Celo Audit Competition Reward Terms

Whitehat Reward Pool

Rewards are denominated in USD and distributed in a stablecoin.

Rewards are distributed all at once after the competition has ended. No rewards are distributed during the competition.

The reward pool is $50,000 USD and will be fully distributed among whitehat participants in the form of cUSD

This Audit Competition has an audit running in parallel. Bugs in the audit report that aren't disclosed pre-launch are valid for rewards. 

Reward Pool Distribution Formula

Whitehat rewards are earned based on the severity of each bug found, in a Sybil-resistant manner.

The chief finder of each bug earns bonus points (worth 10% of that bug’s rewards). The chief finder is the first person to prove the greatest severity level of the bug.

LowBugPoints = 0.9 * (0.9 ^ (NumberOfFinders - 1)) / NumberOfFinders

ChiefFinder_LowBugBonus = 0.1 * (0.9 ^ (NumberOfFinders - 1))

MediumBugPoints = 2.7 * (0.9 ^ (NumberOfFinders - 1)) / NumberOfFinders

ChiefFinder_MediumBugBonus = 0.3 * (0.9 ^ (NumberOfFinders - 1))

HighBugPoints = 8.1 * (0.9 ^ (NumberOfFinders - 1)) / NumberOfFinders

ChiefFinder_HighBugBonus = 0.9 * (0.9 ^ (NumberOfFinders - 1))

CriticalBugPoints = 32.4 * (0.9 ^ (NumberOfFinders - 1)) / NumberOfFinders

ChiefFinder_CriticalBugBonus = 3.6 * (0.9 ^ (NumberOfFinders - 1))

A whitehat’s portion of the reward pool is equivalent to their percentage of all whitehat points earned.

Whitehat_A_RewardPoolPortion = (Whitehat_A_Points / AllWhitehatsPoints) * (RewardPool)

Rewards for Insight Reports

If one or more Insights and at least one Critical, High, or Medium severity bug is found then the following percent of the reward pool is allocated to Insights:

• 1 - 4 unique bugs found = 10%
• 5 - 9 unique bugs found = 5%
• 10+ unique bugs found = 3%

Insights are not intended to earn more than valid bugs, so in such cases where this would occur the percent of the reward pool allocated to Insights may be reduced at Immunefi’s discretion. The remaining portion of the reward pool is distributed according to the reward pool distribution formula.

• If only Insights [no valid bugs] are found, then the reward that is unlocked is fully distributed among those Insights [25% of the largest reward pool or $50k, whichever is lower].

Duplicates of Insight reports are not eligible for a reward. 

Final Notes

• More information about severities and Insight reports can be found in Immunefi's Severity Classification System.
  
  
• Whitehats may provide more info to upgrade the severity of their bug reports until the Audit Competition ends.

• If a bug found during the event requires an immediate fix, it will be considered a publicly known issue as soon as the fix is deployed. Future submissions of the same bug will be considered invalid. 

• Rewards will be distributed all at once after the Audit Competition has ended. No rewards are distributed during the Audit Competition.

• Audit Competition reward distribution terms may change at Immunefi’s discretion to prevent unintended results and abuse by not-so-whitehats.