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Process Quality Review (0.8)
Uniswap V3
PASS
Scoring Appendix
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.
- Here is my smart contract on the blockchain
- You can see it matches a software repository used to develop the code
- Here is the documentation that explains what my smart contract does
- Here are the tests I ran to verify my smart contract
- Here are the audit(s) performed to review my code by third party experts
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.
Smart Contracts & Team
100%
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? (%)
They can be found at https://docs.uniswap.org/protocol/reference/deployments, as indicated in the Appendix.
2. How active is the primary contract? (%)
Contract SwapRouter02.sol was used over 25K times a day, as indicated in the Appendix.
3. Does the protocol have a public software repository? (Y/N)
Location: https://github.com/Uniswap/v3-core
4. Is there a development history visible? (%)
With 1000 commits and 2 branches, Uniswap V3 has a healthy software repository.
5. Is the team public (not anonymous)?
Where we found the team is documented in our team appendix at the end of this report. The majority of Uniswap's contributors are public, linking twitters, personal websites, and using pictures of themselves.
Documentation
94%
This section looks at the software documentation. The document explaining these questions is here.
6. Is there a whitepaper? (Y/N)
Location: https://uniswap.org/whitepaper-v3.pdf
7. Is the protocol's software architecture documented? (Y/N)
Uniswap has a video describing the functioning of concentrated liquidity, additionally, there are many other novice-friendly explanations in their doc's overview section. Even better, Uniswap's Engineering Lead, Noah Zinsmeister, created a video where he walks the viewer through the Uniswap code as well as other videos. I believe this is something brilliant that developers should do more often, I just wish Uniswap had this published it as well.
8. Does the software documentation fully cover the deployed contracts' source code? (%)
There is full coverage of deployed contracts by software function documentation in the "core" section of the Uniswap docs.
9. Is it possible to trace the documented software to its implementation in the protocol's source code? (%)
There is non-explicit traceability between software documentation and implemented code.
Testing
80%
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 7333/1602= ~478% testing to code (TtC). This score is guided by the Test to Code ratio (TtC). Generally a good test to code ratio is over 100%. However, the reviewer's best judgement is the final deciding factor.
11. How covered is the protocol's code? (%)
No coverage report could be found. However, Uniswap clearly has a very robust testing suite.
12. Does the protocol provide scripts and instructions to run their tests? (Y/N)
Scripts/Instructions location: https://github.com/Uniswap/v3-core#uniswap-v3
13. Is there a detailed report of the protocol's test results?(%)
Detailed test reports for unit tests, mythx test, fuzz tests, and more can be found at https://github.com/Uniswap/v3-core/actions/workflows/tests.yml. (you need to sign in to view the logs).
14. Has the protocol undergone Formal Verification? (Y/N)
Uniswap v3 has not undergone formal verification.
15. Were the smart contracts deployed to a testnet? (Y/N)
There is evidence of Uniswap's testnet deployments at https://github.com/Uniswap/v3-periphery/blob/main/deploys.md#deployment-addresses.
Security
99%
This section looks at the 3rd party software audits done. It is explained in this document.
16. Is the protocol sufficiently audited? (%)
Uniswap V3 1.0.0 was deployed on Mat 5th 2021. Uniswap V3 was audited by Trail of Bits on March 12th 2021. Uniswap V3 was audited by ABDK on March 23rd. Trail of bits found some high to mid severity issues, while ABDK uncovered an abnormally large number of minor issues, 159. The trail of bits audit does not specify whether the changes have been implemented.
17. Is the bounty value acceptably high (%)
This protocol offers a partially active bug bounty of up to $500K. In addition, the UNI Grants Program has pledged $1.5m to their internal bug bounty program.
Admin Controls
100%
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 is documented at this location, in their whitepaper, and in their docs. This was quick to find, however, it would be nice if all governance information was published in the same location.
19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)
Uniswap clearly details the permissionless and immutable nature of their V3 deployment here
20. Is the type of smart contract ownership clearly indicated? (%)
Smart Contracts are owned by the Uniswap governance contract, which is then controlled by UNI token holders.
21. Are the protocol's smart contract change capabilities described? (%)
Smart contract change capabilities are identified in the Uniswap V3 core whitepaper. The capabilities are as follows: - The factory is owned by UNI tokenholders, who do not have the ability to halt the operations of any core contracts. - UNI holders can turn on and off protocol fees - Once activated, UNI holders can vary the protocol fees from anywhere between 10% to 25% on a per pool basis - UNI holders can add additional fee tiers, while doing so they can also define the tickSpacing (tickSpacing is the discrete demarcations in the concentrated liquidity provision distribution that liquidity providers can choose from.) -UNI holders cannot change fee tiers and tickSpacing -UNI governance can transfer ownership to another address
22. Is the protocol's admin control information easy to understand? (%)
Uniswap makes sure that users know that the protocol is immutable and that no entity can abruptly change the parameters. Uniswap makes this information readily available in user-friendly language here.
23. Is there sufficient Pause Control documentation? (%)
Uniswap cannot be paused due to its immutable nature. This is described here.
24. Is there sufficient Timelock documentation? (%)
This protocol has timelock documentation which can be found at this location. Uniswap has a rigorous process for voting and implementing proposals.
25. Is the Timelock of an adequate length? (Y/N)
Uniswap has a hard coded minimum 48 hour timelock as outlined here.
Oracles
100%
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.
26. Is the protocol's Oracle sufficiently documented? (%)
The protocol's oracle source is documented at this location. The contracts dependent are identified. There is some relevant software function documentation.
27. Is front running mitigated by this protocol? (Y/N)
Uniswap mitigates the extent of front running attacks through a combination of TWAP and TWAL. Technical details can be found here.
28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)
This protocol does not document flashloan countermeasures. However, the inherent structure of the Uniswap TWAP makes it so that liquidity attacks are effectively mitigated via a core implementation of accumulator value checkpoints. As the price feed does not rely on a single point of data, a liquidity attack would not cause groundbreaking inaccurate prices or balances.
Appendices
1// SPDX-License-Identifier: BUSL-1.1
2pragma solidity =0.7.6;
3
4import './interfaces/IUniswapV3Factory.sol';
5
6import './UniswapV3PoolDeployer.sol';
7import './NoDelegateCall.sol';
8
9import './UniswapV3Pool.sol';
10
11/// @title Canonical Uniswap V3 factory
12/// @notice Deploys Uniswap V3 pools and manages ownership and control over pool protocol fees
13contract UniswapV3Factory is IUniswapV3Factory, UniswapV3PoolDeployer, NoDelegateCall {
14 /// @inheritdoc IUniswapV3Factory
15 address public override owner;
16
17 /// @inheritdoc IUniswapV3Factory
18 mapping(uint24 => int24) public override feeAmountTickSpacing;
19 /// @inheritdoc IUniswapV3Factory
20 mapping(address => mapping(address => mapping(uint24 => address))) public override getPool;
21
22 constructor() {
23 owner = msg.sender;
24 emit OwnerChanged(address(0), msg.sender);
25
26 feeAmountTickSpacing[500] = 10;
27 emit FeeAmountEnabled(500, 10);
28 feeAmountTickSpacing[3000] = 60;
29 emit FeeAmountEnabled(3000, 60);
30 feeAmountTickSpacing[10000] = 200;
31 emit FeeAmountEnabled(10000, 200);
32 }
33
34 /// @inheritdoc IUniswapV3Factory
35 function createPool(
36 address tokenA,
37 address tokenB,
38 uint24 fee
39 ) external override noDelegateCall returns (address pool) {
40 require(tokenA != tokenB);
41 (address token0, address token1) = tokenA < tokenB ? (tokenA, tokenB) : (tokenB, tokenA);
42 require(token0 != address(0));
43 int24 tickSpacing = feeAmountTickSpacing[fee];
44 require(tickSpacing != 0);
45 require(getPool[token0][token1][fee] == address(0));
46 pool = deploy(address(this), token0, token1, fee, tickSpacing);
47 getPool[token0][token1][fee] = pool;
48 // populate mapping in the reverse direction, deliberate choice to avoid the cost of comparing addresses
49 getPool[token1][token0][fee] = pool;
50 emit PoolCreated(token0, token1, fee, tickSpacing, pool);
51 }
52
53 /// @inheritdoc IUniswapV3Factory
54 function setOwner(address _owner) external override {
55 require(msg.sender == owner);
56 emit OwnerChanged(owner, _owner);
57 owner = _owner;
58 }
59
60 /// @inheritdoc IUniswapV3Factory
61 function enableFeeAmount(uint24 fee, int24 tickSpacing) public override {
62 require(msg.sender == owner);
63 require(fee < 1000000);
64 // tick spacing is capped at 16384 to prevent the situation where tickSpacing is so large that
65 // TickBitmap#nextInitializedTickWithinOneWord overflows int24 container from a valid tick
66 // 16384 ticks represents a >5x price change with ticks of 1 bips
67 require(tickSpacing > 0 && tickSpacing < 16384);
68 require(feeAmountTickSpacing[fee] == 0);
69
70 feeAmountTickSpacing[fee] = tickSpacing;
71 emit FeeAmountEnabled(fee, tickSpacing);
72 }
73}
JavaScript Tests
Tests to Code: 7333 / 1602 = 458 %