If you notice some outdated information please let us know!
FAIL
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 at website https://docs.abracadabra.money/our-ecosystem/our-cauldrons-contract, as indicated in the Appendix.
2. Is the code actively being used? (%)
Activity is more than 10 transactions a day on contract Abracadabra.Money: yvstETH Market, 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? (%)
At 79 commits and 11 branches, this repository's history is just shy of spellbinding but is certainly well on the way to becoming as enchanting as DeFi expects.
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)
The founder of Abracadraba, Daniele Sesta, is public at https://twitter.com/danielesesta.
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.
7. Are the basic software functions documented? (Y/N)
Although dApp instructions are identified, this is not considered as software function (code) documentation.
8. Does the software function documentation fully (100%) cover the deployed contracts? (%)
While the dApp functions are identified, there is no explanation of code used in the deployed contracts. This requires greater elaboration on how the code performs the functions that the docs identify.
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 (%)
Documentation identifies the contracts and what they do, but does not reference any code in the process.
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) (%)
No code coverage testing was found, but evidently some testing has occurred.
13. Scripts and instructions to run the tests? (Y/N)
Scripts were found at https://github.com/Abracadabra-money/magic-internet-money/tree/main/scripts.
14. Report of the results (%)
No report results were found.
15. Formal Verification test done (%)
No formal verification was found.
16. Stress Testing environment (%)
No evidence of stress testing on a testnet was found.
This section looks at the 3rd party software audits done. It is explained in this document.
17. Did 3rd Party audits take place? (%)
Abracadabra is unaudited. A changelog was provided to the DeFiSafety team, though this was not circulated to the public meaning we cannot factor this into the score.
18. Is the bug bounty acceptable high? (%)
Abracadabra offers an active program with a top bounty of $100K.
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 (%)
A mention that the protocol's governance decisions are subject to team consideration means that the protocol is controlled by the anonymous team. Additional governance info can be found in the tokenomics section of their docs, as well as in this Medium article.
20. Is the information clear and complete (%)
a) All contracts are clearly labelled as upgradeable (or not) -- 15% -- certain protocol parameters are clearly labelled as upgradeable through voting in this Medium article. However, the specific contracts are not explicitly mentioned. b) The type of ownership is clearly indicated (OnlyOwner / MultiSig / Defined Roles) -- 30% -- admin ownership is implied. In addition, MultiSig info can be found at https://docs.abracadabra.money/tokens/tokenomics. c) The capabilities for change in the contracts are described -- 10% -- This Medium article describes what parameters can be changed within the protocol, but doesn't touch upon the scope of these capabilities for change.
21. Is the information in non-technical terms that pertain to the investments (%)
Although there is an acceptable amount of access control information, none of it relates directly to user investment safety, and it therefore more software-specific language.
22. Is there Pause Control documentation including records of tests (%)
No pause control documentation was found.
1contract sSpell is IERC20, Domain {
2 using BoringMath for uint256;
3 using BoringMath128 for uint128;
4 using BoringERC20 for IERC20;
5
6 string public constant symbol = "sSPELL";
7 string public constant name = "Staked Spell Tokens";
8 uint8 public constant decimals = 18;
9 uint256 public override totalSupply;
10 uint256 private constant LOCK_TIME = 24 hours;
11
12 IERC20 public immutable token;
13
14 constructor(IERC20 _token) public {
15 token = _token;
16 }
17
18 struct User {
19 uint128 balance;
20 uint128 lockedUntil;
21 }
22
23 /// @notice owner > balance mapping.
24 mapping(address => User) public users;
25 /// @notice owner > spender > allowance mapping.
26 mapping(address => mapping(address => uint256)) public override allowance;
27 /// @notice owner > nonce mapping. Used in `permit`.
28 mapping(address => uint256) public nonces;
29
30 event Transfer(address indexed _from, address indexed _to, uint256 _value);
31 event Approval(address indexed _owner, address indexed _spender, uint256 _value);
32
33 function balanceOf(address user) public view override returns (uint256 balance) {
34 return users[user].balance;
35 }
36
37 function _transfer(
38 address from,
39 address to,
40 uint256 shares
41 ) internal {
42 User memory fromUser = users[from];
43 require(block.timestamp >= fromUser.lockedUntil, "Locked");
44 if (shares != 0) {
45 require(fromUser.balance >= shares, "Low balance");
46 if (from != to) {
47 require(to != address(0), "Zero address"); // Moved down so other failed calls safe some gas
48 User memory toUser = users[to];
49 users[from].balance = fromUser.balance - shares.to128(); // Underflow is checked
50 users[to].balance = toUser.balance + shares.to128(); // Can't overflow because totalSupply would be greater than 2^128-1;
51 }
52 }
53 emit Transfer(from, to, shares);
54 }
55
56 function _useAllowance(address from, uint256 shares) internal {
57 if (msg.sender == from) {
58 return;
59 }
60 uint256 spenderAllowance = allowance[from][msg.sender];
61 // If allowance is infinite, don't decrease it to save on gas (breaks with EIP-20).
62 if (spenderAllowance != type(uint256).max) {
63 require(spenderAllowance >= shares, "Low allowance");
64 allowance[from][msg.sender] = spenderAllowance - shares; // Underflow is checked
65 }
66 }
67
68 /// @notice Transfers `shares` tokens from `msg.sender` to `to`.
69 /// @param to The address to move the tokens.
70 /// @param shares of the tokens to move.
71 /// @return (bool) Returns True if succeeded.
72 function transfer(address to, uint256 shares) public returns (bool) {
73 _transfer(msg.sender, to, shares);
74 return true;
75 }
76
77 /// @notice Transfers `shares` tokens from `from` to `to`. Caller needs approval for `from`.
78 /// @param from Address to draw tokens from.
79 /// @param to The address to move the tokens.
80 /// @param shares The token shares to move.
81 /// @return (bool) Returns True if succeeded.
82 function transferFrom(
83 address from,
84 address to,
85 uint256 shares
86 ) public returns (bool) {
87 _useAllowance(from, shares);
88 _transfer(from, to, shares);
89 return true;
90 }
91
92 /// @notice Approves `amount` from sender to be spend by `spender`.
93 /// @param spender Address of the party that can draw from msg.sender's account.
94 /// @param amount The maximum collective amount that `spender` can draw.
95 /// @return (bool) Returns True if approved.
96 function approve(address spender, uint256 amount) public override returns (bool) {
97 allowance[msg.sender][spender] = amount;
98 emit Approval(msg.sender, spender, amount);
99 return true;
100 }
101
102 // solhint-disable-next-line func-name-mixedcase
103 function DOMAIN_SEPARATOR() external view returns (bytes32) {
104 return _domainSeparator();
105 }
106
107 // keccak256("Permit(address owner,address spender,uint256 value,uint256 nonce,uint256 deadline)");
108 bytes32 private constant PERMIT_SIGNATURE_HASH = 0x6e71edae12b1b97f4d1f60370fef10105fa2faae0126114a169c64845d6126c9;
109
110 /// @notice Approves `value` from `owner_` to be spend by `spender`.
111 /// @param owner_ Address of the owner.
112 /// @param spender The address of the spender that gets approved to draw from `owner_`.
113 /// @param value The maximum collective amount that `spender` can draw.
114 /// @param deadline This permit must be redeemed before this deadline (UTC timestamp in seconds).
115 function permit(
116 address owner_,
117 address spender,
118 uint256 value,
119 uint256 deadline,
120 uint8 v,
121 bytes32 r,
122 bytes32 s
123 ) external override {
124 require(owner_ != address(0), "Zero owner");
125 require(block.timestamp < deadline, "Expired");
126 require(
127 ecrecover(_getDigest(keccak256(abi.encode(PERMIT_SIGNATURE_HASH, owner_, spender, value, nonces[owner_]++, deadline))), v, r, s) ==
128 owner_,
129 "Invalid Sig"
130 );
131 allowance[owner_][spender] = value;
132 emit Approval(owner_, spender, value);
133 }
134
135 // math is ok, because amount, totalSupply and shares is always 0 <= amount <= 100.000.000 * 10^18
136 // theoretically you can grow the amount/share ratio, but it's not practical and useless
137 function mint(uint256 amount) public returns (bool) {
138 require(msg.sender != address(0), "Zero address");
139 User memory user = users[msg.sender];
140
141 uint256 totalTokens = token.balanceOf(address(this));
142 uint256 shares = totalSupply == 0 ? amount : (amount * totalSupply) / totalTokens;
143 user.balance += shares.to128();
144 user.lockedUntil = (block.timestamp + LOCK_TIME).to128();
145 users[msg.sender] = user;
146 totalSupply += shares;
147
148 token.safeTransferFrom(msg.sender, address(this), amount);
149
150 emit Transfer(address(0), msg.sender, shares);
151 return true;
152 }
153
154 function _burn(
155 address from,
156 address to,
157 uint256 shares
158 ) internal {
159 require(to != address(0), "Zero address");
160 User memory user = users[from];
161 require(block.timestamp >= user.lockedUntil, "Locked");
162 uint256 amount = (shares * token.balanceOf(address(this))) / totalSupply;
163 users[from].balance = user.balance.sub(shares.to128()); // Must check underflow
164 totalSupply -= shares;
165
166 token.safeTransfer(to, amount);
167
168 emit Transfer(from, address(0), shares);
169 }
170
171 function burn(address to, uint256 shares) public returns (bool) {
172 _burn(msg.sender, to, shares);
173 return true;
174 }
175
176 function burnFrom(
177 address from,
178 address to,
179 uint256 shares
180 ) public returns (bool) {
181 _useAllowance(from, shares);
182 _burn(from, to, shares);
183 return true;
Comments to Code: 554 / 1941 = 29 %
Tests to Code: 2096 / 1941 = 108 %