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Morpho's First Security Competition, Hosted by Cantina

Morpho's First Security Competition, Hosted by Cantina

morphomorpho2023/11/19 15:12
By:Morpho

Morpho Labs has teamed up with Cantina for the inaugural security review competition hosted on their new platform built by security researchers for security researchers.

The competition at a glance:

  • November 13th 10:00 UTC to December 4th 10:00 UTC

  • $200k total prize pool

  • 3000 lines of immutable code

The scope includes Morpho Blue , MetaMorpho , and their relevant peripheries, which we will dive into further detail below.

Not only is this competition a first of its kind for Morpho, Cantina, and the community, but it also brings us one step closer to the launch of Morpho Blue on Mainnet.

Morpho Blue and MetaMorpho

Morpho Blue and MetaMorpho form part of the vision to rebuild decentralized lending in layers, with MetaMorpho enabling any lending experience to be rebuilt on a shared and immutable base layer: Morpho Blue.

Morpho Blue is a trustless lending primitive that offers unparalleled efficiency and flexibility. It enables the creation of isolated lending markets by specifying any loan asset, any collateral asset, a liquidation LTV (LLTV), an oracle, and an interest rate model.

MetaMorpho is a protocol for lending vaults built on Morpho Blue. Anyone can create a vault that allocates to multiple Morpho Blue markets. Each vault is curated to provide suppliers with tailored risk exposures, better yields, and greater transparency.

For more information visit the documentation hub .

The scope

The scope includes ~3000 LOC consisting of the core contracts for Morpho Blue and MetaMorpho plus the Interest Rate Model (IRM), Oracle implementation, bundler contracts, rewards distributor, and ERC20 gated wrappers:

  1. Morpho Blue — 847 LOC

  2. Morpho Blue IRM — 134 LOC

  3. Morpho Blue Oracles — 92 LOC

  4. MetaMorpho — 642 LOC

  5. Morpho Blue Bundlers — 983 LOC

  6. Universal Rewards Distributor — 181 LOC

  7. ERC20Permissioned — 55 LOC

Prize distribution and scoring

Of the total prize pool, $100k is allocated to the Morpho Blue core contract, with the remaining $100k assigned to the rest of the scope.

The prize distribution works as follows:

  • Security reviewers will score points for each finding.

  • Prizes are distributed proportionally to the number of points scored.

  • A High Severity is worth 9 points, and a Medium Severity 3 points.

  • Duplicate findings will be resolved using a scoring formula that incentivizes unique findings.

  • 10% of the prize pot is reserved for Low Severity or informational findings that will be ranked and awarded on a curve.

All details on the scoring formula will be available on the Cantina competition page before going live. Cantina is also hosting a live code walkthrough this Thursday at 6.00 PM CEST.

Remember, you need an invitation to join the Morpho security competition. So, reach out to Merlin to get an invite if you are interested in participating!

To stay up to date with Morpho and future announcements, follow Morpho Labs.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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