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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 relevant chain that gets reviewed and its corresponding software repository. The document explaining these questions is here.
1. Are the smart contract addresses easy to find? (%)
Aave's smart contracts can be found at https://docs.aave.com/developers/getting-started/contracts-overview, as indicated in the Appendix.
2. How active is the primary contract? (%)
Contract LendingPool is used 100+ times a day, as indicated in the Appendix.
3. Does the protocol have a public software repository? (Y/N)
Aave uses GitHub
4. Is there a development history visible? (%)
At an astonishing 1846 commits, Aave is clearly no ghost when it comes to development history.
5. Is the team public (not anonymous)?
Aave has many public and anonymous developers.
The difference between this and the old link is solely the link. This section looks at the software documentation. The document explaining these questions is here.
6. Is there a whitepaper? (Y/N)
Location: https://docs.aave.com/developers/getting-started/v3-overview
7. Is the protocol's software architecture documented? (Y/N)
Aave's software architecture is documented in full.
8. Does the software documentation fully cover the deployed contracts' source code? (%)
There is full coverage of Aave's deployed contracts by software function documentation.
9. Is it possible to trace the documented software to its implementation in the protocol's source code? (%)
There is full and explicit traceability between software documentation and implemented code. However, more important contracts such as ACLManager and Pool do not have explicit traceability. Therefore, 20% will be deducted from the scoring of this question.
10. Has the protocol tested their deployed code? (%)
Code examples are in the Appendix at the end of this report.. As per the SLOC, there is 792% testing to code (TtC). Aave's high TtC is a sign of significant and efficacious testing practices.
11. How covered is the protocol's code? (%)
Aave has full code coverage.
12. Does the protocol provide scripts and instructions to run their tests? (Y/N)
Scripts/Instructions location: https://github.com/aave/aave-v3-core#test
13. Is there a detailed report of the protocol's test results?(%)
There is no public test report available. Nevertheless, there is a GitHub coverage report.
14. Has the protocol undergone Formal Verification? (Y/N)
Aave V3 has undergone formal verification.
15. Were the smart contracts deployed to a testnet? (Y/N)
This protocol has documented deployment to a testnet.
This section looks at the 3rd party software audits done. It is explained in this document.
16. Is the protocol sufficiently audited? (%)
Aave has undergone multiple audits which were released before deployment.
17. Is the bounty value acceptably high (%)
This protocol offers an inactive bug bounty of $250K
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.
18. Is the protocol's admin control information easy to find?
Admin control information was clearly documented at this location. This was quick to find.
19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)
Relevant contracts are all identified as immutable / upgradeable, as identified here.
20. Is the type of smart contract ownership clearly indicated? (%)
Ownership is clearly indicated in this location.
21. Are the protocol's smart contract change capabilities described? (%)
Smart contract change capabilities are clearly identified in relevant contracts.
22. Is the protocol's admin control information easy to understand? (%)
This information is in software specific language.
23. Is there sufficient Pause Control documentation? (%)
The AAVE Pause Control function is called Pause Guardian and is documented in the Governance subgraph. A test from May 2021 is documented, though nothing more recent is clear.
24. Is there sufficient Timelock documentation? (%)
Aave's timelock documentation can be found at this location. A duration is specified elsewhere.
25. Is the Timelock of an adequate length? (Y/N)
The timelock is of a non-specified length. There are two different lengths for the timelock, though this is not explained. In V2 it is identified as 3 days and 10 days, though it is unclear if V2 governance remains the same with Aave V3.
This section goes over the documentation that a protocol may or may not supply about their Oracle usage. Oracles are a fundamental part of DeFi as they are responsible for relaying tons of price data information to thousands of protocols using blockchain technology. Not only are they important for price feeds, but they are also an essential component of transaction verification and security. This is explained in this document.
26. Is the protocol's Oracle sufficiently documented? (%)
The protocol's oracle source is well documented at this location. The contracts dependent are identified. There is relevant software function documentation.
27. Is front running mitigated by this protocol? (Y/N)
Aave documents no front running mitigation techniques. However, front running cannot really be used as an attack on a lending/liquidity protocol. Therefore, 100% is awarded.
28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)
Aave documents multiple liquidity attack mitigation strategies within their whitepaper.
1import {VersionedInitializable} from '../libraries/aave-upgradeability/VersionedInitializable.sol';
2import {Errors} from '../libraries/helpers/Errors.sol';
3import {ReserveConfiguration} from '../libraries/configuration/ReserveConfiguration.sol';
4import {PoolLogic} from '../libraries/logic/PoolLogic.sol';
5import {ReserveLogic} from '../libraries/logic/ReserveLogic.sol';
6import {EModeLogic} from '../libraries/logic/EModeLogic.sol';
7import {SupplyLogic} from '../libraries/logic/SupplyLogic.sol';
8import {FlashLoanLogic} from '../libraries/logic/FlashLoanLogic.sol';
9import {BorrowLogic} from '../libraries/logic/BorrowLogic.sol';
10import {LiquidationLogic} from '../libraries/logic/LiquidationLogic.sol';
11import {DataTypes} from '../libraries/types/DataTypes.sol';
12import {BridgeLogic} from '../libraries/logic/BridgeLogic.sol';
13import {IERC20WithPermit} from '../../interfaces/IERC20WithPermit.sol';
14import {IPoolAddressesProvider} from '../../interfaces/IPoolAddressesProvider.sol';
15import {IPool} from '../../interfaces/IPool.sol';
16import {IACLManager} from '../../interfaces/IACLManager.sol';
17import {PoolStorage} from './PoolStorage.sol';
18
19/**
20 * @title Pool contract
21 * @author Aave
22 * @notice Main point of interaction with an Aave protocol's market
23 * - Users can:
24 * # Supply
25 * # Withdraw
26 * # Borrow
27 * # Repay
28 * # Swap their loans between variable and stable rate
29 * # Enable/disable their supplied assets as collateral rebalance stable rate borrow positions
30 * # Liquidate positions
31 * # Execute Flash Loans
32 * @dev To be covered by a proxy contract, owned by the PoolAddressesProvider of the specific market
33 * @dev All admin functions are callable by the PoolConfigurator contract defined also in the
34 * PoolAddressesProvider
35 **/
36contract Pool is VersionedInitializable, IPool, PoolStorage {
37 using ReserveLogic for DataTypes.ReserveData;
38
39 uint256 public constant POOL_REVISION = 0x1;
40 IPoolAddressesProvider public immutable ADDRESSES_PROVIDER;
41
42 /**
43 * @dev Only pool configurator can call functions marked by this modifier.
44 **/
45 modifier onlyPoolConfigurator() {
46 _onlyPoolConfigurator();
47 _;
48 }
49
50 /**
51 * @dev Only pool admin can call functions marked by this modifier.
52 **/
53 modifier onlyPoolAdmin() {
54 _onlyPoolAdmin();
55 _;
56 }
57
58 /**
59 * @dev Only bridge can call functions marked by this modifier.
60 **/
61 modifier onlyBridge() {
62 _onlyBridge();
63 _;
64 }
65
66 function _onlyPoolConfigurator() internal view virtual {
67 require(
68 ADDRESSES_PROVIDER.getPoolConfigurator() == msg.sender,
69 Errors.CALLER_NOT_POOL_CONFIGURATOR
70 );
71 }
72
73 function _onlyPoolAdmin() internal view virtual {
74 require(
75 IACLManager(ADDRESSES_PROVIDER.getACLManager()).isPoolAdmin(msg.sender),
76 Errors.CALLER_NOT_POOL_ADMIN
77 );
78 }
79
80 function _onlyBridge() internal view virtual {
81 require(
82 IACLManager(ADDRESSES_PROVIDER.getACLManager()).isBridge(msg.sender),
83 Errors.CALLER_NOT_BRIDGE
84 );
85 }
86
87 function getRevision() internal pure virtual override returns (uint256) {
88 return POOL_REVISION;
89 }
90
91 /**
92 * @dev Constructor.
93 * @param provider The address of the PoolAddressesProvider contract
94 */
95 constructor(IPoolAddressesProvider provider) {
96 ADDRESSES_PROVIDER = provider;
97 }
98
99 /**
100 * @notice Initializes the Pool.
101 * @dev Function is invoked by the proxy contract when the Pool contract is added to the
102 * PoolAddressesProvider of the market.
103 * @dev Caching the address of the PoolAddressesProvider in order to reduce gas consumption on subsequent operations
104 * @param provider The address of the PoolAddressesProvider
105 **/
106 function initialize(IPoolAddressesProvider provider) external virtual initializer {
107 require(provider == ADDRESSES_PROVIDER, Errors.INVALID_ADDRESSES_PROVIDER);
108 _maxStableRateBorrowSizePercent = 0.25e4;
109 _flashLoanPremiumTotal = 0.0009e4;
110 _flashLoanPremiumToProtocol = 0;
111 }
112
113 /// @inheritdoc IPool
114 function mintUnbacked(
115 address asset,
116 uint256 amount,
117 address onBehalfOf,
118 uint16 referralCode
119 ) external virtual override onlyBridge {
120 BridgeLogic.executeMintUnbacked(
121 _reserves,
122 _reservesList,
123 _usersConfig[onBehalfOf],
124 asset,
125 amount,
126 onBehalfOf,
127 referralCode
128 );
129 }
130
131 /// @inheritdoc IPool
132 function backUnbacked(
133 address asset,
134 uint256 amount,
135 uint256 fee
136 ) external virtual override onlyBridge {
137 BridgeLogic.executeBackUnbacked(_reserves[asset], asset, amount, fee, _bridgeProtocolFee);
138 }
139
140 /// @inheritdoc IPool
141 function supply(
142 address asset,
143 uint256 amount,
144 address onBehalfOf,
145 uint16 referralCode
146 ) external virtual override {
147 SupplyLogic.executeSupply(
148 _reserves,
149 _reservesList,
150 _usersConfig[onBehalfOf],
151 DataTypes.ExecuteSupplyParams({
152 asset: asset,
153 amount: amount,
154 onBehalfOf: onBehalfOf,
155 referralCode: referralCode
156 })
157 );
158 }
159
160 /// @inheritdoc IPool
161 function supplyWithPermit(
162 address asset,
163 uint256 amount,
164 address onBehalfOf,
165 uint16 referralCode,
166 uint256 deadline,
167 uint8 permitV,
168 bytes32 permitR,
169 bytes32 permitS
170 ) external virtual override {
171 IERC20WithPermit(asset).permit(
172 msg.sender,
173 address(this),
174 amount,
175 deadline,
176 permitV,
177 permitR,
178 permitS
179 );
180 SupplyLogic.executeSupply(
181 _reserves,
182 _reservesList,
183 _usersConfig[onBehalfOf],
184 DataTypes.ExecuteSupplyParams({
185 asset: asset,
186 amount: amount,
187 onBehalfOf: onBehalfOf,
188 referralCode: referralCode
189 })
190 );
191 }
192
193 /// @inheritdoc IPool
194 function withdraw(
195 address asset,
196 uint256 amount,
197 address to
198 ) external virtual override returns (uint256) {
199 return
200 SupplyLogic.executeWithdraw(
201 _reserves,
202 _reservesList,
203 _eModeCategories,
204 _usersConfig[msg.sender],
205 DataTypes.ExecuteWithdrawParams({
206 asset: asset,
207 amount: amount,
208 to: to,
209 reservesCount: _reservesCount,
210 oracle: ADDRESSES_PROVIDER.getPriceOracle(),
211 userEModeCategory: _usersEModeCategory[msg.sender]
212 })
213 );
214 }
215
216 /// @inheritdoc IPool
217 function borrow(
218 address asset,
219 uint256 amount,
220 uint256 interestRateMode,
221 uint16 referralCode,
222 address onBehalfOf
223 ) external virtual override {
224 BorrowLogic.executeBorrow(
225 _reserves,
226 _reservesList,
227 _eModeCategories,
228 _usersConfig[onBehalfOf],
229 DataTypes.ExecuteBorrowParams({
230 asset: asset,
231 user: msg.sender,
232 onBehalfOf: onBehalfOf,
233 amount: amount,
234 interestRateMode: DataTypes.InterestRateMode(interestRateMode),
235 referralCode: referralCode,
236 releaseUnderlying: true,
237 maxStableRateBorrowSizePercent: _maxStableRateBorrowSizePercent,
238 reservesCount: _reservesCount,
239 oracle: ADDRESSES_PROVIDER.getPriceOracle(),
240 userEModeCategory: _usersEModeCategory[onBehalfOf],
241 priceOracleSentinel: ADDRESSES_PROVIDER.getPriceOracleSentinel()
242 })
243 );
244 }
245
246 /// @inheritdoc IPool
247 function repay(
248 address asset,
249 uint256 amount,
250 uint256 interestRateMode,
251 address onBehalfOf
252 ) external virtual override returns (uint256) {
253 return
254 BorrowLogic.executeRepay(
255 _reserves,
256 _reservesList,
257 _usersConfig[onBehalfOf],
258 DataTypes.ExecuteRepayParams({
259 asset: asset,
260 amount: amount,
261 interestRateMode: DataTypes.InterestRateMode(interestRateMode),
262 onBehalfOf: onBehalfOf,
263 useATokens: false
264 })
265 );
266 }
267
268 /// @inheritdoc IPool
269 function repayWithPermit(
270 address asset,
271 uint256 amount,
272 uint256 interestRateMode,
273 address onBehalfOf,
274 uint256 deadline,
275 uint8 permitV,
276 bytes32 permitR,
277 bytes32 permitS
278 ) external virtual override returns (uint256) {
279 {
280 IERC20WithPermit(asset).permit(
281 msg.sender,
282 address(this),
283 amount,
284 deadline,
285 permitV,
286 permitR,
287 permitS
288 );
289 }