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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 at website https://github.com/ArmorFi/arNXM as indicated in the Appendix.
2. Is the code actively being used? (%)
Activity is 3 transactions a day on contract arNFT.sol, as indicated in the Appendix.
3. Is there a public software repository? (Y/N)
GitHub: https://github.com/ArmorFi
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 209 commits and 7 branches, this is a healthy 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)
The names of the team members are not public.
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)
There is a small amount of function documentation in their GitHub Repositories.
8. Does the software function documentation fully (100%) cover the deployed contracts? (%)
Armor.fi documents some of the major contracts and functions.
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 (%)
The documentation lists the functions and describes their functions.
11. Full test suite (Covers all the deployed code) (%)
With a TtC of 165%, this is clearly a well-tested protocol.
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) (%)
There is no indication of code coverage, but there is clearly a reasonable set of tests.
13. Scripts and instructions to run the tests? (Y/N)
location: https://github.com/ArmorFi/arNXM
14. Report of the results (%)
There is no evident report of the test results.
15. Formal Verification test done (%)
There is no evidence of formal verification testing having been done.
16. Stress Testing environment (%)
There are no published test net addresses.
This section looks at the 3rd party software audits done. It is explained in this document.
17. Did 3rd Party audits take place? (%)
There have been 2 audits that have been performed on this protocol, with the earliest being released on the 16th of October, 2020.
18. Is the bug bounty acceptable high? (%)
Bug Bounty Location: https://armorfi.gitbook.io/armor/developers/bug-bounties
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 (%)
The development team owns a team multisig.
20. Is the information clear and complete (%)
All contracts are clearly labelled as behind a proxie --> 30% The type of ownership is team MultiSig with TimeLock --> 30% The capabilities for change are implied as fully upgradable --> 10% 30+30+10=70%
21. Is the information in non-technical terms that pertain to the investments (%)
The descriptions are written in software specific language.
22. Is there Pause Control documentation including records of tests (%)
There is no documentation indicating any pause control testing having been done on this platform.
1pragma solidity ^0.6.6;
2
3import '../general/Ownable.sol';
4import '../libraries/SafeERC20.sol';
5import '../interfaces/IWNXM.sol';
6import '../interfaces/IERC20.sol';
7import '../interfaces/INexusMutual.sol';
8import '../interfaces/IRewardManager.sol';
9import '../interfaces/IShieldMining.sol';
10/**
11 * @title arNXM Vault
12 * @dev Vault to stake wNXM or NXM in Nexus Mutual while maintaining your liquidity.
13 * This is V2 which replaces V1 behind a proxy. Updated variables at the bottom.
14 * @author Armor.fi -- Robert M.C. Forster, Taek Lee
15 * SPDX-License-Identifier: (c) Armor.Fi DAO, 2021
16**/
17contract arNXMVault is Ownable {
18
19 using SafeMath for uint;
20 using SafeERC20 for IERC20;
21
22 uint256 constant private DENOMINATOR = 1000;
23
24 // Amount of time between
25 uint256 public restakePeriod;
26
27 // Amount of time that rewards are distributed over.
28 uint256 public rewardDuration;
29
30 // This used to be unstake percent but has now been deprecated in favor of individual unstakes.
31 // Paranoia results in this not being replaced but rather deprecated and new variables placed at the bottom.
32 uint256 public ____deprecated____;
33
34 // Amount of wNXM (in token Wei) to reserve each period.
35 // Overwrites reservePercent in update.
36 uint256 public reserveAmount;
37
38 // Withdrawals may be paused if a hack has recently happened. Timestamp of when the pause happened.
39 uint256 public withdrawalsPaused;
40
41 // Amount of time withdrawals may be paused after a hack.
42 uint256 public pauseDuration;
43
44 // Address that will receive administration funds from the contract.
45 address public beneficiary;
46
47 // Percent of funds to be distributed for administration of the contract. 10 == 1%; 1000 == 100%.
48 uint256 public adminPercent;
49
50 // Percent of staking rewards that referrers get.
51 uint256 public referPercent;
52
53 // Timestamp of when the last restake took place--7 days between each.
54 uint256 public lastRestake;
55
56 // The amount of the last reward.
57 uint256 public lastReward;
58
59 // Uniswap, Maker, Compound, Aave, Curve, Synthetix, Yearn, RenVM, Balancer, dForce.
60 address[] public protocols;
61
62 // Amount to unstake each time.
63 uint256[] private amounts;
64
65 // Protocols being actively used in staking or unstaking.
66 address[] private activeProtocols;
67
68 // Nxm tokens.
69 IERC20 public wNxm;
70 IERC20 public nxm;
71 IERC20 public arNxm;
72
73 / Nxm Master address.
74 INxmMaster public nxmMaster;
75
76 / Reward manager for referrers.
77 IRewardManager public rewardManager
Comments to Code: 1104 / 2568 = 43 %
Tests to Code: 4243 / 2568 = 165 %