Archimedes partners with Immunefi on a Bug Bounty of up to $150K
Archimedes has just launched a $150,000 bug bounty with Immunefi, the premier bug bounty platform for smart contracts and DeFi projects.
This program comes to strengthen Archimedes’ safety. Our smart contracts have been reviewed and will continue to be reviewed by Halborn Secruity, with additional audits being worked on. With the partnership with Immunefi for the bug bounty program, we are happy to incentivize community members to report any bugs they find in Archimedes’ smart contracts.
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.2. This is a simplified 5-level scale, with separate scales for websites/apps, smart contracts, and blockchains, focusing on the impact of the vulnerability reported. The payouts are listed below.
Smart Contracts and Blockchain
Critical: Up to $150,000
Please refer to the official terms of the bug bounty here.
Launched on December 9, 2020, Immunefi is the premier bug bounty platform focused on Web3 security, including blockchains, NFT projects, smart contracts. Immunefi provides bug bounty hosting and consultation services to blockchain and smart contract projects. Bug bounty programs are open invitations to security researchers to discover and disclose potentially vulnerabilities in projects’ smart contracts and applications, thereby protecting projects and their users.
Archimedes is an experimental lending and borrowing platform. We build it on top of AMMs such as Curve. We enable: (1) Lenders (Liquidity Providers) to earn sustainable higher APYs; (2) Borrowers (Leverage Takers) to earn up to 10x yield on yield-bearing stablecoins.
Liquidity Providers provide assets to Archimedes 3CRV/lvUSD pools and receive interest. The protocol pays interest in different assets, such as ARCH tokens and stablecoins. Most Curve pools depend on temporary bribes and uncertain gauge allocations for APY. But, Archimedes ARCH rewards have innate utility and a fixed supply.
Leverage Takers borrow from these pools to create leveraged positions on appreciating meta-vaults (like OUSD). Archimedes wrap each leveraged position with an NFT. User can trade these NFTs without the need to unwind the position.
To learn more, you can connect with us on Twitter, Discord, and Telegram.