Templar Protocol
Bounty Range
$1,000 - $100,000
external program
Templar Protocol
Templar's goal is to allow anyone to borrow Bitcoin, or any asset, without trusting centralized institutions. Current BTC lending solutions require users to surrender their Bitcoin to a centralized custodian, like Coinbase, creating risks of seizure, censorship, and counterparty failure, like what happened with BlockFi and Celsius.
Templar's Cypher Lending Protocol solves this by using multi-party computation (MPC) networks and open-source smart contracts built on NEAR, ensuring that borrowers retain full control of their collateral without the need for trusted third parties (TTPs).
For more information about Templar, please visit https://www.templarfi.org/
Templar Protocol provides rewards in USDC on Ethereum, denominated in USD.
Smart Contract
Mainnet assets:
Reward amount is 10% of the funds directly affected up to a maximum of $100,000.
Minimum reward to discourage security researchers from withholding a bug report: $50,000
Reward Calculation for Critical Level Reports
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 $50,000 is to be rewarded in order to incentivize security researchers against withholding a critical bug report.
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.
Reward Calculation for High Level Reports
High vulnerabilities concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of $5,000 to $10,000 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.
Reward Payment Terms
Payouts are handled by the Templar team directly and are denominated in USD. However, payments are done in USDC on 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.
Templar will be requesting KYC information in order to pay for successful bug submissions. The following information will be required:
Security researchers who wish to participate must adhere to the rules of engagement set forth in this program and cannot be:
Templar adheres to Category 2: Notice Required. This Policy determines what information researchers are allowed to make public from their submitted bug reports.
Templar adheres to the Primacy of Impact for the following impacts:
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.
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.
Templar's completed audit reports can be found at https://github.com/Templar-Protocol/contracts/tree/dev/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.