Variational

Variational Omni is designed to be a simple platform for day traders to access perps across a massive universe of underlyings. Omni offers seamless trading of leveraged, permissionless perps. Traders have the ability to take long or short positions on nearly 500 assets, many of which have no other perp listings.

The Omni app is built on top of the Variational protocol, which is infrastructure for the peer-to-peer trading, clearing, and settlement of perpetuals and generalized derivatives. Variational automates all aspects of the trade end-to-end for safe bilateral trading of options, futures, perpetuals, and more. Omni is the first application built on top of this protocol, with many more (such as Pro) coming in the future.

Rewards

Variational provides rewards in USDC on Arbitrum, denominated in USD.

Rewards by Threat Level

Smart Contract

• Critical: Max $100,000 / Min $10,000 (Primacy of Impact)
• High: Max $25,000 / Min $3,500 (Primacy of Rules)
• Medium: Flat $3,500 (Primacy of Rules)

Websites and Applications

• Critical: Max $50,000 / Min $10,000 (Primacy of Impact)
• High: Flat $10,000 (Primacy of Rules)
• Medium: Flat $2,000 (Primacy of Rules)
• Low: Flat $1,000 (Primacy of Rules)

Critical Reward Calculation

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: $10,000.

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 10,000 is to be rewarded in order to incentivize security researchers against withholding a critical bug report.

For critical web/apps bugs, reports will be rewarded with USD 50,000, 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 10,000.

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.
• The amount of funds at risk will be calculated with the impact of the first attack being at 100% and then a reduction of 25% from the amount of the first attack for every 300 blocks the attack needs for subsequent attacks from the first attack, rounded down.

Reward Calculation for High Level Reports

High impact concerning theft/permanent freezing of unclaimed yield/royalties are rewarded within a range of USD 3,500 - USD 25,000 with the reward calculated based on 100% of the funds at risk, though 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.

Reward Payment Terms

Payouts are handled by the Variational team directly and are denominated in USD. However, payments are done in USDC on Arbitrum.

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.

KYC Requirement

Variational 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
• Photo of self with passport and holding piece of paper with username/handle and date

Eligibility Criteria

Security researchers who wish to participate must adhere to the rules of engagement set forth in this program and cannot be:

• On OFAC's SDN list and restricted persons list
• Official contributor, both past or present
• Employees and/or individuals closely associated with the project
• Security auditors that directly or indirectly participated in the audit review

Responsible Publication

Variational adheres to Category 3: Approval Required. This Policy determines what information researchers are allowed to make public from their submitted bug reports.

Primacy of Impact vs Primacy of Rules

Variational 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.

Variational adheres to the Primacy of Impact for the following impacts:

• Smart Contract — Critical - Direct theft of funds
• Website & Application — Critical - Direct theft of funds

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.

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

Variational's completed audit reports can be found at https://docs.variational.io/technical-documentation/security-and-audits. Any unfixed vulnerabilities mentioned in these reports are not eligible for a reward.

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.