Immunefi announced last Monday, August 9, through its Twitter account, that Fei Protocol will offer a new additional reward for Immunefi. According to the company, Fei Protocol is running a special (additional) bug bounty program focused on its new TribalChief smart contract.
“The objective of the Fei Protocol is to maintain a liquid market in which ETH / FEI is trading close to the ETH / USD price. FEI achieves this by using protocol-driven value to actively market the brand and advocate for linkage across DeFi. Governance can add and update DEX integrations and other incentives as needed, which uses the TRIBE governance token”, he said through an article posted on his website.
The company explained that in addition to its core bug bounty program, Fei Protocol is running a special bug bounty program focused on its new TribalChief smart contract. It is a fork of Sushiswap MasterChef that also includes a lockout feature where users can earn a higher reward multiplier. Unlike its main bug bounty program, rewards for high vulnerabilities are up to $100,000 and for critical vulnerabilities up to $250,000.
Rewards by threat level
According to the company, the rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System. This is a simplified 5-level scale, with separate scales for websites / applications and smart contracts / blockchains, covering everything from the consequence of the exploitation to the required privilege and the probability of a successful exploit.
Similarly, bug reports found in the Consensys Diligence audit that have not yet been patched are not eligible for a reward.
“Payments are handled directly by the Fei Labs team and are denominated in USD. However, payments are made in TRIBE or FEI. For low and medium threat levels, payments can alternatively be in ETH or USDC”, he added.