logo
bg_imgbg_imgbg_imgbg_img
exclamation mark iconReport an issue

If you notice some outdated information please let us know!

close icon
Name
Email
Your message
arrow-left

1inch.exchange

85%

Process Quality Review (0.7)

1inch.exchange

Final score:85%
Date:09 Aug 2021
Audit Process:version 0.7
Author:Nic of DeFiSafety
PQR Score:85%

PASS

Protocol Website:https://1inch.exchange

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
Arbitrum
BnB Smart Chain
Ethereum
Polygon
#QuestionAnswer
100%
1.100%
2.100%
3.Yes
4.100%
5.Yes
82%
6.Yes
7.Yes
8.80%
9.0%
10.100%
82%
11.100%
12.77%
13.Yes
14.70%
15.0%
16.100%
88%
17.100%
18.0%
69%
19.100%
20.100%
21.90%
22.0%
Total:85%

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/1inch/liquidity-protocol/blob/master/README.md, 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 transactions a day on contract MooniswapFactory.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

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%

With 578 commits and 7 branches, this is a very healthy repository.

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

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

82%

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

6. Is there a whitepaper? (Y/N)

Answer: Yes

Location: https://docs.1inch.io/api/. Note: Previous whitepaper was deprecated, and a link to this API doc was provided instead.

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

Answer: Yes

There are basic software functions documented in the 1inch API documentation.

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

Answer: 80%

Most of the core software functions are documented in the API documentation, as well as in the READ.me of their liquidity-protocol 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: 0%

Code examples are in the Appendix. As per the SLOC, there is 4% 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: 100%

There is clear and explicit traceability when it comes to the 1inch software documentation and its implementation within their source code, as seen in the "Quote/Swap" section, this READ.me and the swagger documentation.

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 171% 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: 77%

There is 77% code coverage according to this codecov report.

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

Scrips/Instructions location: The 1inch API docs serve as instructions to run whichever tests you want.​

14. Report of the results (%)

Answer: 70%

The GitHub code coverage report is visible.

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 a 1inch Formal Verification test was found in their documentation or in further web searches.

16. Stress Testing environment (%)

Answer: 100%

There is evidence of Kovan testnet smart contract usage in the "Deployment" repository of the 1inch GitHub.

Security

88%

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%

There have been multiple audits performed on the 1inch contracts before and after their various deployments (v1-v3). The full list of audits can be found here.

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: 0%

There is evidence of a 1inch bug bounty program, but no details regarding the potential rewards offered to participating users.

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

69%

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: 100%

1inch admin access control information can easily be found at the bottom of the governance section of their website at https://gov.1inch.io/.

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: 100%

All of the relevant information is described here. The contracts are immutable.

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: 90%

All descriptions of the 1inch governance model are user-friendly, complemented with graphs and imagery, as well as adequately detailing each aspect of the governance model at https://blog.1inch.io/1inch-token-is-released-e69ad69cf3ee. However they never actually say their contracts cannot be upgraded. The commenting in the executing governance contracts is also helpful.

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: 0%

No Pause Guardian or similar function was found in the 1inch documentation. However the contracts have pause capability.

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.

1contract MooniswapFactory is IMooniswapFactory, MooniswapFactoryGovernance {
2    using UniERC20 for IERC20;
34    event Deployed(
5        Mooniswap indexed mooniswap,
6        IERC20 indexed token1,
7        IERC20 indexed token2
8    );
910    IMooniswapDeployer public immutable mooniswapDeployer;
11    address public immutable poolOwner;
12    Mooniswap[] public allPools;
13    mapping(Mooniswap => bool) public override isPool;
14    mapping(IERC20 => mapping(IERC20 => Mooniswap)) private _pools;
1516    constructor (address _poolOwner, IMooniswapDeployer _mooniswapDeployer, address _governanceMothership) public MooniswapFactoryGovernance(_governanceMothership) {
17        poolOwner = _poolOwner;
18        mooniswapDeployer = _mooniswapDeployer;
19    }
2021    function getAllPools() external view returns(Mooniswap[] memory) {
22        return allPools;
23    }
2425    function pools(IERC20 tokenA, IERC20 tokenB) external view override returns (Mooniswap pool) {
26        (IERC20 token1, IERC20 token2) = sortTokens(tokenA, tokenB);
27        return _pools[token1][token2];
28    }
2930    function deploy(IERC20 tokenA, IERC20 tokenB) public returns(Mooniswap pool) {
31        require(tokenA != tokenB, "Factory: not support same tokens");
32        (IERC20 token1, IERC20 token2) = sortTokens(tokenA, tokenB);
33        require(_pools[token1][token2] == Mooniswap(0), "Factory: pool already exists");
3435        string memory symbol1 = token1.uniSymbol();
36        string memory symbol2 = token2.uniSymbol();
3738        pool = mooniswapDeployer.deploy(
39            token1,
40            token2,
41            string(abi.encodePacked("1inch Liquidity Pool (", symbol1, "-", symbol2, ")")),
42            string(abi.encodePacked("1LP-", symbol1, "-", symbol2)),
43            poolOwner
44        );
4546        _pools[token1][token2] = pool;
47        allPools.push(pool);
48        isPool[pool] = true;
4950        emit Deployed(pool, token1, token2);
51    }
5253    function sortTokens(IERC20 tokenA, IERC20 tokenB) public pure returns(IERC20, IERC20) {
54        if (tokenA < tokenB) {
55            return (tokenA, tokenB);
56        }
57        return (tokenB, tokenA);
5859

Solidity Contracts

Language
Files
Lines
Blanks
Comments
Code
Complexity
Solidity
9
1349
263
37
1049
137

Comments to Code: 37 / 1049 =  4 %

JavaScript Tests

Language
Files
Lines
Blanks
Comments
Code
Complexity
JavaScript
7
2248
373
79
1796
43

Tests to Code: 1796 / 1049 = 171 %