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TrueFi V4

84%

Previous versions

Process Quality Review (0.7)

TrueFi V4

Final score:84%
Date:02 Nov 2021
Audit Process:version 0.7
Author:David J. Desjardins
PQR Score:84%

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.

The blockchain used by this protocol
Ethereum
#QuestionAnswer
100%
1.100%
2.100%
3.Yes
4.100%
5.Yes
87%
6.Yes
7.Yes
8.100%
9.66%
10.60%
82%
11.100%
12.82%
13.Yes
14.70%
15.0%
16.100%
96%
17.100%
18.70%
34%
19.40%
20.30%
21.30%
22.40%
Total:84%

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 2021. Permission is given to copy in whole, retaining this copyright label.

Code And Team

100%

This section looks at the code deployed on the Mainnet that gets reviewed and its corresponding software repository. The document explaining these questions is here.

1. Are the executing code addresses readily available? (%)

Answer: 100%

They are available at website https://github.com/trusttoken/smart-contracts#readme, as indicated in the Appendix.

Percentage Score Guidance:
100%
Clearly labelled and on website, docs or repo, quick to find
70%
Clearly labelled and on website, docs or repo but takes a bit of looking
40%
Addresses in mainnet.json, in discord or sub graph, etc
20%
Address found but labeling not clear or easy to find
0%
Executing addresses could not be found

2. Is the code actively being used? (%)

Answer: 100%

Activity is over 10 internal transactions a day on contract Registry.sol, as indicated in the Appendix.

Percentage Score Guidance:
100%
More than 10 transactions a day
70%
More than 10 transactions a week
40%
More than 10 transactions a month
10%
Less than 10 transactions a month
0%
No activity

3. Is there a public software repository? (Y/N)

Answer: Yes

GitHub: https://github.com/trusttoken/smart-contracts​  GitHub link is available in TrueFi's Litepaper

Is there a public software repository with the code at a minimum, but also normally test and scripts. Even if the repository was created just to hold the files and has just 1 transaction, it gets a "Yes". For teams with private repositories, this answer is "No"

Score Guidance:
Yes
There is a public software repository with the code at a minimum, but also normally test and scripts. Even if the repository was created just to hold the files and has just 1 transaction.
No
For teams with private repositories.

4. Is there a development history visible? (%)

Answer: 100%

TrustToken's smart contracts have 15 branches and 1427 commits.

This metric checks if the software repository demonstrates a strong steady history. This is normally demonstrated by commits, branches and releases in a software repository. A healthy history demonstrates a history of more than a month (at a minimum).

Percentage Score Guidance:
100%
Any one of 100+ commits, 10+branches
70%
Any one of 70+ commits, 7+branches
50%
Any one of 50+ commits, 5+branches
30%
Any one of 30+ commits, 3+branches
0%
Less than 2 branches or less than 30 commits

5. Is the team public (not anonymous)? (Y/N)

Answer: Yes

The team can be found in TrueFi's GitHub page.

For a "Yes" in this question, the real names of some team members must be public on the website or other documentation (LinkedIn, etc). If the team is anonymous, then this question is a "No".

Documentation

87%

This section looks at the software documentation. The document explaining these questions is here.

7. Are the basic software functions documented? (Y/N)

Answer: Yes

Yes, most major functions have documentation in the repository's "docs" subfolder.

8. Does the software function documentation fully (100%) cover the deployed contracts? (%)

Answer: 100%

All function documentation is found in TrueFi's GitHub repository.

Percentage Score Guidance:
100%
All contracts and functions documented
80%
Only the major functions documented
79 - 1%
Estimate of the level of software documentation
0%
No software documentation

9. Are there sufficiently detailed comments for all functions within the deployed contract code (%)

Answer: 66%

Code examples are in the Appendix. As per the SLOC, there is 66% commenting to code (CtC).

The Comments to Code (CtC) ratio is the primary metric for this score.

Percentage Score Guidance:
100%
CtC > 100 Useful comments consistently on all code
90 - 70%
CtC > 70 Useful comment on most code
60 - 20%
CtC > 20 Some useful commenting
0%
CtC < 20 No useful commenting

10. Is it possible to trace from software documentation to the implementation in code (%)

Answer: 60%

TrueFi's GitHub repository gives a lear association between the code and documents via non explicit traceability.

Percentage Score Guidance:
100%
Clear explicit traceability between code and documentation at a requirement level for all code
60%
Clear association between code and documents via non explicit traceability
40%
Documentation lists all the functions and describes their functions
0%
No connection between documentation and code

Testing

82%

11. Full test suite (Covers all the deployed code) (%)

Answer: 100%

Code examples are in the Appendix. As per the SLOC, there is 225% 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 reviewers best judgement is the final deciding factor.

Percentage Score Guidance:
100%
TtC > 120% Both unit and system test visible
80%
TtC > 80% Both unit and system test visible
40%
TtC < 80% Some tests visible
0%
No tests obvious

12. Code coverage (Covers all the deployed lines of code, or explains misses) (%)

Answer: 82%

As per TrueFi's GitHub repository, their smart contracts have a coverage of 82%.

Percentage Score Guidance:
100%
Documented full coverage
99 - 51%
Value of test coverage from documented results
50%
No indication of code coverage but clearly there is a reasonably complete set of tests
30%
Some tests evident but not complete
0%
No test for coverage seen

13. Scripts and instructions to run the tests? (Y/N)

Answer: Yes

14. Report of the results (%)

Answer: 70%

Percentage Score Guidance:
100%
Detailed test report as described below
70%
GitHub code coverage report visible
0%
No test report evident

15. Formal Verification test done (%)

Answer: 0%

No evidence of formal verification.

16. Stress Testing environment (%)

Answer: 100%

There is evidence of a stress testing environment at https://github.com/trusttoken/smart-contracts/blob/main/deployments-ropsten.json.

Security

96%

This section looks at the 3rd party software audits done. It is explained in this document.

17. Did 3rd Party audits take place? (%)

Answer: 100%

TrueFi has had multiple audits, found here. Out of those, two of the ImmuneBytes audits were performed before the launch of v4 on August 18th 2021, and the third ImmuneBytes audit was performed post-launch.

Percentage Score Guidance:
100%
Multiple Audits performed before deployment and results public and implemented or not required
90%
Single audit performed before deployment and results public and implemented or not required
70%
Audit(s) performed after deployment and no changes required. Audit report is public
50%
Audit(s) performed after deployment and changes needed but not implemented
20%
No audit performed
0%
Audit Performed after deployment, existence is public, report is not public and no improvements deployed OR smart contract address not found, (where question 1 is 0%)
Deduct 25% if code is in a private repo and no note from auditors that audit is applicable to deployed code.

18. Is the bug bounty acceptable high? (%)

Answer: 70%

An active Bug bounty program can be found at https://github.com/trusttoken/bug-bounty.

Percentage Score Guidance:
100%
Bounty is 10% TVL or at least $1M AND active program (see below)
90%
Bounty is 5% TVL or at least 500k AND active program
80%
Bounty is 5% TVL or at least 500k
70%
Bounty is 100k or over AND active program
60%
Bounty is 100k or over
50%
Bounty is 50k or over AND active program
40%
Bounty is 50k or over
20%
Bug bounty program bounty is less than 50k
0%
No bug bounty program offered
An active program means that a third party (such as Immunefi) is actively driving hackers to the site. An inactive program would be static mentions on the docs.

Access Controls

34%

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.

19. Can a user clearly and quickly find the status of the access controls (%)

Answer: 40%

Percentage Score Guidance:
100%
Clearly labelled and on website, docs or repo, quick to find
70%
Clearly labelled and on website, docs or repo but takes a bit of looking
40%
Access control docs in multiple places and not well labelled
20%
Access control docs in multiple places and not labelled
0%
Admin Control information could not be found

20. Is the information clear and complete (%)

Answer: 30%
  1. All contracts are clearly labelled as upgradeable (or not) -- 0% -- No contracts' upgrade status is explicitly mentioned.    2. The type of ownership is clearly indicated (OnlyOwner / MultiSig / Defined Roles) -- 30% -- OnlyOwners and defined voting roles are clearly defined in the code and documentation at https://github.com/trusttoken/smart-contracts/blob/main/docs/governance/common/ClaimableContract.md    3. The capabilities for change in the contracts are described -- 0% -- No capability for change is described for any of the smart contracts.

Percentage Score Guidance:
All the contracts are immutable -- 100% OR
a) All contracts are clearly labelled as upgradeable (or not) -- 30% AND
b) The type of ownership is clearly indicated (OnlyOwner / MultiSig / Defined Roles) -- 30% AND
c) The capabilities for change in the contracts are described -- 30%

21. Is the information in non-technical terms that pertain to the investments (%)

Answer: 30%

Admin control information is only available in software-specific language.

Percentage Score Guidance:
100%
All the contracts are immutable
90%
Description relates to investments safety and updates in clear, complete non-software language
30%
Description all in software specific language
0%
No admin control information could be found

22. Is there Pause Control documentation including records of tests (%)

Answer: 40%

There is no documentation to be found on pause control. However, it can be found in their GitHub repository without proper documentation at https://github.com/trusttoken/smart-contracts/blob/main/docs/governance/Pauser.md.

Percentage Score Guidance:
100%
All the contracts are immutable or no pause control needed and this is explained OR Pause control(s) are clearly documented and there is records of at least one test within 3 months
80%
Pause control(s) explained clearly but no evidence of regular tests
40%
Pause controls mentioned with no detail on capability or tests
0%
Pause control not documented or explained

Appendices

 The author of this review is Rex of DeFi Safety.

Email: rex@defisafety.com
Twitter: @defisafety

I started with Ethereum just before the DAO and that was a wonderful education.  It showed the importance of code quality. The second Parity hack also showed the importance of good process.  Here my aviation background offers some value. Aerospace knows how to make reliable code using quality processes.
I was coaxed to go to EthDenver 2018 and there I started SecuEth.org with Bryant and Roman. We created guidelines on good processes for blockchain code development. We got EthFoundation funding to assist in their development Process Quality Reviews are an extension of the SecurEth guidelines that will further increase the quality processes in Solidity and Vyper development. DeFiSafety is my full time gig and we are working on funding vehicles for a permanent staff.

1// SPDX-License-Identifier: MIT
2pragma solidity 0.6.10;
34import {IERC20} from "@openzeppelin/contracts/token/ERC20/IERC20.sol";
5import {SafeMath} from "@openzeppelin/contracts/math/SafeMath.sol";
67import {Initializable} from "../common/Initializable.sol";
8import {ITrueDistributor} from "./interface/ITrueDistributor.sol";
9import {ITrueFarm} from "./interface/ITrueFarm.sol";
1011/**
12 * @title TrueFarm
13 * @notice Deposit liquidity tokens to earn TRU rewards over time
14 * @dev Staking pool where tokens are staked for TRU rewards
15 * A Distributor contract decides how much TRU a farm can earn over time
16 */
17contract TrueFarm is ITrueFarm, Initializable {
18    using SafeMath for uint256;
19    uint256 constant PRECISION = 1e30;
2021    // ================ WARNING ==================
22    // ===== THIS CONTRACT IS INITIALIZABLE ======
23    // === STORAGE VARIABLES ARE DECLARED BELOW ==
24    / REMOVAL OR REORDER OF VARIABLES WILL RESULT
25    / ========= IN STORAGE CORRUPTION ===========
2627    IERC20 public override stakingToken;
28    IERC20 public override trustToken;
29    ITrueDistributor public override trueDistributor;
30    string public override name;
3132    // track stakes
33    uint256 public override totalStaked;
34    mapping(address => uint256) public staked;
3536    // track overall cumulative rewards
37    uint256 public cumulativeRewardPerToken;
38    // track previous cumulate rewards for accounts
39    mapping(address => uint256) public previousCumulatedRewardPerToken;
40    // track claimable rewards for accounts
41    mapping(address => uint256) public claimableReward;
4243    // track total rewards
44    uint256 public totalClaimedRewards;
45    uint256 public totalFarmRewards;
4647    // ======= STORAGE DECLARATION END ============
4849    /**
50     * @dev Emitted when an account stakes
51     * @param who Account staking
52     * @param amountStaked Amount of tokens staked
53     */
54    event Stake(address indexed who, uint256 amountStaked);
5556    /**
57     * @dev Emitted when an account unstakes
58     * @param who Account unstaking
59     * @param amountUnstaked Amount of tokens unstaked
60     */
61    event Unstake(address indexed who, uint256 amountUnstaked);
6263    /**
64     * @dev Emitted when an account claims TRU rewards
65     * @param who Account claiming
66     * @param amountClaimed Amount of TRU claimed
67     */
68    event Claim(address indexed who, uint256 amountClaimed);
6970    /**
71     * @dev Initialize staking pool with a Distributor contract
72     * The distributor contract calculates how much TRU rewards this contract
73     * gets, and stores TRU for distribution.
74     * @param _stakingToken Token to stake
75     * @param _trueDistributor Distributor contract
76     * @param _name Farm name
77     */
78    function initialize(
79        IERC20 _stakingToken,
80        ITrueDistributor _trueDistributor,
81        string memory _name
82    ) public initializer {
83        stakingToken = _stakingToken;
84        trueDistributor = _trueDistributor;
85        trustToken = _trueDistributor.trustToken();
86        name = _name;
87        require(trueDistributor.farm() == address(this), "TrueFarm: Distributor farm is not set");
88    }
8990    /**
91     * @dev Stake tokens for TRU rewards.
92     * Also claims any existing rewards.
93     * @param amount Amount of tokens to stake
94     */
95    function stake(uint256 amount) external override update {
96        if (claimableReward[msg.sender] > 0) {
97            _claim();
98        }
99        staked[msg.sender] = staked[msg.sender].add(amount);
100        totalStaked = totalStaked.add(amount);
101        require(stakingToken.transferFrom(msg.sender, address(this), amount));
102        emit Stake(msg.sender, amount);
103    }
104105    /**
106     * @dev Internal unstake function
107     * @param amount Amount of tokens to unstake
108     */
109    function _unstake(uint256 amount) internal {
110        require(amount <= staked[msg.sender], "TrueFarm: Cannot withdraw amount bigger than available balance");
111        staked[msg.sender] = staked[msg.sender].sub(amount);
112        totalStaked = totalStaked.sub(amount);
113        require(stakingToken.transfer(msg.sender, amount));
114        emit Unstake(msg.sender, amount);
115    }
116117    /**
118     * @dev Internal claim function
119     */
120    function _claim() internal {
121        totalClaimedRewards = totalClaimedRewards.add(claimableReward[msg.sender]);
122        uint256 rewardToClaim = claimableReward[msg.sender];
123        claimableReward[msg.sender] = 0;
124        require(trustToken.transfer(msg.sender, rewardToClaim));
125        emit Claim(msg.sender, rewardToClaim);
126    }
127128    /**
129     * @dev Remove staked tokens
130     * @param amount Amount of tokens to unstake
131     */
132    function unstake(uint256 amount) external override update {
133        _unstake(amount);
134    }
135136    /**
137     * @dev Claim TRU rewards
138     */
139    function claim() external override update {
140        _claim();
141    }
142143    /**
144     * @dev Unstake amount and claim rewards
145     * @param amount Amount of tokens to unstake
146     */
147    function exit(uint256 amount) external override update {
148        _unstake(amount);
149        _claim();
150    }
151152    /**
153     * @dev View to estimate the claimable reward for an account
154     * @return claimable rewards for account
155     */
156    function claimable(address account) external view returns (uint256) {
157        if (staked[account] == 0) {
158            return claimableReward[account];
159        }
160        // estimate pending reward from distributor
161        uint256 pending = trueDistributor.nextDistribution();
162        // calculate total rewards (including pending)
163        uint256 newTotalFarmRewards = trustToken.balanceOf(address(this)).add(pending).add(totalClaimedRewards).mul(PRECISION);
164        // calculate block reward
165        uint256 totalBlockReward = newTotalFarmRewards.sub(totalFarmRewards);
166        // calculate next cumulative reward per token
167        uint256 nextcumulativeRewardPerToken = cumulativeRewardPerToken.add(totalBlockReward.div(totalStaked));
168        // return claimable reward for this account
169        // prettier-ignore
170        return claimableReward[account].add(
171            staked[account].mul(nextcumulativeRewardPerToken.sub(previousCumulatedRewardPerToken[account])).div(PRECISION));
172    }
173174    /**
175     * @dev Update state and get TRU from distributor
176     */
177    modifier update() {
178        // pull TRU from distributor
179        // only pull if there is distribution and distributor farm is set to this farm
180        if (trueDistributor.nextDistribution() > 0 && trueDistributor.farm() == address(this)) {
181            trueDistributor.distribute();
182        }
183        // calculate total rewards
184        uint256 newTotalFarmRewards = trustToken.balanceOf(address(this)).add(totalClaimedRewards).mul(PRECISION);
185        // calculate block reward
186        uint256 totalBlockReward = newTotalFarmRewards.sub(totalFarmRewards);
187        // update farm rewards
188        totalFarmRewards = newTotalFarmRewards;
189        // if there are stakers
190        if (totalStaked > 0) {
191            cumulativeRewardPerToken = cumulativeRewardPerToken.add(totalBlockReward.div(totalStaked));
192        }
193        // update claimable reward for sender
194        claimableReward[msg.sender] = claimableReward[msg.sender].add(
195            staked[msg.sender].mul(cumulativeRewardPerToken.sub(previousCumulatedRewardPerToken[msg.sender])).div(PRECISION)
196        );
197        // update previous cumulative for sender
198        previousCumulatedRewardPerToken[msg.sender] = cumulativeRewardPerToken;
199        _;
200    }
201}

Solidity Contracts

Language
Files
Lines
Blanks
Comments
Code
Complexity
Solidity
80
14947
2095
5087
7765
876

Comments to Code: 5087 / 7765 =  66 %

JavaScript Tests

Language
Files
Lines
Blanks
Comments
Code
Complexity
TypeScript
88
21019
3419
133
17467
483

Tests to Code: 17467 / 7765 = 225 %