If you notice some outdated information please let us know!
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. A screenshot of the contract page can be found in the appendix.
1. Are the smart contract addresses easy to find? (%)
IronBank's smart contracts can be found in their documentation here.
2. How active is the primary contract? (%)
The protocol's Unitroller contract has more than 10 transactions per week but does not go up to 10 transactions a day. The protocol earns 70% for this question. A screenshot of the transaction list can be found in the appendix.
3. Does the protocol have a public software repository? (Y/N)
The protocol's GitHub can be found here.
4. Is there a development history visible? (%)
Outside of the forked repositories within the IronBank repository, the StakingRewards repository has 36 commits and 2 branches, which scores the protocol 30.
5. Is the team public (not anonymous)?
While many contributors of Iron Bank can be found on Twitter, none of them are identified to a public identity. For that matter, the protocol will not earn points on this question.
This section looks at the software documentation. The document explaining these questions is here.
7. Is the protocol's software architecture documented? (Y/N)
There is exclusively verbal software architecture documentation within the Iron Bank GitBook. Some diagrams would go well nonetheless.
8. Does the software documentation fully cover the deployed contracts' source code? (%)
The software functions are documented here and the coverage is extensive. The protocol will earn 100% on this question.
9. Is it possible to trace the documented software to its implementation in the protocol's source code? (%)
There is implicit traceability as the function documentation can be cross-referenced with the code
10. Has the protocol tested their deployed code? (%)
Using the proprietary IronBank code, the Test-to-Code ratio is 204%. 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? (%)
Because there is no code coverage documentation nor report, the score will be based on the fact that there is a complete set of tests.
12. Does the protocol provide scripts and instructions to run their tests? (Y/N)
Scripts/Instructions location: https://github.com/ibdotxyz/compound-protocol#testing/.
13. Is there a detailed report of the protocol's test results?(%)
Iron Bank's main repository (ibdotxyz) features a Circle CI "Passed" badge which links back to test reports.
14. Has the protocol undergone Formal Verification? (Y/N)
This protocol has not undergone formal verification. While there is Medium article mentioning IronBank being verified by Trail of Bits here, there are no records or mentions within the Iron Bank documentation of this Formal Verification.
15. Were the smart contracts deployed to a testnet? (Y/N)
Kovan testnet deployments for the Optimism chain can be found here
This section looks at the 3rd party software audits done. It is explained in this document.
16. Is the protocol sufficiently audited? (%)
Iron Bank has undergone an audit by MixBytes, which is available here. The audit displays 7 vulnerabilities, out of which 5 has been resolved and two medium level risks have been acknowledged.
17. Is the bounty value acceptably high (%)
IronBank's bug bounty is set at $250,000 USD, active on Immunefi.
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?
A governance section can be found within the protocol's documentation here, explaining admin access controls.
19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)
Upgradeability is mentioned within the iToken Address page.
20. Is the type of smart contract ownership clearly indicated? (%)
Ownership is clearly indicated as OnlyOwner within the Governance section.
21. Are the protocol's smart contract change capabilities described? (%)
Change capabilities are described within the Governance page.
22. Is the protocol's admin control information easy to understand? (%)
Admin control information is described in non-software language.
23. Is there sufficient Pause Control documentation? (%)
Iron Bank's Guardian acts as Pause control. Its documentation can be found here.
24. Is there sufficient Timelock documentation? (%)
Timelock functions are provided; duration of 48 hours is explained as well and the scope of the timelocks are described within the governance page.
25. Is the Timelock of an adequate length? (Y/N)
The length of the timelock is 48 hours; this gives 100% for the protocol.
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 specifies Chainlink to be their Oracle source and specifies an example of timeframe (3600 seconds for ETH/USD) in their Oracle's section. Additional software function documentation is identified.
27. Is front running mitigated by this protocol? (Y/N)
Front running mitigation is described within the Price Oracle documentation with on-chain alternatives such as their Guardian.
28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)
Flashloan attack mitigation is described within their Oracle Latency documentation.
1// SPDX-License-Identifier: GPL-3.0-or-later
2
3pragma solidity ^0.8.2;
4
5/**
6 * @dev Interface of the ERC20 standard as defined in the EIP.
7 */
8interface IERC20 {
9 function totalSupply() external view returns (uint256);
10 function decimals() external view returns (uint8);
11 function balanceOf(address account) external view returns (uint256);
12 function transfer(address recipient, uint256 amount) external returns (bool);
13 function allowance(address owner, address spender) external view returns (uint256);
14 function approve(address spender, uint256 amount) external returns (bool);
15 function transferFrom(address sender, address recipient, uint256 amount) external returns (bool);
16 event Transfer(address indexed from, address indexed to, uint256 value);
17 event Approval(address indexed owner, address indexed spender, uint256 value);
18}
19
20/**
21 * @dev Interface of the ERC2612 standard as defined in the EIP.
22 *
23 * Adds the {permit} method, which can be used to change one's
24 * {IERC20-allowance} without having to send a transaction, by signing a
25 * message. This allows users to spend tokens without having to hold Ether.
26 *
27 * See https://eips.ethereum.org/EIPS/eip-2612.
28 */
29interface IERC2612 {
30
31 /**
32 * @dev Returns the current ERC2612 nonce for `owner`. This value must be
33 * included whenever a signature is generated for {permit}.
34 *
35 * Every successful call to {permit} increases ``owner``'s nonce by one. This
36 * prevents a signature from being used multiple times.
37 */
38 function nonces(address owner) external view returns (uint256);
39 function permit(address target, address spender, uint256 value, uint256 deadline, uint8 v, bytes32 r, bytes32 s) external;
40 function transferWithPermit(address target, address to, uint256 value, uint256 deadline, uint8 v, bytes32 r, bytes32 s) external returns (bool);
41
42}
43
44/// @dev Wrapped ERC-20 v10 (AnyswapV3ERC20) is an ERC-20 ERC-20 wrapper. You can `deposit` ERC-20 and obtain an AnyswapV3ERC20 balance which can then be operated as an ERC-20 token. You can
45/// `withdraw` ERC-20 from AnyswapV3ERC20, which will then burn AnyswapV3ERC20 token in your wallet. The amount of AnyswapV3ERC20 token in any wallet is always identical to the
46/// balance of ERC-20 deposited minus the ERC-20 withdrawn with that specific wallet.
47interface IAnyswapV3ERC20 is IERC20, IERC2612 {
48
49 /// @dev Sets `value` as allowance of `spender` account over caller account's AnyswapV3ERC20 token,
50 /// after which a call is executed to an ERC677-compliant contract with the `data` parameter.
51 /// Emits {Approval} event.
52 /// Returns boolean value indicating whether operation succeeded.
53 /// For more information on approveAndCall format, see https://github.com/ethereum/EIPs/issues/677.
54 function approveAndCall(address spender, uint256 value, bytes calldata data) external returns (bool);
55
56 /// @dev Moves `value` AnyswapV3ERC20 token from caller's account to account (`to`),
57 /// after which a call is executed to an ERC677-compliant contract with the `data` parameter.
58 /// A transfer to `address(0)` triggers an ERC-20 withdraw matching the sent AnyswapV3ERC20 token in favor of caller.
59 /// Emits {Transfer} event.
60 /// Returns boolean value indicating whether operation succeeded.
61 /// Requirements:
62 /// - caller account must have at least `value` AnyswapV3ERC20 token.
63 /// For more information on transferAndCall format, see https://github.com/ethereum/EIPs/issues/677.
64 function transferAndCall(address to, uint value, bytes calldata data) external returns (bool);
65}
66
67interface ITransferReceiver {
68 function onTokenTransfer(address, uint, bytes calldata) external returns (bool);
69}
70
71interface IApprovalReceiver {
72 function onTokenApproval(address, uint, bytes calldata) external returns (bool);
73}
74
75library Address {
76 function isContract(address account) internal view returns (bool) {
77 bytes32 codehash;
78 bytes32 accountHash = 0xc5d2460186f7233c927e7db2dcc703c0e500b653ca82273b7bfad8045d85a470;
79 // solhint-disable-next-line no-inline-assembly
80 assembly { codehash := extcodehash(account) }
81 return (codehash != 0x0 && codehash != accountHash);
82 }
83}
84
85library SafeERC20 {
86 using Address for address;
87
88 function safeTransfer(IERC20 token, address to, uint value) internal {
89 callOptionalReturn(token, abi.encodeWithSelector(token.transfer.selector, to, value));
90 }
91
92 function safeTransferFrom(IERC20 token, address from, address to, uint value) internal {
93 callOptionalReturn(token, abi.encodeWithSelector(token.transferFrom.selector, from, to, value));
94 }
95
96 function safeApprove(IERC20 token, address spender, uint value) internal {
97 require((value == 0) || (token.allowance(address(this), spender) == 0),
98 "SafeERC20: approve from non-zero to non-zero allowance"
99 );
100 callOptionalReturn(token, abi.encodeWithSelector(token.approve.selector, spender, value));
101 }
102 function callOptionalReturn(IERC20 token, bytes memory data) private {
103 require(address(token).isContract(), "SafeERC20: call to non-contract");
104
105 // solhint-disable-next-line avoid-low-level-calls
106 (bool success, bytes memory returndata) = address(token).call(data);
107 require(success, "SafeERC20: low-level call failed");
108
109 if (returndata.length > 0) { // Return data is optional
110 // solhint-disable-next-line max-line-length
111 require(abi.decode(returndata, (bool)), "SafeERC20: ERC20 operation did not succeed");
112 }
113 }
114}
115
116contract AnyswapV6ERC20 is IAnyswapV3ERC20 {
117 using SafeERC20 for IERC20;
118 string public name;
119 string public symbol;
120 uint8 public immutable override decimals;
121
122 address public immutable underlying;
123
124 bytes32 public constant PERMIT_TYPEHASH = keccak256("Permit(address owner,address spender,uint256 value,uint256 nonce,uint256 deadline)");
125 bytes32 public constant TRANSFER_TYPEHASH = keccak256("Transfer(address owner,address to,uint256 value,uint256 nonce,uint256 deadline)");
126 bytes32 public immutable DOMAIN_SEPARATOR;
127
128 /// @dev Records amount of AnyswapV3ERC20 token owned by account.
129 mapping (address => uint256) public override balanceOf;
130 uint256 private _totalSupply;
131
132 // init flag for setting immediate vault, needed for CREATE2 support
133 bool private _init;
134
135 // flag to enable/disable swapout vs vault.burn so multiple events are triggered
136 bool private _vaultOnly;
137
138 // configurable delay for timelock functions
139 uint public delay = 2*24*3600;
140
141
142 // set of minters, can be this bridge or other bridges
143 mapping(address => bool) public isMinter;
144 address[] public minters;
145
146 // primary controller of the token contract
147 address public vault;
148
149 address public pendingMinter;
150 uint public delayMinter;
151
152 address public pendingVault;
153 uint public delayVault;
154
155 modifier onlyAuth() {
156 require(isMinter[msg.sender], "AnyswapV4ERC20: FORBIDDEN");
157 _;
158 }
159
160 modifier onlyVault() {
161 require(msg.sender == mpc(), "AnyswapV3ERC20: FORBIDDEN");
162 _;
163 }
164
165 function owner() public view returns (address) {
166 return mpc();
167 }
168
169 function mpc() public view returns (address) {
170 if (block.timestamp >= delayVault) {
171 return pendingVault;
172 }
173 return vault;
174 }
Tests to Code: 5746 / 2814 = 204 %