Stable Rate Bug Bounty
01Summary
Pay ~$1,000,000 bug bounty to a white-hat researcher who discovered a critical stable borrow rate bug on November 4, 2023, plus $100,000 Immunefi fee. Payments consist of 500,000 aUSDT + 5,583 AAVE to white-hat and 100,000 aUSDT to Immunefi, all from Aave treasury.
- Type
- treasury allocation
- Funding
- $1,100,000
Key changes
- Transfer 500,000 aUSDT v2 Ethereum from Aave Ethereum Collector to white-hat researcher(high)
- Transfer 5,583 AAVE (~$500,000 USD at 30-day average price) from Aave Ecosystem Reserve to white-hat researcher(high)
- Transfer 100,000 aUSDT v2 Ethereum from Aave Ethereum Collector to Immunefi as 10% bug bounty platform fee(medium)
Generated by Kvorum
02Description
Simple Summary
Bug bounty payment for the report received on 4th November 2023 amounting a grant total of ~1'000'000 for the white hat splitted in stable-coins and AAVE, together with the $100'000 Immunefi fee (10% of the total).
Motivation
On the 4th of November 2023, a report was received via the Aave <> Immunefi bug bounty program about a critical bug related to the stable borrow rate.
Similar to any other valid bug reports, a bounty needs to be paid to the white-hat. However, being a critical severity one, we think it is reasonable to have an ad-hoc governance proposal for this type of sizeable payment.
Specification
The governance proposal executes the payment to 2 different recipients:
-> White-hat
- Transfer of 500'000 aUSDT v2 Ethereum from the Aave Ethereum Collector.
- Transfer of 5'583 AAVE (calculated to be $500'000 using a 30-days average) from the Aave Ecosystem Reserve. The amount has been determined following the recommendation of the financial service providers of the DAO HERE.
-> Immunefi
- Transfer of 100'000 aUSDT v2 Ethereum from the Aave Ethereum Collector.
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The proposal follows the standard Aave governance execution pattern: a single on-chain action that calls execute() on a dedicated payload contract deployed specifically for this proposal (address matches the linked 'AaveV3Ethereum_StableRateBugBounty' implementation referenced in the description). This is normal and expected for Aave proposals - the granular transfer logic (aUSDT to the white-hat and Immunefi, AAVE from the Ecosystem Reserve) lives inside that contract's bytecode rather than being individually decoded as separate proposal_action rows. Because only the top-level delegatecall is visible in the decoded calldata, I cannot independently verify the specific recipient addresses or exact amounts (500,000 aUSDT, 5,583 AAVE, 100,000 aUSDT) claimed in the description from the calldata alone. There is no evidence of a mismatch - the single decoded action is fully consistent with what one would expect for this type of payment proposal - but the lack of granular decoded sub-actions limits verification, so confidence is low rather than a discrepancy being flagged. No value, target, or omission issues are apparent given the information available, and the pattern (single payload execute() call) is routine for this contract type, so it should not be treated as a red flag by itself.
Generated by Kvorum
04Actions
- Target
- 0x0ebc…4da6
- Value
- 0 wei
- Function
- fallback()
- Arguments
{}- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
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