UTIX is a decentralized, event hosting and e-ticketing platform that utilizes blockchain based smart contracts to bring control to the community.


The main purpose of this bug bounty program is to help identify a way to unlock funds that are stuck in our smart contract.

Unlocking stuck funds

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 25% of the funds directly affected up to a maximum of USD 500 000. 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 25 000 is to be rewarded in order to incentivize security researchers against withholding a bug report.   
There are currently 800 000 USD locked in the smart contract and a minimum payout of 25,000 USD will be provided if 25% of the funds can be successfully recovered. The payout amount will be scaled up proportionally to 500,000 USD for 100% recovery of the funds.

__Repeatable Attack Limitations__

In cases of repeatable attacks for smart contract bugs, only the first attack will be counted, regardless of whether the smart contract is upgradable, pausable, or killable.

__Proof of Concept (PoC) Requirements__

A PoC is required for the following severity levels:
- Smart Contract - Critical - PoC Required

All PoCs submitted must comply with the Immunefi-wide [PoC Guidelines and Rules.](https://immunefisupport.zendesk.com/hc/en-us/articles/9946217628561-Proof-of-Concept-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__

Payouts are handled by the Utix team directly and are denominated in USD. However, payments are done in ETH. 

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. For avoidance of doubt, if the reward amount is USD 5 000 and the average price is USD 1.75 per token, then the reward will be 2857.142857 units of that token.