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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? (%)
Angle's smart contracts can be easily found within their developer docs, which are easy to find. A screenshot of smart contract addresses can be found in the appendix.
2. How active is the primary contract? (%)
Angle's agEUR contract is active with more than 10 transactions a week, but less than 10 transactions a day, earning the protocol a 70%. A screenshof of the transaction dashboard is available within the appendix.
3. Does the protocol have a public software repository? (Y/N)
Angle Protocol's software repository can be found on their GitHub.
4. Is there a development history visible? (%)
Angle's sdk repository logged in a total of 172 commits as well as 5 different branches. This earns the protocol 100%.
5. Is the team public (not anonymous)?
The Angle team can be found publicly on their LinkedIn page. More than 2 people are publicly tied to the protocol, scoring the latter 100%. A screenshot of the page is available within the appendix.
This section looks at the software documentation. The document explaining these questions is here.
6. Is there a whitepaper? (Y/N)
7. Is the protocol's software architecture documented? (Y/N)
The protocol's software architecture is documented within its GitHub through diagrams and written explanations.
8. Does the software documentation fully cover the deployed contracts' source code? (%)
Angle Protocol's smart contract documentation offers complete coverage. However, the contract source links for the Borrowing Module redirect to a 404 error page. This will be corrected. PSA: Angle's Architecture module redirect to this link https://github.com/AngleProtocol/angle-borrow which leads to a 404 page as well.
9. Is it possible to trace the documented software to its implementation in the protocol's source code? (%)
Angle's smart contract documentation offers explicit traceability across every smart contracts, which is a great feature for smart contract code documentation.
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 230% testing to code (TtC). The angle-strategies repository and angle-borrow repository were used for 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? (%)
Angle offers a coverage folder that displays extensive test coverage; because there is great coverage but no specific % display and coverage readable documentation, the protocol will earn 80%.
12. Does the protocol provide scripts and instructions to run their tests? (Y/N)
Scripts for the angle-strategies repository can be found in their README.md and the angle-borrow instructions can be found at the same place.
13. Is there a detailed report of the protocol's test results?(%)
There is testing report evidence within the actions tab from the angle-borrow repository as well as angle-strategies. SigmaPrime audit test evidence can be found in this link as well for further evidence: https://924174234-files.gitbook.io/~/files/v0/b/gitbook-x-strapi.appspot.com/o/spaces%2F-MZrRrYejMtN3SzZU10r%2Fuploads%2Fgit-blob-d8ac640f964f9da5c79f2cff8727bc27ada250f7%2Fsp.pdf?alt=media
14. Has the protocol undergone Formal Verification? (Y/N)
Angle Protocol has not undergone Formal Verification.
15. Were the smart contracts deployed to a testnet? (Y/N)
Rinkeby deployment addresses can be found in the deployments repository.
This section looks at the 3rd party software audits done. It is explained in this document.
16. Is the protocol sufficiently audited? (%)
SigmaPrime and Chainsecurity audits have been performed before launch and Chainsecurity offers extensive audits at different timeframes, earning the protocol a 100%.
17. Is the bounty value acceptably high (%)
Angle Protocol has a $500 000 active bounty on ImmuneFi, available here.
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?
Angle's admin control information can be found in the Governance segment of its GitBook.
19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)
Each contract's documentation and code mention upgradeability, earning the protocol a 100%. Reference: StableMaster's contract details display upgradeability and its code mentions upgradeable with access controls.
20. Is the type of smart contract ownership clearly indicated? (%)
Smart contract ownership for the Angle protocol is indicated as MultiSig in the Governance section of the documentation.
21. Are the protocol's smart contract change capabilities described? (%)
Each smart contract documentation provides immutable and upgradeable parameters as well as access control capabilities. Reference: FeeManager
22. Is the protocol's admin control information easy to understand? (%)
Every parameter and documentation is easy to understand for end users.
23. Is there sufficient Pause Control documentation? (%)
Angle's Pause Control feature is named "Guardian". The responsibilities and functionalities of pause controls is well documented. After communication with developers, the latter provided us with an on-chain guardian transaction unpausing contracts here. Pause tests in the angle-borrow contracts can be found in their code here.
24. Is there sufficient Timelock documentation? (%)
Angle protocol clearly underlines why they do not need extensive timelock requirements in their general proposals section. Due to their MultiSig governance model, every protocol proposals have a de facto timelock, which earns the protocol 100%
25. Is the Timelock of an adequate length? (Y/N)
Because there is a justification as to why no timelock documentation is needed, this question also scores 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. These questions are explained in this document.
26. Is the protocol's Oracle sufficiently documented? (%)
Angle provides documentation on their Oracles within their whitepaper , mentioned the source, time window and basic software functions. Additionally, affected smart contracts can be found under their Oracles section in the global glossary. These documentation efforts give the protocol 100%.
27. Is front running mitigated by this protocol? (Y/N)
Frontrunning mitigation techniques are mentioned within the Angle WP documentation's fourth page here.
28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)
Flashloan attack mitigation techniques are mentioned within the Angle WP documentation's 4th page here.
1// SPDX-License-Identifier: GPL-3.0
2
3pragma solidity ^0.8.7;
4
5import "./CoreEvents.sol";
6
7/// @title Core
8/// @author Angle Core Team
9/// @notice Keeps track of all the `StableMaster` contracts and facilitates governance by allowing the propagation
10/// of changes across most contracts of the protocol (does not include oracle contract, `RewardsDistributor`, and some
11/// other side contracts like `BondingCurve` or `CollateralSettler`)
12contract Core is CoreEvents, ICore {
13 /// @notice Map to track the addresses with a `GOVERNOR_ROLE` within Angle protocol
14 mapping(address => bool) public governorMap;
15
16 /// @notice Map to track the addresses of the `stableMaster` contracts that have already been deployed
17 /// This is used to avoid deploying a revoked `stableMaster` contract again and hence potentially creating
18 /// inconsistencies in the `GOVERNOR_ROLE` and `GUARDIAN_ROLE` of this `stableMaster`
19 mapping(address => bool) public deployedStableMasterMap;
20
21 /// @notice Address of the guardian, it can be revoked by Angle's governance
22 /// The protocol has only one guardian address
23 address public override guardian;
24
25 /// @notice List of the addresses of the `StableMaster` contracts accepted by the system
26 address[] internal _stablecoinList;
27
28 // List of all the governor addresses of Angle's protocol
29 // Initially only the timelock will be appointed governor but new addresses can be added along the way
30 address[] internal _governorList;
31
32 /// @notice Checks to see if the caller is a `governor`
33 /// The reason for having such modifiers rather than OpenZeppelin's Access Control logic is to make
34 /// sure that governors cannot bypass the `addGovernor` or `revokeGovernor` functions
35 modifier onlyGovernor() {
36 require(governorMap[msg.sender], "1");
37 _;
38 }
39
40 /// @notice Checks to see if the caller is a `guardian` or a `governor`
41 /// Same here, we do not use OpenZeppelin's Access Control logic to make sure that the `guardian`
42 /// cannot bypass the functions defined on purpose in this contract
43 modifier onlyGuardian() {
44 require(governorMap[msg.sender] || msg.sender == guardian, "1");
45 _;
46 }
47
48 /// @notice Checks if the new address given is not null
49 /// @param newAddress Address to check
50 modifier zeroCheck(address newAddress) {
51 require(newAddress != address(0), "0");
52 _;
53 }
54
55 // =============================== CONSTRUCTOR =================================
56
57 /// @notice Initializes the `Core` contract
58 /// @param _governor Address of the governor
59 /// @param _guardian Address of the guardian
60 constructor(address _governor, address _guardian) {
61 // Creating references
62 require(_guardian != address(0) && _governor != address(0), "0");
63 require(_guardian != _governor, "39");
64 _governorList.push(_governor);
65 guardian = _guardian;
66 governorMap[_governor] = true;
67
68 emit GovernorRoleGranted(_governor);
69 emit GuardianRoleChanged(address(0), _guardian);
70 }
71
72 // ========================= GOVERNOR FUNCTIONS ================================
73
74 // ======================== Interactions with `StableMasters` ==================
75
76 /// @notice Changes the `Core` contract of the protocol
77 /// @param newCore Address of the new `Core` contract
78 /// @dev To maintain consistency, checks are performed. The governance of the new `Core`
79 /// contract should be exactly the same as this one, and the `_stablecoinList` should be
80 /// identical
81 function setCore(ICore newCore) external onlyGovernor zeroCheck(address(newCore)) {
82 require(address(this) != address(newCore), "40");
83 require(guardian == newCore.guardian(), "41");
84 // The length of the lists are stored as cache variables to avoid duplicate reads in storage
85 // Checking the consistency of the `_governorList` and of the `_stablecoinList`
86 uint256 governorListLength = _governorList.length;
87 address[] memory _newCoreGovernorList = newCore.governorList();
88 uint256 stablecoinListLength = _stablecoinList.length;
89 address[] memory _newStablecoinList = newCore.stablecoinList();
90 require(
91 governorListLength == _newCoreGovernorList.length && stablecoinListLength == _newStablecoinList.length,
92 "42"
93 );
94 uint256 indexMet;
95 for (uint256 i = 0; i < governorListLength; i++) {
96 if (!governorMap[_newCoreGovernorList[i]]) {
97 indexMet = 1;
98 break;
99 }
100 }
101 for (uint256 i = 0; i < stablecoinListLength; i++) {
102 // The stablecoin lists should preserve exactly the same order of elements
103 if (_stablecoinList[i] != _newStablecoinList[i]) {
104 indexMet = 1;
105 break;
106 }
107 }
108 // Only performing one require, hence making it cheaper for a governance with a correct initialization
109 require(indexMet == 0, "43");
110 // Propagates the change
111 for (uint256 i = 0; i < stablecoinListLength; i++) {
112 IStableMaster(_stablecoinList[i]).setCore(address(newCore));
113 }
114 emit CoreChanged(address(newCore));
115 }
116
117 /// @notice Adds a new stablecoin to the system
118 /// @param agToken Address of the new `AgToken` contract
119 /// @dev To maintain consistency, the address of the `StableMaster` contract corresponding to the
120 /// `AgToken` is automatically retrieved
121 /// @dev The `StableMaster` receives the reference to the governor and guardian addresses of the protocol
122 /// @dev The `AgToken` and `StableMaster` contracts should have previously been initialized with correct references
123 /// in it, with for the `StableMaster` a reference to the `Core` contract and for the `AgToken` a reference to the
124 /// `StableMaster`
125 function deployStableMaster(address agToken) external onlyGovernor zeroCheck(agToken) {
126 address stableMaster = IAgToken(agToken).stableMaster();
127 // Checking if `stableMaster` has not already been deployed
128 require(!deployedStableMasterMap[stableMaster], "44");
129
130 // Storing and initializing information about the stablecoin
131 _stablecoinList.push(stableMaster);
132 // Adding this `stableMaster` in the `deployedStableMasterMap`: it is not going to be possible
133 // to revoke and then redeploy this contract
134 deployedStableMasterMap[stableMaster] = true;
135
136 IStableMaster(stableMaster).deploy(_governorList, guardian, agToken);
137
138 emit StableMasterDeployed(address(stableMaster), agToken);
139 }
140
141 /// @notice Revokes a `StableMaster` contract
142 /// @param stableMaster Address of the `StableMaster` to revoke
143 /// @dev This function just removes a `StableMaster` contract from the `_stablecoinList`
144 /// @dev The consequence is that the `StableMaster` contract will no longer be affected by changes in
145 /// governor or guardian occuring from the protocol
146 /// @dev This function is mostly here to clean the mappings and save some storage space
147 function revokeStableMaster(address stableMaster) external override onlyGovernor {
148 uint256 stablecoinListLength = _stablecoinList.length;
149 // Checking if `stableMaster` is correct and removing the stablecoin from the `_stablecoinList`
150 require(stablecoinListLength >= 1, "45");
151 uint256 indexMet;
152 for (uint256 i = 0; i < stablecoinListLength - 1; i++) {
153 if (_stablecoinList[i] == stableMaster) {
154 indexMet = 1;
155 _stablecoinList[i] = _stablecoinList[stablecoinListLength - 1];
156 break;
157 }
158 }
159 require(indexMet == 1 || _stablecoinList[stablecoinListLength - 1] == stableMaster, "45");
160 _stablecoinList.pop();
161 // Deleting the stablecoin from the list
162 emit StableMasterRevoked(stableMaster);
163 }
164
165 // =============================== Access Control ==============================
166 // The following functions do not propagate the changes they induce to some bricks of the protocol
167 // like the `CollateralSettler`, the `BondingCurve`, the staking and rewards distribution contracts
168 // and the oracle contracts using Uniswap. Governance should be wary when calling these functions and
169 // make equivalent changes in these contracts to maintain consistency at the scale of the protocol
170
171 /// @notice Adds a new governor address
172 /// @param _governor New governor address
173 /// @dev This function propagates the new governor role across most contracts of the protocol
174 /// @dev Governor is also guardian everywhere in all contracts
175 function addGovernor(address _governor) external override onlyGovernor zeroCheck(_governor) {
176 require(!governorMap[_governor], "46");
177 governorMap[_governor] = true;
178 _governorList.push(_governor);
179 // Propagates the changes to maintain consistency across all the contracts that are attached to this
180 // `Core` contract
181 for (uint256 i = 0; i < _stablecoinList.length; i++) {
182 // Since a zero address check has already been performed in this contract, there is no need
183 // to repeat this check in underlying contracts
184 IStableMaster(_stablecoinList[i]).addGovernor(_governor);
185 }
186
187 emit GovernorRoleGranted(_governor);
188 }
189
190 /// @notice Removes a governor address
191 /// @param _governor Governor address to remove
192 /// @dev There must always be one governor in the protocol
193 function removeGovernor(address _governor) external override onlyGovernor {
194 // Checking if removing the governor will leave with at least more than one governor
195 uint256 governorListLength = _governorList.length;
196 require(governorListLength > 1, "47");
197 // Removing the governor from the list of governors
198 // We still need to check if the address provided was well in the list
199 uint256 indexMet;
200 for (uint256 i = 0; i < governorListLength - 1; i++) {
201 if (_governorList[i] == _governor) {
202 indexMet = 1;
203 _governorList[i] = _governorList[governorListLength - 1];
204 break;
205 }
206 }
207 require(indexMet == 1 || _governorList[governorListLength - 1] == _governor, "48");
208 _governorList.pop();
209 // Once it has been checked that the given address was a correct address, we can proceed to other changes
210 delete governorMap[_governor];
211 // Maintaining consistency across all contracts
212 for (uint256 i = 0; i < _stablecoinList.length; i++) {
213 // We have checked in this contract that the mentionned `_governor` here was well a governor
214 // There is no need to check this in the underlying contracts where this is going to be updated
215 IStableMaster(_stablecoinList[i]).removeGovernor(_governor);
216 }
217
218 emit GovernorRoleRevoked(_governor);
219 }
220
221 // ============================== GUARDIAN FUNCTIONS ===========================
222
223 /// @notice Changes the guardian address
224 /// @param _newGuardian New guardian address
225 /// @dev Guardian is able to change by itself the address corresponding to its role
226 /// @dev There can only be one guardian address in the protocol
227 /// @dev The guardian address cannot be a governor address
228 function setGuardian(address _newGuardian) external override onlyGuardian zeroCheck(_newGuardian) {
229 require(!governorMap[_newGuardian], "39");
230 require(guardian != _newGuardian, "49");
231 address oldGuardian = guardian;
232 guardian = _newGuardian;
233 for (uint256 i = 0; i < _stablecoinList.length; i++) {
234 IStableMaster(_stablecoinList[i]).setGuardian(_newGuardian, oldGuardian);
235 }
236 emit GuardianRoleChanged(oldGuardian, _newGuardian);
237 }
238
239 /// @notice Revokes the guardian address
240 /// @dev Guardian is able to auto-revoke itself
241 /// @dev There can only be one `guardian` address in the protocol
242 function revokeGuardian() external override onlyGuardian {
243 address oldGuardian = guardian;
244 guardian = address(0);
245 for (uint256 i = 0; i < _stablecoinList.length; i++) {
246 IStableMaster(_stablecoinList[i]).revokeGuardian(oldGuardian);
247 }
248 emit GuardianRoleChanged(oldGuardian, address(0));
249 }
250
251 // ========================= VIEW FUNCTIONS ====================================
252
253 /// @notice Returns the list of all the governor addresses of the protocol
254 /// @return `_governorList`
255 /// @dev This getter is used by `StableMaster` contracts deploying new collateral types
256 /// and initializing them with correct references
257 function governorList() external view override returns (address[] memory) {
258 return _governorList;
259 }
260
261 /// @notice Returns the list of all the `StableMaster` addresses of the protocol
262 /// @return `_stablecoinList`
263 /// @dev This getter is used by the `Core` contract when setting a new `Core`
264 function stablecoinList() external view override returns (address[] memory) {
265 return _stablecoinList;
266 }
267}
Tests to Code: 17685 / 7700 = 230 %