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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 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.dopex.io/contracts/arbitrum, as indicated in the Appendix.
2. How active is the primary contract? (%)
Contract DPX SSOV is used considerably more than 10 times a day, as indicated in the Appendix.
3. Does the protocol have a public software repository? (Y/N)
Location: https://github.com/dopex-io. However, their main strapiuct, SSOV, has its contracts behind a private repository. We will therefore consider Dopex to be a closed-source projects.
4. Is there a development history visible? (%)
No Dopex SSOV contract repository is listed. Aside from a Uniswap-V2 Oracle, this repository contains no contracts. This renders the project closed-source. No commits to contract repositories are detailed, making us unable to award points. Indeed, an audit references contracts that were once available for viewing. The contracts are thus committed but private.
5. Is the team public (not anonymous)?
Dopex's team consists of a few popular anonymous twitter personalities and others, none of which are public.
This section looks at the software documentation. The document explaining these questions is here.
6. Is there a whitepaper? (Y/N)
Location: https://docs.dopex.io/
7. Is the protocol's software architecture documented? (Y/N)
This protocol's software architecture is documented in great detail.
8. Does the software documentation fully cover the deployed contracts' source code? (%)
There is no coverage of 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 no traceability between software documentation and implemented code. No functions are listed and no code is available to cross reference this with.
10. Has the protocol tested their deployed code? (%)
It is impossible to verify code testing at this moment without any documented public contracts or indeed testing of said contracts.
11. How covered is the protocol's code? (%)
No tests for code coverage are identified.
12. Does the protocol provide scripts and instructions to run their tests? (Y/N)
No scripts are documented.
13. Is there a detailed report of the protocol's test results?(%)
No test reports were documented by Dopex.
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)
This protocol has been deployed 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? (%)
Dopex has undergone multiple pre-launch audits as it developed. A final audit was completed in June 2021, long before launch. However, since Dopex is closed source and therefore renders the audited code unavailable for comparison, we will deduct 25% from the score of this question.
17. Is the bounty value acceptably high (%)
This protocol does not offer a bug bounty.
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 not documented by Dopex.
19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)
The relevant contracts are not identified as immutable / upgradeable.
20. Is the type of smart contract ownership clearly indicated? (%)
Ownership is not indicated in Dopex's documentation. There is a Multisig address, but no details exist about it.
21. Are the protocol's smart contract change capabilities described? (%)
Smart contract change capabilities are not identified in any contracts.
22. Is the protocol's admin control information easy to understand? (%)
This information is not documented.
23. Is there sufficient Pause Control documentation? (%)
This protocol's pause control is not documented or explained.
24. Is there sufficient Timelock documentation? (%)
This protocol has no timelock documentation. A timelock.sol is deployed, though this is without documentation.
25. Is the Timelock of an adequate length? (Y/N)
The timelock is of a relevant length (at 3 days), as specified in this contract source code.
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? (%)
The protocol's oracle source is UMA. The contracts dependent are not identified. There is not relevant software function documentation.
27. Is front running mitigated by this protocol? (Y/N)
This protocol documents no front running mitigation techniques.
28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)
This protocol documents no flashloan countermeasures.
1pragma solidity ^0.8.0;
2
3/**
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42
43 ETH SINGLE STAKING OPTION VAULT V2
44 Mints covered calls while farming yield on single sided ETH staking farm
45*/
46
47// Libraries
48import {Strings} from '@openzeppelin/contracts/utils/Strings.sol';
49import {Clones} from '@openzeppelin/contracts/proxy/Clones.sol';
50import {BokkyPooBahsDateTimeLibrary} from '../../external/libraries/BokkyPooBahsDateTimeLibrary.sol';
51import {SafeERC20} from '../../external/libraries/SafeERC20.sol';
52
53// Contracts
54import {ReentrancyGuard} from '@openzeppelin/contracts/security/ReentrancyGuard.sol';
55import {ERC20PresetMinterPauserUpgradeable} from '@openzeppelin/contracts-upgradeable/token/ERC20/presets/ERC20PresetMinterPauserUpgradeable.sol';
56import {Pausable} from '@openzeppelin/contracts/security/Pausable.sol';
57import {ContractWhitelist} from '../../helper/ContractWhitelist.sol';
58
59// Interfaces
60import {IERC20} from '../../external/interfaces/IERC20.sol';
61import {IChainlinkV3Aggregator} from '../../external/interfaces/IChainlinkV3Aggregator.sol';
62import {INativeSSOV} from '../../interfaces/INativeSSOV.sol';
63import {IETHVolatilityOracle} from '../../interfaces/IETHVolatilityOracle.sol';
64import {IOptionPricing} from '../../interfaces/IOptionPricing.sol';
65import {IFeeStrategy} from '../../fees/IFeeStrategy.sol';
66
67interface IRewardsDistribution {
68 function pull(
69 uint256 epoch,
70 uint256 userDeposit,
71 uint256 totalDeposit,
72 address user
73 ) external returns (uint256, uint256);
74}
75
76contract ArbEthSSOVV2 is
77 Pausable,
78 ReentrancyGuard,
79 INativeSSOV,
80 ContractWhitelist
81{
82 using BokkyPooBahsDateTimeLibrary for uint256;
83 using Strings for uint256;
84 using SafeERC20 for IERC20;
85
86 /// @dev ERC20PresetMinterPauserUpgradeable implementation address
87 address public immutable erc20Implementation;
88
89 /// @dev Current epoch for ssov
90 uint256 public currentEpoch;
91
92 /// @dev Expire delay tolerance
93 uint256 public expireDelayTolerance = 5 minutes;
94
95 /// @dev The list of contract addresses the contract uses
96 mapping(bytes32 => address) public addresses;
97
98 /// @dev epoch => the epoch start time
99 mapping(uint256 => uint256) public epochStartTimes;
100
101 /// @notice Is epoch expired
102 /// @dev epoch => whether the epoch is expired
103 mapping(uint256 => bool) public isEpochExpired;
104
105 /// @notice Is vault ready for next epoch
106 /// @dev epoch => whether the vault is ready (boostrapped)
107 mapping(uint256 => bool) public isVaultReady;
108
109 /// @dev Mapping of strikes for each epoch
110 mapping(uint256 => uint256[]) public epochStrikes;
111
112 /// @dev Mapping of (epoch => (strike => tokens))
113 mapping(uint256 => mapping(uint256 => address)) public epochStrikeTokens;
114
115 /// @notice Total epoch deposits for specific strikes
116 /// @dev mapping (epoch => (strike => deposits))
117 mapping(uint256 => mapping(uint256 => uint256))
118 public totalEpochStrikeDeposits;
119
120 /// @notice Total epoch deposits across all strikes
121 /// @dev mapping (epoch => deposits)
122 mapping(uint256 => uint256) public totalEpochDeposits;
123
124 /// @notice Epoch deposits by user for each strike
125 /// @dev mapping (epoch => (abi.encodePacked(user, strike) => user deposits))
126 mapping(uint256 => mapping(bytes32 => uint256)) public userEpochDeposits;
127
128 /// @notice Epoch eth balance per strike after accounting for rewards
129 /// @dev mapping (epoch => (strike => balance))
130 mapping(uint256 => mapping(uint256 => uint256))
131 public totalEpochStrikeEthBalance;
132
133 // Calls purchased for each strike in an epoch
134 /// @dev mapping (epoch => (strike => calls purchased))
135 mapping(uint256 => mapping(uint256 => uint256))
136 public totalEpochCallsPurchased;
137
138 /// @notice Calls purchased by user for each strike
139 /// @dev mapping (epoch => (abi.encodePacked(user, strike) => user calls purchased))
140 mapping(uint256 => mapping(bytes32 => uint256))
141 public userEpochCallsPurchased;
142
143 /// @notice Premium collected per strike for an epoch
144 /// @dev mapping (epoch => (strike => premium))
145 mapping(uint256 => mapping(uint256 => uint256)) public totalEpochPremium;
146
147 /// @notice User premium collected per strike for an epoch
148 /// @dev mapping (epoch => (abi.encodePacked(user, strike) => user premium))
149 mapping(uint256 => mapping(bytes32 => uint256)) public userEpochPremium;
150
151 /// @dev epoch => settlement price
152 mapping(uint256 => uint256) public settlementPrices;
153
154 /*==== EVENTS ====*/
155
156 event ExpireDelayToleranceUpdate(uint256 expireDelayTolerance);
157
158 event AddressSet(bytes32 indexed name, address indexed destination);
159
160 event EmergencyWithdraw(address sender, uint256 ethWithdrawn);
161
162 event NewStrike(uint256 epoch, uint256 strike);
163
164 event Bootstrap(uint256 epoch);
165
166 event NewDeposit(
167 uint256 epoch,
168 uint256 strike,
169 uint256 amount,
170 address user,
171 address sender
172 );
173
174 event NewPurchase(
175 uint256 epoch,
176 uint256 strike,
177 uint256 amount,
178 uint256 premium,
179 uint256 fee,
180 address user,
181 address sender
182 );
183
184 event NewSettle(
185 uint256 epoch,
186 uint256 strike,
187 address user,
188 uint256 amount,
189 uint256 pnl
190 );
191
192 event NewWithdraw(
193 uint256 epoch,
194 uint256 strike,
195 address user,
196 uint256 amount,
197 uint256 ethAmount
198 );
199