Kelp DAO Bug Bounty Program

Kelp DAO is a multichain liquid restaking platform with $1B+ in TVL.

Rewards

Kelp DAO provides rewards in USDC on Ethereum, denominated in USD.

Rewards by Threat Level

Smart Contract

• Critical: Max $250,000 / Min $100,000
• High: Max $100,000 / Min $50,000
• Medium: Max $50,000 / Min $11,000
• Low: Flat $10,000

Websites and Applications

• Critical: Max $25,000 / Min $10,000
• High: Flat $5,000
• Medium: Flat $2,500
• Low: Flat $1,000

Critical Reward Calculation

Mainnet assets: Reward amount is 10% of the funds directly affected up to a maximum of $250,000.

Minimum reward to discourage security researchers from withholding a bug report: $100,000

Critical Reward Calculation for High Level Reports

High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of USD 50,000 to USD 100,000 depending on the funds at risk, capped at the maximum high reward.

Critical Reward Calculation for Medium Level Reports

Medium vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of USD 11,000 to USD 50,000 depending on the funds at risk, capped at the maximum medium reward.

In the event of temporary freezing, the reward doubles from the full frozen value for every additional 24 hours 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.

For critical web/apps bug reports will be rewarded with USD 100,000, only if the impact leads to:

• A loss of funds involving an attack that does not require any user action
• Private key or private key generation leakage leading to unauthorized access to user funds

All other impacts that would be classified as Critical would be rewarded a flat amount of USD 20,000. The rest of the severity levels are paid out according to the Impact in Scope table.

Reward Payment Terms

Payouts are handled by the Kelp DAO team directly and are denominated in USD. However, payments are done in USDC on Ethereum.

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.

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.

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.

Eligibility

KYC Requirement

Kelp DAO 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

Primacy of Impact vs Primacy of Rules

Kelp DAO adheres to the Primacy of Rules, which means that the whole bug bounty program is run strictly under the terms and conditions stated within this page.

Proof of Concept (PoC) Requirements

A PoC, demonstrating the bug's impact, is required for this program and has to comply with the Immunefi PoC Guidelines and Rules.

Previous Audits

Kelp DAO's completed audit reports can be found at https://kelp.gitbook.io/kelp/audits. Any unfixed vulnerabilities mentioned in these reports are not eligible for a reward.

Disclosure Guidelines

Responsible Publication

Category 3: Approval 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:

• Chain Rollbacks
• Pre-Impact Bug Monitoring
• Attack Investment Amount
• Attacks With A Financial Risk To The Attacker
• When Is An Impactful Attack Downgraded To Griefing?