Bond Protocol
Summary
Bond Protocol is a permissionless bonds-as-a-service platform for DeFi, spun out of OlympusDAO's Olympus Pro product via a governance vote in mid-2022. In October 2022 — just weeks after its public launch — the protocol's Fixed-Expiry Teller smart contract was exploited for approximately $300,000 in OHM tokens due to a missing input validation vulnerability that had evaded three prior independent audits. The attacker ultimately returned all funds, the team underwent re-auditing with Zellic and Sherlock, and the protocol raised $2.5M in seed funding, though its TVL has since declined to minimal levels.
Connected Entities
1 entities · 10 linked investigationsTimeline(10 events)
2021-09-01
OlympusDAO launches Olympus Pro, the bonding-as-a-service marketplace that becomes the direct predecessor to Bond Protocol.
OlympusDAO Medium2022-07-15
Bond Protocol formally announced as a standalone entity spun out of OlympusDAO's Olympus Pro following OIP-104 governance vote approval.
Bond Protocol Medium2022-10-03
Bond Protocol dApp goes live on mainnet, offering permissionless bond market creation for any token pair.
Bond Protocol Medium2022-10-06
Bond Protocol announces a $2.5M seed round led by Chapter One and IDEO CoLab Ventures, with Alchemy Ventures and Hypersphere Ventures participating.
Bond Protocol Medium2022-10-21
Fixed-Expiry Teller smart contract exploited for 30,437 OHM (~$300,000). Attacker deploys counterfeit bond tokens and exploits missing input validation in the redeem() function. Funds are returned within hours following negotiation.
Bond Protocol Incident Report — Medium2022-10-21
Bond Protocol closes all Fixed-Expiry markets and begins working with Zellic on a full re-audit of the codebase.
Bond Protocol Incident Report — Medium2023-02-01
First Sherlock competitive audit of Bond Protocol conducted, covering new oracle-based auctioneers, fixed price auctioneer, Chainlink oracle, and batch auction wrapper contracts.
Sherlock Audit — GitHub2023-06-01
Second Sherlock competitive audit conducted, covering Bond Protocol's Options Liquidity Mining (OLM) system and related contracts.
Sherlock Audit — GitHub2023-10-01
Bond Protocol launches the DAOversified podcast focused on DAO treasury management and operations.
Bond Protocol — IQ.wiki2026-05-01
Bond Protocol TVL measured at approximately $75,900 on DeFiLlama, down sharply from peak activity levels in 2022-2023.
DeFiLlama — Bond ProtocolDecision Log
- hash: DywtDU994H7uzkJp71FMEGt3XDuRQ5Xvuy9Nb86saWGU
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-5
generated: 5/4/2026, 2:54:47 AM
last updated: 5/30/2026, 12:14:53 PM
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