Sherlock V2
Exploit Flow
The address that starts the claim, will be linked to the claim during its lifecycle. Even if the protocol agent is transferred during the claims lifecycle.
If an exploit is thought to have occurred at a covered protocol, the protocol will submit a claim to Sherlock.
The Watsons responsible for this protocol will work alongside the core devs to mitigate the exploit. Once the exploit has ended, the Watsons will work to understand the exploit's cause and magnitude. Through this process, a protocol will have a good sense of whether the exploit experienced is covered by Sherlock, and thus a claim should be submitted. The Watsons will help with the general claim submission process as well as choosing the correct timestamp and amount that should be submitted.
Details around Sherlock's full claim process can be found here. The first stage of the claims review is the decision made by the Sherlock Protocol Claims Committee (SPCC). If the protocol disagress with the SPCC decision, the protocol can post a bond of ~$22k and escalate the claim to UMA's Optimistic Oracle. This allows the protocol to have access to an unbiased, third-party judgment on whether the claim should be paid out or not.
If a claim should be paid out, the payout will go to the address specified by the protocol (protocol agent) when the claim was initiated.
Copy link