Twyne
Bounty Range
$3,000 - $50,000
external program
Twyne
Twyne is a modular risk layer that leverages credit-delegation to unlock new levels of capital efficiency in lending markets. Twyne empowers lending market users with the freedom to focus on their individual goals: lenders can re-lend, borrowers can re-borrow, and together they drive the emergence of new markets, ensuring capital flows to where it is needed most.
For more information about Twyne, please visit https://twyne.xyz/
Twyne 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 $50,000.
Minimum reward to discourage security researchers from withholding a bug report: $20,000
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.3.
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 50,000. 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 20,000 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 USD 10,000 to USD 3,000 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 Twyne 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.
Twyne is a modular risk layer that leverages credit-delegation to unlock new levels of capital efficiency in lending markets. Twyne empowers lending market users with the freedom to focus on their individual goals: lenders can re-lend, borrowers can re-borrow, and together they drive the emergence of new markets, ensuring capital flows to where it is needed most.
Twyne adheres to Category 2: Notice Required. This Policy determines what information researchers are allowed to make public from their submitted bug reports.
Twyne 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.
Proof of concept is always required for all severities.
Bug reports covering previously-discovered bugs (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.
Twyne inherits the assumptions of external lending markets it integrates. So security issues with Euler, for example, won't be considered for a bounty.
If the reserved credit amount after calling handleExternalLiquidation() is too small, debt may not be socialized and the entire batch will revert. Since these are small positions, it's fine. Protocol can pay intermediate vault on collateral vault's behalf.
Issues stemming from external lending protocol changing its liquidation ltv. We're bringing an upgrade to handle this soon.
No slippage check on liquidate() or handleExternalLiquidation(). Liquidators need to check for slippage on their side.
Credit reservation may fail if the intermediate vault doesn't have enough liquidity.
Issues related to chain re-orgs and network liveness
Incompatibilities with ERC-4626 and ERC-20 unless they pose a direct security risk
Issues related to censorship / frontrunning users that interact with Pyth and RedStone. We expect users to interact with the EVC or another multicall-like contract to update the price and retrieve it in a single call
Issues stemming from sequencer downtime on L2s, including but not limited to inexistent sequencer liveness checks
Any issue related to stuck funds for tokens that are airdropped to Twyne contracts
Any issue related to rewards accrued to Twyne contracts, example: rewards assigned by external lending protocol or integrations
Twyne's completed audit reports can be found at https://twyne.gitbook.io/twyne/resources/security. Any unfixed vulnerabilities mentioned in these reports are not eligible for a reward.
No KYC information is required for payout processing.
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
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.