Badger Finance is a community DAO, focused on bringing Bitcoin to DeFi. 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
The impact of the vulnerability, based on the Immunefi Vulnerability Severity Classification System will determine rewards. 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.
The BadgerDAO team handles payouts up to USD 500 000 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.
Bug bounty payouts will be related to the severity of the smart contract bugs discovered:
Smart Contracts and Blockchain
- Critical Level: up to USD $750,000
- High Level: up to USD $5,000
- Medium Level: up to USD $500
- Low Level: up to USD $250
Please see the dedicated Badger DAO page on Immunefi for all details about the program, including the Rules, what is Out of Scope & the Prioritized Vulnerabilities.
This is another major milestone in Armor’s quest to make DeFi safer for investors everywhere.