug reports are required to come with a PoC. A suggestion for a fix is also required for all severity levels.

Critical smart contract vulnerabilities are further capped at 10% of economic damage, primarily taking into consideration funds at risk, but also PR and marketing considerations, at the discretion of the team. However, there is a minimum reward of USD 50 000. Rewards for critical smart contract bugs have the potential to be paid out over time at $50k USD value per month.

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. Smart contracts bug reports are required to include a runnable PoC in order to prove impact. Exceptions may be made in cases where the vulnerability is objectively evident from simply mentioning the vulnerability and where it exists. However, the bug reporter may be required to provide a PoC at any point in time.

Attacks caused by rebase tokens, fee-on-transfer tokens or non-standard ERC20 tokens are out of scope unless a reactor has been created for that token by Tokemak and configured for deployment.

Attacks caused by data conditions that require privileged access to a contract to set, but are not already in a current and deployed version of the contract are capped at a Medium payout level.

Any vote manipulations are considered at max a High vulnerability.

Payouts are handled by the Tokemak team directly and are denominated in USD. However, payouts are done in ETH, TOKE, or stablecoins, at the discretion of the team.

Program Overview

Tokemak is a decentralized liquidity providing/market making protocol designed to create efficient, sustainable liquidity across DeFi.

Liquidity providers deposit assets into their respective ”token reactors” (e.g. ALCX, SNX, FXS, etc.). Tokemak’s native protocol token, TOKE, is used to direct liquidity for each asset into DeFi markets such as Uniswap, Sushiswap, Balancer and Curve. TOKE can be thought of as tokenized liquidity. When staking to a given asset’s token reactor, TOKE holders control not only where the liquidity gets directed, but also what market receives liquidity, pulling from Tokemak’s reserves of ETH and Stablecoins.

For more information about Tokemak, please visit and

This bug bounty program is focused on their smart contracts, website, and application, and is focused on preventing the following impacts:

  • Thefts and freezing of principal of any amount
  • Thefts and freezing of unclaimed yield of any amount
  • Theft of governance funds
  • Redirected funds by address modification
  • Users spoofing other users

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.