Badger DAO x Armor Alliance Big Bug Bounty Challenge

Published on: 19.05.2021

Badger DAO has joined Armor’s Big Bug Bounty Challenge with Immunefi in their continued commitments to create a secure ecosystem for its users.

The DAO’s debut products are Sett, a yield aggregator, and Digg, a BTC-pegged elastic supply currency. Its components include:

Badger DAO — The governance of Badger Finance is managed via an Aragon DAO with a liquid governance token.
Sett — The debut yield aggregator product of the DAO, focused on innovating on the best bitcoin-related yield strategies.
Digg — A BTC-pegged elastic supply currency, based on the Ampleforth protocol.
Token Distribution — The Badger governance token ($BADGER) and the Digg token ($DIGG) will be initially distributed via airdrops for users who have demonstrated an active interest in Bitcoin DeFi and community governance, early contributors to the DAO, and as staking rewards for participation in Sett.
Assistants — Traditional backend services to provide necessary updates to the system. These include oracles, keepers, and system monitors

The bug bounty program (see here on Immunefi and here in the Badger Gitbook) is focused on its smart contracts and is mostly concerned with the loss of user funds and is further secured by the Armor Alliance Bug Bounty Challenge.

🔸Rewards by Threat Level

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/apps and smart contracts/blockchains, encompassing everything from the consequence of exploitation to privilege required to the likelihood of a successful exploit.

🔸Rewards for critical payouts are capped at 10% of the funds at risk.

Payouts up to USD 500 000 are handled by the BadgerDAO team directly. Payouts are denominated in USD and are paid out in the reporter’s choice of BADGER, ETH, BTC, or a stablecoin (USDC, DAI, USDT).

Payouts above USD 500 000 have the remainder paid in ARMOR from the Armor Alliance Bug Bounty Challenge with a vesting period of up to 24 months.

What is Armor Finance?

Armor makes investing in DeFi as safe as possible with crypto-native, dynamic smart coverage aggregation. As a decentralized smart brokerage, Armor’s innovations provide on-demand, real-time coverage and non-custodial security solutions for user assets.

Armor’s focus is on building an ecosystem of interoperable protocols and products to secure and scale mass adoption of DeFi both with institutions and individuals.