SherlockSherlock Yield Strategy Bug Bounty Post-Mortem
Sherlock Yield Strategy Bug Bounty Post-MortemNOTE FOR SHERLOCK LIQUIDITY PROVIDERS: This type of bug bounty payout does not impact any of the staking pool, and all staked funds used for Sherlock coverage remain unaffected.OverviewOn July 14th, 2022, GothicShanon89238 reported an issue to Sherlock through Immunefi concerning Sherlock's yield strategy integration with Euler. The issue has since been fixed.No funds were immediately at risk, but the issue could eventually have resulted in a...
SherlockWhat is Sherlock?
TL;DRSherlock is a new type of security solution for protocol teams. Sherlock provides teams with all the tools they need to securely launch decentralized apps:Audits from leading security firms and independent security expertsBug bounty paid for by SherlockSmart contract coverage for on-chain exploitsWith these tools, protocol teams are set up for success and can get back to building. Even further, the users of those protocols can sleep easier knowing there is recourse even if a bug slips th...
SherlockSecurity Expert Guide
This is the quick start guide for security experts interested in competing for $50k+ prize pools in Sherlock’s next-generation audit model.For the full details, check out the Audit section of the Sherlock docs.Good news: If you’ve competed in Code Arena in the past, this experience will be quite familiar. However, there are some differences:Only Medium and High severity bugs are rewardedThe top 10% on Sherlock’s leaderboard are eligible to be Lead Senior Watsons with $10k guaranteed pay per a...
SherlockSherlock Yield Strategy Bug Bounty Post-Mortem
Sherlock Yield Strategy Bug Bounty Post-MortemNOTE FOR SHERLOCK LIQUIDITY PROVIDERS: This type of bug bounty payout does not impact any of the staking pool, and all staked funds used for Sherlock coverage remain unaffected.OverviewOn July 14th, 2022, GothicShanon89238 reported an issue to Sherlock through Immunefi concerning Sherlock's yield strategy integration with Euler. The issue has since been fixed.No funds were immediately at risk, but the issue could eventually have resulted in a...
SherlockWhat is Sherlock?
TL;DRSherlock is a new type of security solution for protocol teams. Sherlock provides teams with all the tools they need to securely launch decentralized apps:Audits from leading security firms and independent security expertsBug bounty paid for by SherlockSmart contract coverage for on-chain exploitsWith these tools, protocol teams are set up for success and can get back to building. Even further, the users of those protocols can sleep easier knowing there is recourse even if a bug slips th...
SherlockSecurity Expert Guide
This is the quick start guide for security experts interested in competing for $50k+ prize pools in Sherlock’s next-generation audit model.For the full details, check out the Audit section of the Sherlock docs.Good news: If you’ve competed in Code Arena in the past, this experience will be quite familiar. However, there are some differences:Only Medium and High severity bugs are rewardedThe top 10% on Sherlock’s leaderboard are eligible to be Lead Senior Watsons with $10k guaranteed pay per a...
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Hey everyone!
Thanks again for your support in helping Sherlock get the mainnet launch off of the ground.
The last 5 months have been extremely successful and Sherlock would not have been able to do it without all of your support. We are very grateful!
The 6-month staking period for the V1 ends on March 21st.
Stakers in the V1 have two choices:
Roll funds into the V2 staking + fundraise event.
Unstake funds from Sherlock entirely.
Option #1
If you want to roll funds into the V2 staking + fundraise event, it is VERY IMPORTANT to activate the cooldown on V1 funds before February 28th, 2022.
This will allow you to unstake the V1 funds after 7 days and you will be able to participate in the V2 event which begins March 7th. Details of the March 7th raise and the method for participating can be found here.
One piece of caution is that there is only a 48-hour window to unstake funds (after the 7-day cooldown) so definitely set a reminder!
Unfortunately there is not an easier way to roll staked funds into the V2 staking + fundraise event.
Another important caveat is that the March 7th staking + fundraise event is first-come, first-serve. This means that if you aren’t in the first 100M USDC to be staked into the V2, you will miss the staking + fundraise event and need to stake into the V2 normally, for lower rewards, or not restake at all.
Hey everyone!
Thanks again for your support in helping Sherlock get the mainnet launch off of the ground.
The last 5 months have been extremely successful and Sherlock would not have been able to do it without all of your support. We are very grateful!
The 6-month staking period for the V1 ends on March 21st.
Stakers in the V1 have two choices:
Roll funds into the V2 staking + fundraise event.
Unstake funds from Sherlock entirely.
Option #1
If you want to roll funds into the V2 staking + fundraise event, it is VERY IMPORTANT to activate the cooldown on V1 funds before February 28th, 2022.
This will allow you to unstake the V1 funds after 7 days and you will be able to participate in the V2 event which begins March 7th. Details of the March 7th raise and the method for participating can be found here.
One piece of caution is that there is only a 48-hour window to unstake funds (after the 7-day cooldown) so definitely set a reminder!
Unfortunately there is not an easier way to roll staked funds into the V2 staking + fundraise event.
Another important caveat is that the March 7th staking + fundraise event is first-come, first-serve. This means that if you aren’t in the first 100M USDC to be staked into the V2, you will miss the staking + fundraise event and need to stake into the V2 normally, for lower rewards, or not restake at all.
Option #2
If you want to withdraw from Sherlock entirely, you should wait until March 14th or later to activate the cooldown. This will allow you to unstake the funds from the V1 on March 21st (6 months after the original stake) and remove them from the Sherlock protocol.
In either situation, you will need to know how to activate the cooldown and unstake.
Step 1: Make sure your wallet is connected. You’ll see green digits in the top right of the screen if your wallet is connected.
Step 2: Click on “USD Coin” in the “Staking Pools” section of the app.
Step 3: Click the “Cooldown” button.
Step 4: Approve the amount you want to cooldown.
Step 5: Click “Activate Cooldown” once you’ve chosen the amount to cooldown.
Note: There was a persistent bug in the UI that caused an error to pop up when “MAX” was selected. If that’s an issue, the work-around is to remove the decimal places of number (like the screenshot below). This bug should be fixed by the time you read this. If you experience it, please send us a note at contact@sherlock.xyz.
Step 6: Set a reminder for 7 days from now to unstake. You should see your position in a new category in the app called “Funds in Cooldown.” You will be able to unstake once the “Earliest Unstake” counts down to 0.
Step 7: Take the USDC that you’ve unstaked and wait until the March 7th staking + liquidity event opens. Instructions for participating in that event can be found here.
Note: The app.sherlock.xyz address will switch from hosting the V1 to hosting the V2 a few hours before the March 7th event begins. If you need to go back to the V1 for any reason, you can find it at this link (v1.sherlock.xyz).
What if I miss the Feb 28th cooldown?
You can either withdraw funds from Sherlock entirely or participate in normal staking, which will likely have lower rewards than the March 7th staking + liquidity event.
When do I get the SHER tokens from the V1 staking?
The SHER tokens earned from V1 staking will be distributed directly by the Sherlock multi-sig.
The distribution schedule is as follows:
50% of the earned SHER tokens will be distributed on September 21st 2022.
50% of the earned SHER tokens will be distributed on September 21st 2023.
How many SHER tokens will I receive from the V1 staking?
In order to calculate how many SHER tokens you will receive based on your V1 participation, take the amount of USDC you staked (i.e. 1,000,000) and divide it by 30,000,000 (the size of the V1 staking pool), then multiply it by 7,500,000 (the amount of SHER tokens rewarded to V1 stakers).
Option #2
If you want to withdraw from Sherlock entirely, you should wait until March 14th or later to activate the cooldown. This will allow you to unstake the funds from the V1 on March 21st (6 months after the original stake) and remove them from the Sherlock protocol.
In either situation, you will need to know how to activate the cooldown and unstake.
Step 1: Make sure your wallet is connected. You’ll see green digits in the top right of the screen if your wallet is connected.
Step 2: Click on “USD Coin” in the “Staking Pools” section of the app.
Step 3: Click the “Cooldown” button.
Step 4: Approve the amount you want to cooldown.
Step 5: Click “Activate Cooldown” once you’ve chosen the amount to cooldown.
Note: There was a persistent bug in the UI that caused an error to pop up when “MAX” was selected. If that’s an issue, the work-around is to remove the decimal places of number (like the screenshot below). This bug should be fixed by the time you read this. If you experience it, please send us a note at contact@sherlock.xyz.
Step 6: Set a reminder for 7 days from now to unstake. You should see your position in a new category in the app called “Funds in Cooldown.” You will be able to unstake once the “Earliest Unstake” counts down to 0.
Step 7: Take the USDC that you’ve unstaked and wait until the March 7th staking + liquidity event opens. Instructions for participating in that event can be found here.
Note: The app.sherlock.xyz address will switch from hosting the V1 to hosting the V2 a few hours before the March 7th event begins. If you need to go back to the V1 for any reason, you can find it at this link (v1.sherlock.xyz).
What if I miss the Feb 28th cooldown?
You can either withdraw funds from Sherlock entirely or participate in normal staking, which will likely have lower rewards than the March 7th staking + liquidity event.
When do I get the SHER tokens from the V1 staking?
The SHER tokens earned from V1 staking will be distributed directly by the Sherlock multi-sig.
The distribution schedule is as follows:
50% of the earned SHER tokens will be distributed on September 21st 2022.
50% of the earned SHER tokens will be distributed on September 21st 2023.
How many SHER tokens will I receive from the V1 staking?
In order to calculate how many SHER tokens you will receive based on your V1 participation, take the amount of USDC you staked (i.e. 1,000,000) and divide it by 30,000,000 (the size of the V1 staking pool), then multiply it by 7,500,000 (the amount of SHER tokens rewarded to V1 stakers).
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