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Process Quality Review (0.8)
Maple V2.0
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
97%
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 the footer of the website under "Smart Contract Addresses" and in the GitBook, as indicated in the Appendix.
2. How active is the primary contract? (%)
Contract 0x833A5c9Fc016a87419D21B10B64e24082Bd1e49d the "Maven11 WETH Pool Contracts Proxy Manager" is used 1 to 3 times a day, as indicated in the Appendix.
3. Does the protocol have a public software repository? (Y/N)
The Github is at https://github.com/maple-labs/maple-core-v2
4. Is there a development history visible? (%)
With 2 branches and 179 commits, this is an active repo.
5. Is the team public (not anonymous)?
The team page is at https://www.maple.finance/#team. The are public.
Documentation
89%
This section looks at the software documentation. The document explaining these questions is here.
7. Is the protocol's software architecture documented? (Y/N)
This protocol's software architecture is documented in https://maplefinance.gitbook.io/maple/technical-resources/protocol-overview/smart-contract-architecture.
8. Does the software documentation fully cover the deployed contracts' source code? (%)
The Maple 2.0 code is well documented in a disconnected kind of way. There is an excellent architecture and overall description section In the "Protocol Overview" section. There are a detailed sections on Loans, Pools and admin functions. This documentation often refers to variables but only occasionally directly refers to the code. It discusses the actions of the code base very clearly but does not refer directly to the software code that implements it. Then the actual software has reasonably robust software documentation. The result is quite complete documentation that is rather disconnected from the code. As the documentation is clearly covering all the code, we will give 100% for this question and remove points for traceability later.
9. Is it possible to trace the documented software to its implementation in the protocol's source code? (%)
There is minimal traceability between software documentation and implemented code. For the reasons described in Question 8 it is difficult to connect the comprehensive documentation to the actual code that implements it. Connection has to be done manually. For this reason a score of 20% is given.
Testing
70%
10. Has the protocol tested their deployed code? (%)
Code examples are in the Appendix at the end of this report.. As per the data below, there is 312% 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. TtC = 45787 / 14677 = 312% ─────────────────────────────────────────────────────────────────────────────── Language Files Lines Blanks Comments Code Complexity ─────────────────────────────────────────────────────────────────────────────── JavaScript 78 14677 3448 1418 9811 837 ─────────────────────────────────────────────────────────────────────────────── Total 78 14677 3448 1418 9811 837 ─────────────────────────────────────────────────────────────────────────────── Estimated Cost to Develop $297,094 Estimated Schedule Effort 8.671892 months Estimated People Required 3.043661 ─────────────────────────────────────────────────────────────────────────────── Processed 648515 bytes, 0.649 megabytes (SI) ─────────────────────────────────────────────────────────────────────────────── ─────────────────────────────────────────────────────────────────────────────── Language Files Lines Blanks Comments Code Complexity ─────────────────────────────────────────────────────────────────────────────── JavaScript 85 45761 11149 3068 31544 287 Shell 1 26 3 1 22 3 ─────────────────────────────────────────────────────────────────────────────── Total 86 45787 11152 3069 31566 290 ─────────────────────────────────────────────────────────────────────────────── Estimated Cost to Develop $1,013,388 Estimated Schedule Effort 13.823209 months Estimated People Required 6.513027 ───────────────────────────────────────────────────────────────────────────────
11. How covered is the protocol's code? (%)
No code coverage results found. So 50% score as per guidance, since there is a comprehensive test suite.
12. Does the protocol provide scripts and instructions to run their tests? (Y/N)
Scripts/Instructions location: https://github.com/maple-labs/maple-core-v2/tree/main/scripts (and others)
13. Is there a detailed report of the protocol's test results?(%)
Test report given at https://maplefinance.gitbook.io/maple/technical-resources/security/test-report.
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 no evidence been deployed to a testnet.
Security
99%
This section looks at the 3rd party software audits done. It is explained in this document.
16. Is the protocol sufficiently audited? (%)
There are 3 audits conducted on Maple V2, links below. All had corrections implemented before deployment. 1) https://docs.google.com/viewer?url=https://github.com/maple-labs/maple-v2-audits/files/10246688/Maple.Finance.v2.-.Final.Report.-.Fixed.-.2022.pdf 2. https://docs.google.com/viewer?url=https://github.com/maple-labs/maple-v2-audits/files/10246688/Maple.Finance.v2.-.Final.Report.-.Fixed.-.2022.pdf 3. https://docs.google.com/viewer?url=https://github.com/maple-labs/maple-v2-audits/files/10223541/three-sigma_maple-finance_code-audit_v1.1.1.pdf
17. Is the bounty value acceptably high (%)
This protocol offers an (active bug bounty of $500K
Admin Controls
93%
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 documented at this location. It was quick to find.
19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)
The relevant contracts are identified as upgradeable, as identified here.
20. Is the type of smart contract ownership clearly indicated? (%)
Ownership is via multisigs and is clearly indicated in this location.
21. Are the protocol's smart contract change capabilities described? (%)
Smart contract change capabilities are clearly identified for all contracts.
22. Is the protocol's admin control information easy to understand? (%)
This information is in clear and understandable language. As per guidance, 90% score.
23. Is there sufficient Pause Control documentation? (%)
This protocol's pause control is documented and explained in this location. There is no evidence of testing.
24. Is there sufficient Timelock documentation? (%)
This protocol has good timelock documentation which can be found at this location.
25. Is the Timelock of an adequate length? (Y/N)
The timelock is of a 2 week relevant length, as specified in this location.. While 2 weeks according to guidance gives a 50% score, in this market which is slower than many others in DeFi, we feel 2 weeks is acceptable.
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. These questions are explained in this document.
26. Is the protocol's Oracle sufficiently documented? (%)
The protocol's oracle source is documented at this location. The contracts dependent are clearly identified. There is relevant software function documentation.
27. Is front running mitigated by this protocol? (Y/N)
This protocol documents describes front running mitigation techniques here.
28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)
This protocol documents describes flash loan mitigation techniques here with respect to the initial funding of a pool.
Appendices
1Enter appendix example code here