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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? (%)
Contract addresses can be quickly found in Goldfinch's developer documentation.
2. How active is the primary contract? (%)
Some relevant contracts were located via etherscan. A Goldfinch-specific NFT contract relating to identity receives more than 10 transactions per week.
3. Does the protocol have a public software repository? (Y/N)
Location: https://github.com/goldfinch-eng
4. Is there a development history visible? (%)
At an astonishing 3458 commits, this repository is one of the most well maintained testaments to developer history we've ever seen - it is truly golden.
5. Is the team public (not anonymous)?
Many contributors to Goldfinch are public and they cross-confirm their commitment to the protocol on personal social media.
This section looks at the software documentation. The document explaining these questions is here.
6. Is there a whitepaper? (Y/N)
Location: https://docs.goldfinch.finance/goldfinch/
7. Is the protocol's software architecture documented? (Y/N)
Goldfinch's software architecture is detailed at https://github.com/goldfinch-eng/mono/blob/main/ARCHITECTURE.md.
8. Does the software documentation fully cover the deployed contracts' source code? (%)
Goldfinch details each contract function in their documentation.
9. Is it possible to trace the documented software to its implementation in the protocol's source code? (%)
Goldfinch lists each contract's source code location (GitHub) next to each contract's documentation. This is perfect traceability.
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 329% 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? (%)
This protocol does not detail code coverage testing. There is nonetheless evidence of robust testing undertaken on this protocol.
12. Does the protocol provide scripts and instructions to run their tests? (Y/N)
Scripts/Instructions location: https://github.com/goldfinch-eng/mono
13. Is there a detailed report of the protocol's test results?(%)
Multiple test reports are documented in their Monorepository's CLI.
14. Has the protocol undergone Formal Verification? (Y/N)
This protocol has not undergone formal verification.
15. Were the smart contracts deployed to a testnet? (Y/N)
Goldfinch has documented deployment to two testnets.
This section looks at the 3rd party software audits done. It is explained in this document.
16. Is the protocol sufficiently audited? (%)
This protocol has undergone multiple audits, though it is unclear when the protocol launched. While the token launch is documented, the lending borrowing aspect is of an undocumented time origin. It is that each iteration is being audited nonetheless with V1, V2 and V2.2s all receiving separate audits.
17. Is the bounty value acceptably high (%)
This protocol offers an active bug bounty of $500K
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 easily and quickly found at https://docs.goldfinch.finance/goldfinch/governance.
19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)
Goldfinch's contracts are clearly identified in this location. Each contract that is either upgradeable or fixed is well explained for users to identify.
20. Is the type of smart contract ownership clearly indicated? (%)
Goldfinch's smart contract ownership is adequately detailed as being a 6-of-10 MultiSig here.
21. Are the protocol's smart contract change capabilities described? (%)
Change capabilities are clearly identified in each contract's software function documentation. This could be explained in plainer language, but the information is all present.
22. Is the protocol's admin control information easy to understand? (%)
Admin Control information is largely easy to understand.
23. Is there sufficient Pause Control documentation? (%)
The ability for the DAO to pause smart contracts is detailed at https://docs.goldfinch.finance/goldfinch/governance. In addition, there is a good pausability section in their documentation that details which circumstances it should be triggered under. There is no mention on tests.
24. Is there sufficient Timelock documentation? (%)
Goldfinch does not use a timelock, and this is explained in their documentation. This is justified on the grounds that their multisig is sufficiently stringent.
25. Is the Timelock of an adequate length? (Y/N)
Timelocks are not used by Goldfinch, and this is explained in their documentation.
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. These questions are explained in this document.
26. Is the protocol's Oracle sufficiently documented? (%)
Goldfinch does not use oracles. This is explained in their documentation here. Instead, their protocol relies on specific non-transferable UID tokens based on identity requirements.
27. Is front running mitigated by this protocol? (Y/N)
Front-running is considered in their documentation. Due to the permissioned nature of the protocol, front running is mitigated. This is an impressive breakdown of how this might be countered. Users should feel like this protocol has done a significant amount of security researching - we've never seen this attack vector so carefully considered.
28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)
Goldfinch is not vulnerable to flashloan attack. This is because they are mitigated by Goldfinch's design (i.e. a 0.5% withdrawal fee). The team should be commended for an incredibly in-depth explanation as to how these attacks might occur and why Goldfinch is prepared to counter them. This is a sign of great processes and intelligent security analysis.
1// SPDX-License-Identifier: MIT
2
3pragma solidity 0.6.12;
4pragma experimental ABIEncoderV2;
5
6import "@openzeppelin/contracts-ethereum-package/contracts/math/SafeMath.sol";
7
8import "./BaseUpgradeablePausable.sol";
9import "./ConfigHelper.sol";
10import "../../interfaces/IGo.sol";
11import "../../interfaces/IUniqueIdentity0612.sol";
12
13contract Go is IGo, BaseUpgradeablePausable {
14 address public override uniqueIdentity;
15
16 using SafeMath for uint256;
17
18 GoldfinchConfig public config;
19 using ConfigHelper for GoldfinchConfig;
20
21 GoldfinchConfig public legacyGoList;
22 uint256[11] public allIdTypes;
23 event GoldfinchConfigUpdated(address indexed who, address configAddress);
24
25 function initialize(
26 address owner,
27 GoldfinchConfig _config,
28 address _uniqueIdentity
29 ) public initializer {
30 require(
31 owner != address(0) && address(_config) != address(0) && _uniqueIdentity != address(0),
32 "Owner and config and UniqueIdentity addresses cannot be empty"
33 );
34 __BaseUpgradeablePausable__init(owner);
35 _performUpgrade();
36 config = _config;
37 uniqueIdentity = _uniqueIdentity;
38 }
39
40 function updateGoldfinchConfig() external override onlyAdmin {
41 config = GoldfinchConfig(config.configAddress());
42 emit GoldfinchConfigUpdated(msg.sender, address(config));
43 }
44
45 function performUpgrade() external onlyAdmin {
46 return _performUpgrade();
47 }
48
49 function _performUpgrade() internal {
50 allIdTypes[0] = ID_TYPE_0;
51 allIdTypes[1] = ID_TYPE_1;
52 allIdTypes[2] = ID_TYPE_2;
53 allIdTypes[3] = ID_TYPE_3;
54 allIdTypes[4] = ID_TYPE_4;
55 allIdTypes[5] = ID_TYPE_5;
56 allIdTypes[6] = ID_TYPE_6;
57 allIdTypes[7] = ID_TYPE_7;
58 allIdTypes[8] = ID_TYPE_8;
59 allIdTypes[9] = ID_TYPE_9;
60 allIdTypes[10] = ID_TYPE_10;
61 }
62
63 /**
64 * @notice sets the config that will be used as the source of truth for the go
65 * list instead of the config currently associated. To use the associated config for to list, set the override
66 * to the null address.
67 */
68 function setLegacyGoList(GoldfinchConfig _legacyGoList) external onlyAdmin {
69 legacyGoList = _legacyGoList;
70 }
71
72 /**
73 * @notice Returns whether the provided account is go-listed for use of the Goldfinch protocol
74 * for any of the UID token types.
75 * This status is defined as: whether `balanceOf(account, id)` on the UniqueIdentity
76 * contract is non-zero (where `id` is a supported token id on UniqueIdentity), falling back to the
77 * account's status on the legacy go-list maintained on GoldfinchConfig.
78 * @param account The account whose go status to obtain
79 * @return The account's go status
80 */
81 function go(address account) public view override returns (bool) {
82 require(account != address(0), "Zero address is not go-listed");
83
84 if (_getLegacyGoList().goList(account) || IUniqueIdentity0612(uniqueIdentity).balanceOf(account, ID_TYPE_0) > 0) {
85 return true;
86 }
87
88 // start loop at index 1 because we checked index 0 above
89 for (uint256 i = 1; i < allIdTypes.length; ++i) {
90 uint256 idTypeBalance = IUniqueIdentity0612(uniqueIdentity).balanceOf(account, allIdTypes[i]);
91 if (idTypeBalance > 0) {
92 return true;
93 }
94 }
95 return false;
96 }
97
98 /**
99 * @notice Returns whether the provided account is go-listed for use of the Goldfinch protocol
100 * for defined UID token types
101 * @param account The account whose go status to obtain
102 * @param onlyIdTypes Array of id types to check balances
103 * @return The account's go status
104 */
105 function goOnlyIdTypes(address account, uint256[] memory onlyIdTypes) public view override returns (bool) {
106 require(account != address(0), "Zero address is not go-listed");
107 GoldfinchConfig goListSource = _getLegacyGoList();
108 for (uint256 i = 0; i < onlyIdTypes.length; ++i) {
109 if (onlyIdTypes[i] == ID_TYPE_0 && goListSource.goList(account)) {
110 return true;
111 }
112 uint256 idTypeBalance = IUniqueIdentity0612(uniqueIdentity).balanceOf(account, onlyIdTypes[i]);
113 if (idTypeBalance > 0) {
114 return true;
115 }
116 }
117 return false;
118 }
119
120 /**
121 * @notice Returns whether the provided account is go-listed for use of the SeniorPool on the Goldfinch protocol.
122 * @param account The account whose go status to obtain
123 * @return The account's go status
124 */
125 function goSeniorPool(address account) public view override returns (bool) {
126 require(account != address(0), "Zero address is not go-listed");
127 if (account == config.stakingRewardsAddress() || _getLegacyGoList().goList(account)) {
128 return true;
129 }
130 uint256[2] memory seniorPoolIdTypes = [ID_TYPE_0, ID_TYPE_1];
131 for (uint256 i = 0; i < seniorPoolIdTypes.length; ++i) {
132 uint256 idTypeBalance = IUniqueIdentity0612(uniqueIdentity).balanceOf(account, seniorPoolIdTypes[i]);
133 if (idTypeBalance > 0) {
134 return true;
135 }
136 }
137 return false;
138 }
139
140 function _getLegacyGoList() internal view returns (GoldfinchConfig) {
141 return address(legacyGoList) == address(0) ? config : legacyGoList;
142 }
143}
Tests to Code: 11278 / 3425 = 329 %