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Votium

45%

Process Quality Review (0.8)

Votium

Final score:45%
Date:13 Jun 2022
Audit Process:version 0.8
Author:Ryoma
PQR Score:45%

FAIL

Protocol Website:votium.app

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
78%
1.100%
2.100%
3.Yes
4.100%
5.0
14%
6.Yes
7.No
8.0%
9.0%
10%
10.0%
11.0%
12.No
13.0%
14.No
15.Yes
0%
16.0%
17.0%
77%
18.100%
19.100%
20.100%
21.100%
22.100%
23.0%
24.60%
25.50%
100%
26.100%
27.Yes
28.Yes
Total:45%

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.

Smart Contracts & Team

78%

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? (%)

Answer: 100%

Votium's smart contracts are available in their documentation here. A screenshot of the addresses can be found in the appendix.

Percentage Score Guidance:
100%
Clearly labelled and on website, documents or repository, 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. How active is the primary contract? (%)

Answer: 100%

Votium's Multi Merkle Stash contract is active with well over 10 transactions a day, earning Votium a 100% score. A screenshot of the transaction dashboard is available 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. Does the protocol have a public software repository? (Y/N)

Answer: Yes

Votium's software repository can be found on their GitHub page.

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%

Votium's repository has 258 commits and 1 branch, which displays good development. Although Votium earns 100% score on this segment, it would be good to develop an extra branch or two to bring the development history to a better place.

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)?

Answer: 0

There is no team members from Votium that is publicly tied to the protocol, which gives the protocol a 0.

Score Guidance:
100%
At least two names can be easily found in the protocol's website, documentation or medium. These are then confirmed by the personal websites of the individuals / their linkedin / twitter.
50%
At least one public name can be found to be working on the protocol.
0%
No public team members could be found.

Documentation

14%

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

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

Answer: Yes

7. Is the protocol's software architecture documented? (Y/N)

Answer: No

Votium does not display any readily available software architecture documentation for its users. There are only brief descriptions of the buyers and voters roles and how to interact with the protocol but that does not constitute proper software architecture documentation.

Score Guidance:
Yes
The documents identify software architecture and contract interaction through any of the following: diagrams, arrows, specific reference to software functions or a written explanation on how smart contracts interact.
No
Protocols receive a "no" if none of these are included.

8. Does the software documentation fully cover the deployed contracts' source code? (%)

Answer: 0%

There is no software documentation covering the deployed codes of Votium. Only smart contract addresses and their Etherscan links are displayed.

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. Is it possible to trace the documented software to its implementation in the protocol's source code? (%)

Answer: 0%

As there is no documented software functions or architecture, Votium earns a 0 for this question as well.

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

10%

10. Has the protocol tested their deployed code? (%)

Answer: 0%

There is no evidence of testing in Votium's contracts repository.

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

11. How covered is the protocol's code? (%)

Answer: 0%

There is no trace of code coverage available on Votium protocol.

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 complete set of tests
30%
Some tests evident but not complete
0%
No test for coverage seen

12. Does the protocol provide scripts and instructions to run their tests? (Y/N)

Answer: No

There is no scripts or instructions to run tests for the protocol's code.

Score Guidance:
Yes
Scripts and/or instructions to run tests are available in the testing suite
No
Scripts and/or instructions to run tests are not available in the testing suite

13. Is there a detailed report of the protocol's test results?(%)

Answer: 0%

There are no reports on the protocol's test results.

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

14. Has the protocol undergone Formal Verification? (Y/N)

Answer: No

Votium has not undergone any Formal Verification.

Score Guidance:
Yes
Formal Verification was performed and the report is readily available
No
Formal Verification was not performed and/or the report is not readily available.

15. Were the smart contracts deployed to a testnet? (Y/N)

Answer: Yes

While there is no evidence of testnet deployment on the protocol's documentation, a quick chat with the Votium developers allowed us to provide their testnet deployment addresses on Rinkeby here:    VotiumVeCRV.sol: https://rinkeby.etherscan.io/address/0x07c3c293dc6c71bcc00142738ec1a356340a2d17    VoteProxy.sol:  https://rinkeby.etherscan.io/address/0xde1e6a7ed3300420ea855c2c055b41a3d10e974b    VotiumBribe.sol (vlCVX): https://rinkeby.etherscan.io/address/0xd258b758b6fad0d373603c7dc2fca295cef15e4a#code    Single merkle has a testnet deployment: https://rinkeby.etherscan.io/address/0xb710f1eb3e88e338744e148c8e63b07bc121a4a8

Score Guidance:
Yes
Protocol has proved their tesnet usage by providing the addresses
No
Protocol has not proved their testnet usage by providing the addresses

Security

0%

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

16. Is the protocol sufficiently audited? (%)

Answer: 0%

There are no audits available on Votium.

Percentage Score Guidance:
100%
Multiple Audits performed before deployment and the audit findings are public and implemented or not required
90%
Single audit performed before deployment and audit findings are public and implemented or not required
70%
Audit(s) performed after deployment and no changes required. The Audit report is public.
65%
Code is forked from an already audited protocol and a changelog is provided explaining why forked code was used and what changes were made. This changelog must justify why the changes made do not affect the audit.
50%
Audit(s) performed after deployment and changes are needed but not implemented.
30%
Audit(s) performed are low-quality and do not indicate proper due diligence.
20%
No audit performed
0%
Audit Performed after deployment, existence is public, report is not public OR smart contract address' not found.
Deduct 25% if the audited code is not available for comparison.

17. Is the bounty value acceptably high (%)

Answer: 0%

There are no bug bounties available for the Votium Protocol.

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 / the bug bounty program is dead
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.

Admin Controls

77%

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?

Answer: 100%

Votium Protocol's admin controls can be found in their Multisig Admin Rights documentation. That was easy to find.

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

19. Are relevant contracts clearly labelled as upgradeable or immutable? (%)

Answer: 100%

Each upgradeable contract is documented in the Multisig Admin Rights' section, with the functions and smart contract names which is good documentation.

Percentage Score Guidance:
100%
Both the contract documentation and the smart contract code state that the code is not upgradeable or immutable.
80%
All Contracts are clearly labelled as upgradeable (or not)
50%
Code is immutable but not mentioned anywhere in the documentation
0%
Admin control information could not be found

20. Is the type of smart contract ownership clearly indicated? (%)

Answer: 100%

Ownership is clearly indicated as MultiSig in their Multisig Admin Rights.

Percentage Score Guidance:
100%
The type of ownership is clearly indicated in their documentation. (OnlyOwner / MultiSig / etc)
50%
The type of ownership is indicated, but only in the code. (OnlyOwner / MultiSig / etc)
0%
Admin Control information could not be found

21. Are the protocol's smart contract change capabilities described? (%)

Answer: 100%

Votium describes smart contract change capabilities very well with their Multisig Admin Rights documentation.

Percentage Score Guidance:
100%
The documentation covers the capabilities for change for all smart contracts
50%
The documentation covers the capabilities for change in some, but not all contracts
0%
The documentation does not cover the capabilities for change in any contract

22. Is the protocol's admin control information easy to understand? (%)

Answer: 100%

The admin control information for the protocol are in non-software specific language, which earns the protocol a 100%.

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

23. Is there sufficient Pause Control documentation? (%)

Answer: 0%

There are no Pause Control documentation available for Votium.

Percentage Score Guidance:
100%
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

24. Is there sufficient Timelock documentation? (%)

Answer: 60%

There is an identification of a timelock on Votium's "Why Votium" page, where there is mention of a 10 day cooldown period. However, this is not enough documentation to receive full marks; giving functions and explanations on the timelock as well as which contracts are specifically affected by this cooldown would help users understand the feature better.

Percentage Score Guidance:
100%
Documentation identifies and explains why the protocol does not need a Timelock OR Timelock documentation identifies its duration, which contracts it applies to and justifies this time period.
60%
A Timelock is identified and its duration is specified
30%
A Timelock is identified
0%
No Timelock information was documented

25. Is the Timelock of an adequate length? (Y/N)

Answer: 50%

Timelock is of a 10 day period, earning Votium 50%. This statement can be found here.

Percentage Score Guidance:
100%
Timelock is between 48 hours to 1 week OR justification as to why no Timelock is needed / is outside this length.
50%
Timelock is less than 48 hours or greater than 1 week.
0%
No Timelock information was documented OR no timelock length was identified.

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? (%)

Answer: 100%

Votium does not provide oracle documentation. However, it is clear that Votium does not use oracles. As such, we will award full points.

Percentage Score Guidance:
100%
If it uses one, the Oracle is specified. The contracts dependent on the oracle are identified. Basic software functions are identified (if the protocol provides its own price feed data). Timeframe of price feeds are identified. OR The reason as to why the protocol does not use an Oracle is identified and explained.
75%
The Oracle documentation identifies both source and timeframe, but does not provide additional context regarding smart contracts.
50%
Only the Oracle source is identified.
0%
No oracle is named / no oracle information is documented.

27. Is front running mitigated by this protocol? (Y/N)

Answer: Yes

This protocol does not provide front running mitigation techniques. Indeed, as a protocol that does not custody funds the potential for front running is minimal. We will thus award points to prevent this protocol being penalised for this.

Score Guidance:
Yes
The protocol cannot be front run and there is an explanation as to why OR documented front running countermeasures are implemented.
No
The Oracle documentation identifies both source and timeframe, but does not provide additional context regarding smart contracts.

28. Can flashloan attacks be applied to the protocol, and if so, are those flashloan attack risks mitigated? (Y/N)

Answer: Yes

This protocol does not provide flashloan attack mitigation techniques. Indeed, as a protocol that does not custody funds the potential for flashloan attack is minimal. We will thus award points to prevent this protocol being penalised for this.

Score Guidance:
Yes
The protocol's documentation includes information on how they mitigate the possibilities and extents of flash loan attacks.
No
The protocol's documentation does not include any information regarding the mitigation of flash loan attacks.

Appendices

null
1// SPDX-License-Identifier: MIT
2// Votium Bribe
3
4pragma solidity ^0.8.0;
5
6import "@openzeppelin/contracts/token/ERC20/IERC20.sol";
7import "@openzeppelin/contracts/token/ERC20/utils/SafeERC20.sol";
8import "@openzeppelin/contracts/utils/math/Math.sol";
9
10import "./Ownable.sol";
11
12contract VotiumBribe is Ownable {
13
14  using SafeERC20 for IERC20;
15
16  /* ========== STATE VARIABLES ========== */
17
18    // accepted tokens registry
19    struct Token {
20      bool whitelist;
21      address distributor;
22    }
23
24    // proposal data
25    struct Proposal {
26      uint256 deadline;
27      uint256 maxIndex;
28    }
29
30    mapping(bytes32 => Proposal) public proposalInfo;  // bytes32 of snapshot IPFS hash id for a given proposal
31    mapping(address => Token) public tokenInfo;        // bribe token registry data
32
33    mapping(bytes32 => bool) public delegationHash;    // approved hashes for EIP1271 delegated vote
34    mapping(address => bool) public approvedTeam;      // for team functions that do not require multi-sig security
35
36    address public feeAddress = 0xe39b8617D571CEe5e75e1EC6B2bb40DdC8CF6Fa3; // Votium multisig
37    uint256 public platformFee = 400;             // 4%
38    uint256 public constant DENOMINATOR = 10000;  // denominates weights 10000 = 100%
39
40    bool public requireWhitelist = true;  // begin with erc20 whitelist in effect
41
42
43
44  /* ========== CONSTRUCTOR ========== */
45
46    constructor() {
47      approvedTeam[msg.sender] = true;
48      approvedTeam[0x540815B1892F888875E800d2f7027CECf883496a] = true;
49    }
50
51  /* ========== PUBLIC FUNCTIONS ========== */
52
53    // Deposit bribe
54    function depositBribe(address _token, uint256 _amount, bytes32 _proposal, uint256 _choiceIndex) public {
55      if(requireWhitelist == true) {
56        require(tokenInfo[_token].whitelist == true, "!whitelist");
57      }
58      require(proposalInfo[_proposal].deadline > block.timestamp, "invalid proposal");
59      require(proposalInfo[_proposal].maxIndex >= _choiceIndex, "invalid choice");
60      uint256 fee = _amount*platformFee/DENOMINATOR;
61      uint256 bribeTotal = _amount-fee;
62      IERC20(_token).safeTransferFrom(msg.sender, feeAddress, fee);
63      if(tokenInfo[_token].distributor == address(0)) {
64        IERC20(_token).safeTransferFrom(msg.sender, address(this), bribeTotal);  // if distributor contract is not set, store in this contract until ready
65      } else {
66        IERC20(_token).safeTransferFrom(msg.sender, tokenInfo[_token].distributor, bribeTotal); // if distributor contract is set, send directly to distributor
67      }
68      emit Bribed(_token, bribeTotal, _proposal, _choiceIndex);
69    }
70
71    // called by vote proxy contract as part of EIP1271 contract signing for delegated votes
72    function isWinningSignature(bytes32 _hash, bytes memory _signature) public view returns (bool) {
73      return delegationHash[_hash];
74    }
75
76  /* ========== APPROVED TEAM FUNCTIONS ========== */
77
78    // initiate proposal for bribes
79    function initiateProposal(bytes32 _proposal, uint256 _deadline, uint256 _maxIndex) public onlyTeam {
80      require(proposalInfo[_proposal].deadline == 0, "exists");
81      require(_deadline > block.timestamp, "invalid deadline");
82      proposalInfo[_proposal].deadline = _deadline;
83      proposalInfo[_proposal].maxIndex = _maxIndex;
84      emit Initiated(_proposal);
85    }
86
87    // approve EIP1271 vote hash for delegated vlCVX
88    function approveDelegationVote(bytes32 _hash) public onlyTeam {
89      delegationHash[_hash] = true;
90    }
91
92    // transfer stored bribes to distributor (only pertains to bribes made before a token distributor has been set)
93    function transferToDistributor(address _token) public onlyTeam {
94      require(tokenInfo[_token].distributor != address(0), "no distributor");
95      uint256 bal = IERC20(_token).balanceOf(address(this));
96      IERC20(_token).safeTransfer(tokenInfo[_token].distributor, bal);
97    }
98
99    // whitelist token
100    function whitelistToken(address _token) public onlyTeam {
101      tokenInfo[_token].whitelist = true;
102      emit Whitelisted(_token);
103    }
104
105    // whitelist multiple tokens
106    function whitelistTokens(address[] memory _tokens) public onlyTeam {
107      for(uint256 i=0;i<_tokens.length;i++) {
108        tokenInfo[_tokens[i]].whitelist = true;
109        emit Whitelisted(_tokens[i]);
110      }
111    }
112
113  /* ========== MUTLI-SIG FUNCTIONS ========== */
114
115    // toggle whitelist requirement
116    function setWhitelistRequired(bool _requireWhitelist) public onlyOwner {
117      requireWhitelist = _requireWhitelist;
118      emit WhitelistRequirement(_requireWhitelist);
119    }
120
121    // update fee address
122    function updateFeeAddress(address _feeAddress) public onlyOwner {
123      feeAddress = _feeAddress;
124    }
125
126    // update fee amount
127    function updateFeeAmount(uint256 _feeAmount) public onlyOwner {
128      require(_feeAmount < 400, "max fee"); // Max fee 4%
129      platformFee = _feeAmount;
130      emit UpdatedFee(_feeAmount);
131    }
132
133    // add or remove address from team functions
134    function modifyTeam(address _member, bool _approval) public onlyOwner {
135      approvedTeam[_member] = _approval;
136      emit ModifiedTeam(_member, _approval);
137    }
138
139    // update token distributor address
140    function updateDistributor(address _token, address _distributor) public onlyOwner {
141      // can be changed for future use in case of cheaper gas options than current merkle approach
142      tokenInfo[_token].distributor = _distributor;
143      emit UpdatedDistributor(_token, _distributor);
144    }
145
146  /* ========== MODIFIERS ========== */
147
148    modifier onlyTeam() {
149      require(approvedTeam[msg.sender] == true, "Team only");
150      _;
151    }
152
153  /* ========== EVENTS ========== */
154
155    event Bribed(address _token, uint256 _amount, bytes32 indexed _proposal, uint256 _choiceIndex);
156    event Initiated(bytes32 _proposal);
157    event Whitelisted(address _token);
158    event WhitelistRequirement(bool _requireWhitelist);
159    event UpdatedFee(uint256 _feeAmount);
160    event ModifiedTeam(address _member, bool _approval);
161    event UpdatedDistributor(address indexed _token, address _distributor);
162
163}
N/A