Verify a decision

{"actor":"system:backfill","investigation_id":"d9137293-15db-46cf-b00d-94ca66903d90","kind":"publish","page_slug":"bond-protocol","published_at":"2026-05-30T12:14:53.891Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Bond Protocol","sections":[{"content":"","heading":"","severity":"low","sources":[{"credibility":2,"name":"Introducing Bond Protocol — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/introducing-bond-protocol-8476881f84e4"},{"credibility":2,"name":"OIP-104: Deploy Permissionless OP as Bond Protocol — OlympusDAO Forum","type":"official","url":"https://forum.olympusdao.finance/d/1243-oip-104-deploy-permissionless-op-as-bond-protocol"},{"credibility":2,"name":"OlympusDAO Vote to Split Olympus Pro and Rename as Bond Protocol — TokenInsight","type":"news_article","url":"https://tokeninsight.com/en/news/olympusdao-s-vote-to-split-olympus-pro-and-rename-as-bond-protocol-approved"},{"credibility":2,"name":"Bond Protocol — IQ.wiki","type":"research","url":"https://iq.wiki/wiki/bond-protocol"}]},{"content":"","heading":"","severity":"high","sources":[{"credibility":1,"name":"Bond Protocol Incident Report — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/bond-protocol-incident-report-e0aa1dfdeab"},{"credibility":1,"name":"Hacker Drains $300,000 from Olympus DAO on Bond Protocol — The Block","type":"news_article","url":"https://www.theblock.co/post/178927/hacker-drains-olympus-dao"},{"credibility":2,"name":"Explained: The OlympusDAO Hack (October 2022) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-olympusdao-hack-october-2022"},{"credibility":2,"name":"OlympusDAO Suffer $300K Exploit, White Hat Hacker Returns All Funds — BeInCrypto","type":"news_article","url":"https://beincrypto.com/olympusdao-suffer-300k-exploit-white-hat-hacker-returns-all-funds/"},{"credibility":2,"name":"Olympus DAO Bond Protocol Missing Validation Exploit — Medium","type":"research","url":"https://medium.com/@dragotanqueray/olympus-dao-bond-protocol-missing-validation-exploit-d486a6e692d1"}]},{"content":"","heading":"","severity":"high","sources":[{"credibility":1,"name":"Bond Protocol Incident Report — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/bond-protocol-incident-report-e0aa1dfdeab"},{"credibility":2,"name":"Sherlock Audit February 2023 — sherlock-audit/2023-02-bond (GitHub)","type":"research","url":"https://github.com/sherlock-audit/2023-02-bond/blob/main/README.md"},{"credibility":2,"name":"Sherlock Audit June 2023 — sherlock-audit/2023-06-bond (GitHub)","type":"research","url":"https://github.com/sherlock-audit/2023-06-bond"},{"credibility":2,"name":"Sherlock Audit Issues — sherlock-audit/2023-02-bond-judging (GitHub)","type":"research","url":"https://github.com/sherlock-audit/2023-02-bond-judging/issues"},{"credibility":2,"name":"How Bond Protocol Simulates User Interactions to Keep Users Safe — GuardianUI on Medium","type":"research","url":"https://medium.com/guardianui/how-bond-protocol-simulates-user-interactions-to-keep-users-safe-c3fc8f02c755"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":2,"name":"Announcing Our $2.5M Seed Round — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/announcing-our-2-5m-seed-round-ff5891ffa654"},{"credibility":2,"name":"Bond Protocol — Alchemy Dapps","type":"other","url":"https://www.alchemy.com/dapps/bond-protocol"},{"credibility":2,"name":"OIP-104: Deploy Permissionless OP as Bond Protocol — OlympusDAO Forum","type":"official","url":"https://forum.olympusdao.finance/d/1243-oip-104-deploy-permissionless-op-as-bond-protocol"},{"credibility":2,"name":"Bond-Protocol GitHub Organization","type":"official","url":"https://github.com/bond-protocol"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":2,"name":"Bond Protocol TVL Stats and Charts — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/bond-protocol"},{"credibility":2,"name":"Bond Protocol Q2 2023 Report — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/bond-protocol-q2-2023-report-294f1182807a"},{"credibility":3,"name":"Pendle Bonds on Bond Protocol — Pendle Finance Twitter/X","type":"social_media","url":"https://x.com/pendle_fi/status/1638178409741430790"},{"credibility":2,"name":"Bond Protocol — IQ.wiki","type":"research","url":"https://iq.wiki/wiki/bond-protocol"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":2,"name":"ZachXBT — Investigations Archive (Mirror)","type":"research","url":"https://zachxbt.mirror.xyz/"},{"credibility":2,"name":"Investigations By ZachXBT — Paragraph","type":"research","url":"https://paragraph.com/@investigations"},{"credibility":2,"name":"Biggest DeFi Hacks in October 2022 — Halborn","type":"research","url":"https://www.halborn.com/blog/post/biggest-defi-hacks-in-october-2022"},{"credibility":2,"name":"Bondly Finance Hack Explained (July 2021) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-bondly-finance-hack-july-2021"}]},{"content":"","heading":"","severity":"high","sources":[{"credibility":2,"name":"What is Bonding (DeFi)? Definition, Examples, Risks — Cube Exchange","type":"research","url":"https://www.cube.exchange/what-is/bonding-defi"},{"credibility":2,"name":"Olympus DAO — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/olympus-dao"},{"credibility":2,"name":"Bond Protocol General FAQ — Official Docs","type":"official","url":"https://docs.bondprotocol.finance/general-faq"},{"credibility":1,"name":"Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi) — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2021/12/05/olympus-dao-might-be-the-future-of-money-or-it-might-be-a-ponzi"}]}],"sources_used":[{"credibility":1,"name":"Bond Protocol Incident Report — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/bond-protocol-incident-report-e0aa1dfdeab"},{"credibility":1,"name":"Hacker Drains $300,000 from Olympus DAO on Bond Protocol — The Block","type":"news_article","url":"https://www.theblock.co/post/178927/hacker-drains-olympus-dao"},{"credibility":2,"name":"Explained: The OlympusDAO Hack (October 2022) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-olympusdao-hack-october-2022"},{"credibility":2,"name":"OlympusDAO Suffer $300K Exploit, White Hat Hacker Returns All Funds — BeInCrypto","type":"news_article","url":"https://beincrypto.com/olympusdao-suffer-300k-exploit-white-hat-hacker-returns-all-funds/"},{"credibility":2,"name":"Introducing Bond Protocol — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/introducing-bond-protocol-8476881f84e4"},{"credibility":2,"name":"Announcing Our $2.5M Seed Round — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/announcing-our-2-5m-seed-round-ff5891ffa654"},{"credibility":2,"name":"OIP-104: Deploy Permissionless OP as Bond Protocol — OlympusDAO Forum","type":"official","url":"https://forum.olympusdao.finance/d/1243-oip-104-deploy-permissionless-op-as-bond-protocol"},{"credibility":2,"name":"Sherlock Audit February 2023 — GitHub","type":"research","url":"https://github.com/sherlock-audit/2023-02-bond/blob/main/README.md"},{"credibility":2,"name":"Sherlock Audit June 2023 — GitHub","type":"research","url":"https://github.com/sherlock-audit/2023-06-bond"},{"credibility":2,"name":"Sherlock Audit Issues (February 2023) — GitHub","type":"research","url":"https://github.com/sherlock-audit/2023-02-bond-judging/issues"},{"credibility":2,"name":"Bond Protocol TVL Stats and Charts — DeFiLlama","type":"on_chain","url":"https://defillama.com/protocol/bond-protocol"},{"credibility":2,"name":"Bond Protocol — IQ.wiki","type":"research","url":"https://iq.wiki/wiki/bond-protocol"},{"credibility":2,"name":"Biggest DeFi Hacks in October 2022 — Halborn","type":"research","url":"https://www.halborn.com/blog/post/biggest-defi-hacks-in-october-2022"},{"credibility":2,"name":"Bond Protocol Q2 2023 Report — Bond Protocol Medium","type":"official","url":"https://medium.com/@Bond_Protocol/bond-protocol-q2-2023-report-294f1182807a"},{"credibility":2,"name":"Olympus DAO Bond Protocol Missing Validation Exploit — Medium","type":"research","url":"https://medium.com/@dragotanqueray/olympus-dao-bond-protocol-missing-validation-exploit-d486a6e692d1"},{"credibility":2,"name":"How Bond Protocol Simulates User Interactions — GuardianUI on Medium","type":"research","url":"https://medium.com/guardianui/how-bond-protocol-simulates-user-interactions-to-keep-users-safe-c3fc8f02c755"},{"credibility":1,"name":"Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi) — CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2021/12/05/olympus-dao-might-be-the-future-of-money-or-it-might-be-a-ponzi"},{"credibility":2,"name":"ZachXBT — Investigations Archive (Mirror)","type":"research","url":"https://zachxbt.mirror.xyz/"},{"credibility":2,"name":"Investigations By ZachXBT — Paragraph","type":"research","url":"https://paragraph.com/@investigations"},{"credibility":2,"name":"Bondly Finance Hack Explained (July 2021) — Halborn","type":"research","url":"https://www.halborn.com/blog/post/explained-the-bondly-finance-hack-july-2021"}],"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.","timeline":[{"date":"2021-09-01","event":"OlympusDAO launches Olympus Pro, the bonding-as-a-service marketplace that becomes the direct predecessor to Bond Protocol.","source":"OlympusDAO Medium","source_url":"https://olympusdao.medium.com/introducing-olympus-pro-d8db3052fca5"},{"date":"2022-07-15","event":"Bond Protocol formally announced as a standalone entity spun out of OlympusDAO's Olympus Pro following OIP-104 governance vote approval.","source":"Bond Protocol Medium","source_url":"https://medium.com/@Bond_Protocol/introducing-bond-protocol-8476881f84e4"},{"date":"2022-10-03","event":"Bond Protocol dApp goes live on mainnet, offering permissionless bond market creation for any token pair.","source":"Bond Protocol Medium","source_url":"https://medium.com/@Bond_Protocol/introducing-bond-protocol-8476881f84e4"},{"date":"2022-10-06","event":"Bond Protocol announces a $2.5M seed round led by Chapter One and IDEO CoLab Ventures, with Alchemy Ventures and Hypersphere Ventures participating.","source":"Bond Protocol Medium","source_url":"https://medium.com/@Bond_Protocol/announcing-our-2-5m-seed-round-ff5891ffa654"},{"date":"2022-10-21","event":"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.","source":"Bond Protocol Incident Report — Medium","source_url":"https://medium.com/@Bond_Protocol/bond-protocol-incident-report-e0aa1dfdeab"},{"date":"2022-10-21","event":"Bond Protocol closes all Fixed-Expiry markets and begins working with Zellic on a full re-audit of the codebase.","source":"Bond Protocol Incident Report — Medium","source_url":"https://medium.com/@Bond_Protocol/bond-protocol-incident-report-e0aa1dfdeab"},{"date":"2023-02-01","event":"First Sherlock competitive audit of Bond Protocol conducted, covering new oracle-based auctioneers, fixed price auctioneer, Chainlink oracle, and batch auction wrapper contracts.","source":"Sherlock Audit — GitHub","source_url":"https://github.com/sherlock-audit/2023-02-bond/blob/main/README.md"},{"date":"2023-06-01","event":"Second Sherlock competitive audit conducted, covering Bond Protocol's Options Liquidity Mining (OLM) system and related contracts.","source":"Sherlock Audit — GitHub","source_url":"https://github.com/sherlock-audit/2023-06-bond"},{"date":"2023-10-01","event":"Bond Protocol launches the DAOversified podcast focused on DAO treasury management and operations.","source":"Bond Protocol — IQ.wiki","source_url":"https://iq.wiki/wiki/bond-protocol"},{"date":"2026-05-01","event":"Bond Protocol TVL measured at approximately $75,900 on DeFiLlama, down sharply from peak activity levels in 2022-2023.","source":"DeFiLlama — Bond Protocol","source_url":"https://defillama.com/protocol/bond-protocol"}]},"v":1}