If you notice some outdated information please let us know!
PASS
The final review score is indicated as a percentage. The percentage is calculated as Achieved Points due to MAX Possible Points. For each element the answer can be either Yes/No or a percentage. For a detailed breakdown of the individual weights of each question, please consult this document.
Very simply, the audit looks for the following declarations from the developer's site. With these declarations, it is reasonable to trust the smart contracts.
This report is for informational purposes only and does not constitute investment advice of any kind, nor does it constitute an offer to provide investment advisory or other services. Nothing in this report shall be considered a solicitation or offer to buy or sell any security, token, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this report constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this report should not be taken as advice to buy, sell or hold any security. The information in this report should not be relied upon for the purpose of investing. In preparing the information contained in this report, we have not taken into account the investment needs, objectives and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors.
Any views expressed in this report by us were prepared based upon the information available to us at the time such views were written. The views expressed within this report are limited to DeFiSafety and the author and do not reflect those of any additional or third party and are strictly based upon DeFiSafety, its authors, interpretations and evaluation of relevant data. Changed or additional information could cause such views to change. All information is subject to possible correction. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
This completed report is copyright (c) DeFiSafety 2023. Permission is given to copy in whole, retaining this copyright label.
This section looks at the code deployed on the Mainnet that gets reviewed and its corresponding software repository. The document explaining these questions is here.
1. Are the executing code addresses readily available? (%)
They are available on https://lending-docs.unfederalreserve.com/docs/developer/smart-contract-address/ as indicated in the Appendix.
2. Is the code actively being used? (%)
Activity is 60 transactions a day on contract Unitroller.sol, as indicated in the Appendix.
3. Is there a public software repository? (Y/N)
Is there a public software repository with the code at a minimum, but also normally test and scripts. Even if the repository was created just to hold the files and has just 1 transaction, it gets a "Yes". For teams with private repositories, this answer is "No"
4. Is there a development history visible? (%)
With 65 commits and 2 branches, this is a semi-acceptable software repository.
This metric checks if the software repository demonstrates a strong steady history. This is normally demonstrated by commits, branches and releases in a software repository. A healthy history demonstrates a history of more than a month (at a minimum).
5. Is the team public (not anonymous)? (Y/N)
You can find team information at https://unfederalreserve.com/team
For a "Yes" in this question, the real names of some team members must be public on the website or other documentation (LinkedIn, etc). If the team is anonymous, then this question is a "No".
This section looks at the software documentation. The document explaining these questions is here.
6. Is there a whitepaper? (Y/N)
7. Are the basic software functions documented? (Y/N)
Function documentation available at https://lending-docs.unfederalreserve.com/docs/developer/untokens/
8. Does the software function documentation fully (100%) cover the deployed contracts? (%)
All contracts and functions are covered at https://lending-docs.unfederalreserve.com/docs/developer/untokens/. They also have APY documentation at https://lending-docs.unfederalreserve.com/docs/lending/interest-rate-model/
9. Are there sufficiently detailed comments for all functions within the deployed contract code (%)
The Comments to Code (CtC) ratio is the primary metric for this score.
10. Is it possible to trace from software documentation to the implementation in code (%)
There is clear explicit traceability found at https://lending-docs.unfederalreserve.com/docs/developer/untokens/.
11. Full test suite (Covers all the deployed code) (%)
This score is guided by the Test to Code ratio (TtC). Generally a good test to code ratio is over 100%. However the reviewers best judgement is the final deciding factor.
12. Code coverage (Covers all the deployed lines of code, or explains misses) (%)
13. Scripts and instructions to run the tests? (Y/N)
Instructions can be found at the bottom of this page: https://github.com/UnFederalReserve/compound-protocol
14. Report of the results (%)
There is no evidence of a test report.
15. Formal Verification test done (%)
No formal verification of unFederalReserve was performed.
16. Stress Testing environment (%)
This section looks at the 3rd party software audits done. It is explained in this document.
17. Did 3rd Party audits take place? (%)
18. Is the bug bounty acceptable high? (%)
Bug bounty info found at https://lending-docs.unfederalreserve.com/docs/security/bug-bounty/. Reward as high as 150k, and active since May 20th 2021.
This section covers the documentation of special access controls for a DeFi protocol. The admin access controls are the contracts that allow updating contracts or coefficients in the protocol. Since these contracts can allow the protocol admins to "change the rules", complete disclosure of capabilities is vital for user's transparency. It is explained in this document.
19. Can a user clearly and quickly find the status of the access controls (%)
Admin controls can be found on page 42 of https://unfederalreserve.com/docs/Residual_Token_Whitepaper_091520_CONFIDE.pdf, and page 2 of https://unfederalreserve.com/docs/LitePaperRSDL.pdf. - Note: unFederalReserve is indicated as being immutable on their home page at https://unfederalreserve.com/, however there is contradictory information in their documentation.
20. Is the information clear and complete (%)
21. Is the information in non-technical terms that pertain to the investments (%)
22. Is there Pause Control documentation including records of tests (%)
1pragma solidity ^0.5.16;
2
3import "./ErrorReporter.sol";
4import "./ComptrollerStorage.sol";
5/**
6 * @title ComptrollerCore
7 * @dev Storage for the comptroller is at this address, while execution is delegated to the `comptrollerImplementation`.
8 * CTokens should reference this contract as their comptroller.
9 */
10contract Unitroller is UnitrollerAdminStorage, ComptrollerErrorReporter {
11
12 /**
13 * @notice Emitted when pendingComptrollerImplementation is changed
14 */
15 event NewPendingImplementation(address oldPendingImplementation, address newPendingImplementation);
16
17 /**
18 * @notice Emitted when pendingComptrollerImplementation is accepted, which means comptroller implementation is updated
19 */
20 event NewImplementation(address oldImplementation, address newImplementation);
21
22 /**
23 * @notice Emitted when pendingAdmin is changed
24 */
25 event NewPendingAdmin(address oldPendingAdmin, address newPendingAdmin);
26
27 /**
28 * @notice Emitted when pendingAdmin is accepted, which means admin is updated
29 */
30 event NewAdmin(address oldAdmin, address newAdmin);
31
32 constructor() public {
33 // Set admin to caller
34 admin = msg.sender;
35 }
36
37 /** Admin Functions **/
38 function _setPendingImplementation(address newPendingImplementation) public returns (uint) {
39
40 if (msg.sender != admin) {
41 return fail(Error.UNAUTHORIZED, FailureInfo.SET_PENDING_IMPLEMENTATION_OWNER_CHECK);
42 }
43
44 address oldPendingImplementation = pendingComptrollerImplementation;
45
46 pendingComptrollerImplementation = newPendingImplementation;
47
48 emit NewPendingImplementation(oldPendingImplementation, pendingComptrollerImplementation);
49
50 return uint(Error.NO_ERROR);
51 }
52
53 /**
54 * @notice Accepts new implementation of comptroller. msg.sender must be pendingImplementation
55 * @dev Admin function for new implementation to accept it's role as implementation
56 * @return uint 0=success, otherwise a failure (see ErrorReporter.sol for details)
57 */
58 function _acceptImplementation() public returns (uint) {
59 // Check caller is pendingImplementation and pendingImplementation ≠ address(0)
60 if (msg.sender != pendingComptrollerImplementation || pendingComptrollerImplementation == address(0)) {
61 return fail(Error.UNAUTHORIZED, FailureInfo.ACCEPT_PENDING_IMPLEMENTATION_ADDRESS_CHECK);
62 }
63
Comments to Code: 4993 / 7910 = 63 %
Tests to Code: 7542 / 7910 = 95 %