Granite Protocol
Bounty Range
$1,000 - $100,000
external program
Granite Protocol
The Granite Protocol is an autonomous Bitcoin liquidity protocol where users can participate as liquidity providers, borrowers, or liquidators.
The Granite Protocol is an autonomous Bitcoin liquidity protocol where users can participate as liquidity providers, borrowers, or liquidators.
The protocol allows borrowers to take stablecoin loans using Bitcoin as collateral, without exposure to counterparty or rehypothecation risk. Liquidity providers can earn yield on stablecoins by providing liquidity to the pool, which is then lent to borrowers.
Loans in Granite are best thought of as lines of credit, without set terms or repayment schedules. As long as the borrower maintains an adequate loan-to-value ratio (LTV), keeping their account in good health, they are not subject to liquidation. If a borrower's LTV falls too low, a portion of their capital will be liquidated to bring their account back to a health state.
Granite enables BTC users to access DeFi without centralized custodians by leveraging Stacks' Nakamoto upgrade and sBTC Bitcoin bridge.
For more information about Granite Protocol, please visit https://www.granite.world/
Granite Protocol provides rewards in USDC on Ethereum, denominated in USD.
Smart Contract
| Severity | Max | Min |
|---|---|---|
| Critical | $100,000 | $25,000 |
| High | $25,000 | $5,000 |
| Medium | $2,500 | $2,500 |
| Low | $1,000 | $1,000 |
Websites and Applications
| Severity | Max | Min |
|---|---|---|
| Critical | $25,000 | $10,000 |
| High | $10,000 | $5,000 |
| Medium | $5,000 | $1,000 |
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.
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 25,000 is to be rewarded in order to incentivize security researchers against withholding a critical bug report.
If the smart contract where the vulnerability exists can be upgraded or paused, only the initial attack will be considered for a reward. This is because the project can mitigate the risk of further exploitation by upgrading or pausing the component where the vulnerability exists. The reward amount will depend on the severity of the impact and the funds at risk.
For critical repeatable attacks on smart contracts that cannot be upgraded or paused, the project will consider the cumulative impact of the repeatable attacks for a reward. This is because the project cannot prevent the attacker from repeatedly exploiting the vulnerability until all funds are drained and/or other irreversible damage is done. Therefore, this warrants a reward equivalent to 10% of funds at risk, capped at the maximum critical reward.
High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of USD 5,000 to USD 25,000 depending on the funds at risk, 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. This is because as the duration of the freezing lengthens, the potential for greater damage and subsequent reputational harm intensifies. Thus, by increasing the reward proportionally with the frozen duration, the project ensures stronger incentives for bug disclosure of this nature.
Payouts are handled by the Granite Protocol team directly and are denominated in USD. However, payments are done in USDC on Ethereum or USDCx on Stacks.
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.
This bug bounty program will have a hard cap of USD $1,000,000. If multiple bug reports are submitted that exceed this amount, the rewards will be provided on a first come first served basis until that cap is reached.
Granite Protocol adheres to category 2 - Notice Required. This Policy determines what information researchers are allowed to make public from their submitted bug reports. For more information about the category selected, please refer to the Responsible Publication page.
Granite Protocol adheres to the Primacy of Impact for the following levels:
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.
A PoC, demonstrating the bug's impact, is required for this program and has to comply with the Immunefi PoC Guidelines and Rules.
Proof of concept is always required for all severities.
Bug reports covering previously-discovered issues (listed below) are not eligible for a reward within this program. This includes known issues that the project is aware of but has consciously decided not to "fix", necessary code changes, or any implemented operational mitigating procedures that can lessen potential risk.
Liquidation risk from soft liquidations
Liquidation risk incurred through dynamic soft liquidations will be managed by ecosystem liquidators and by enabling public participation in liquidations through a Liquidations page.
Automated testing framework
In development.
Input validation on Governance Functions
We assume that governance members will validate any action before execution: input validation on the governance side is out of scope. Additionally, a malicious takeover of governance is excluded from the scope of this audit.
Deployment parameter validation
Issues related to deployment parameter validation fall under incorrect deployment or deployment best practices. Ensuring proper contract deployment and initialization is a fundamental responsibility of any blockchain-based protocol.
References to non-existent smart contract methods
Issues referencing methods that do not exist in the latest version of the smart contract are out of scope. The audit covers only the most recent code, older versions or deprecated versions are excluded by default.
Granite Protocol's completed audit reports can be found at https://github.com/GraniteProtocol/audits. Any unfixed vulnerabilities mentioned in these reports are not eligible for a reward.
Stacks Pyth Bridge's completed audit reports can be found at https://github.com/Trust-Machines/stacks-pyth-bridge/tree/clarity-v3/audits. Any unfixed vulnerabilities mentioned in these reports are not eligible for a reward.
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.
No KYC information is required for payout processing.