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If you notice some outdated information please let us know!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

PieDAO

82%

Previous versions

Process Quality Review (0.7)

PieDAO

Final score:82%
Date:01 Oct 2021
Audit Process:version 0.7
Author:Nic of DeFiSafety
PQR Score:82%

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
BnB Smart Chain
Ethereum
#QuestionAnswer
100%
1.100%
2.100%
3.Yes
4.100%
5.Yes
79%
6.Yes
7.Yes
8.80%
9.55%
10.60%
67%
11.100%
12.73%
13.Yes
14.0%
15.0%
16.100%
88%
17.100%
18.0%
71%
19.100%
20.90%
21.30%
22.80%
Total:82%

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.

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://docs.piedao.org/technical/deployed-smart-contracts, 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 PV2SmartPool, 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 181 commits and 17 branches, PieDAO's "Smart Pools" GitHub repository has a robust development history.

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

79%

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

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

Answer: Yes

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

Answer: Yes

PieDAO's basic software functions are all documented under the "Dev Docs" section of their documentation at https://docs.piedao.org/technical/architecture.

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

Answer: 80%

PieDAO's software documentation covers most of the deployed contracts at https://docs.piedao.org/technical/architecture, as well as in the README.md of their corresponding GitHub repositories. The only contract that does not have its functions documented is the "Governance" contract.

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: 55%

Code examples are in the Appendix. As per the SLOC, there is 55% 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%

There is a strong presence of non explicit traceability between the software functions' documentation and their implementation in the PieDao source code.

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

67%

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

Answer: 100%

Code examples are in the Appendix. As per the SLOC, there is 281% 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: 73%

PieDAO has an average code coverage percentage of 72.5 when adding up and averaging all coverage documented in their Quantstamp v1 and v2 audits.

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: 0%

There is no evidence of a PieDao test result report in any of their GitHub repositories or documentation.

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%

There is no evidence of a PieDAO Formal Verification test in their documentation.

16. Stress Testing environment (%)

Answer: 100%

There is evidence of PieDAO's testnet smart contract usage at https://docs.piedao.org/technical/deployed-smart-contracts.

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%

PieDAO's has had 4 audits performed and published as seen from this GitHub repository. All of the reports were published before the specific contracts' mainnet launches.

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 no evidence of a PieDAO Bug Bounty program.

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

71%

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%

PieDAO's governance section can clearly be found at https://docs.piedao.org/governance/dough.

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: 90%

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%

PieDAO's provides this information in software specific language; https://docs.piedao.org/technical/updating-a-smart-pool-implementation

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: 80%

Pause Controls is clearly explained at https://docs.piedao.org/technical/untitled#features-and-use-cases, but there is no evidence of any regular tests.

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 PV2SmartPool is IPV2SmartPool, PCToken, ReentryProtection {
2  using LibSafeApprove for IERC20;
34  event TokensApproved();
5  event ControllerChanged(address indexed previousController, address indexed newController);
6  event PublicSwapSetterChanged(address indexed previousSetter, address indexed newSetter);
7  event TokenBinderChanged(address indexed previousTokenBinder, address indexed newTokenBinder);
8  event PublicSwapSet(address indexed setter, bool indexed value);
9  event SwapFeeSet(address indexed setter, uint256 newFee);
10  event CapChanged(address indexed setter, uint256 oldCap, uint256 newCap);
11  event CircuitBreakerTripped();
12  event JoinExitEnabledChanged(address indexed setter, bool oldValue, bool newValue);
13  event CircuitBreakerChanged(
14    address indexed _oldCircuitBreaker,
15    address indexed _newCircuitBreaker
16  );
1718  modifier ready() {
19    require(address(PBStorage.load().bPool) != address(0), "PV2SmartPool.ready: not ready");
20    _;
21  }
2223  modifier onlyController() {
24    require(
25      msg.sender == PBStorage.load().controller,
26      "PV2SmartPool.onlyController: not controller"
27    );
28    _;
29  }
3031  modifier onlyPublicSwapSetter() {
32    require(
33      msg.sender == PBStorage.load().publicSwapSetter,
34      "PV2SmartPool.onlyPublicSwapSetter: not public swap setter"
35    );
36    _;
37  }
3839  modifier onlyTokenBinder() {
40    require(
41      msg.sender == PBStorage.load().tokenBinder,
42      "PV2SmartPool.onlyTokenBinder: not token binder"
43    );
44    _;
45  }
4647  modifier onlyPublicSwap() {
48    require(
49      PBStorage.load().bPool.isPublicSwap(),
50      "PV2SmartPool.onlyPublicSwap: swapping not enabled"
51    );
52    _;
53  }
5455  modifier onlyCircuitBreaker() {
56    require(
57      msg.sender == P2Storage.load().circuitBreaker,
58      "PV2SmartPool.onlyCircuitBreaker: not circuit breaker"
59    );
60    _;
61  }
6263  modifier onlyJoinExitEnabled() {
64    require(
65      P2Storage.load().joinExitEnabled,
66      "PV2SmartPool.onlyJoinExitEnabled: join and exit not enabled"
67    );
68    _;
69  }
7071  modifier withinCap() {
72    _;
73    require(totalSupply() < PCSStorage.load().cap, "PV2SmartPool.withinCap: Cap limit reached");
74  }
7576  /**
77        @notice Initialises the contract
78        @param _bPool Address of the underlying balancer pool
79        @param _name Name for the smart pool token
80        @param _symbol Symbol for the smart pool token
81        @param _initialSupply Initial token supply to mint
82    */
83  function init(
84    address _bPool,
85    string calldata _name,
86    string calldata _symbol,
87    uint256 _initialSupply
88  ) external override {
89    PBStorage.StorageStruct storage s = PBStorage.load();
90    require(address(s.bPool) == address(0), "PV2SmartPool.init: already initialised");
91    require(_bPool != address(0), "PV2SmartPool.init: _bPool cannot be 0x00....000");
92    require(_initialSupply != 0, "PV2SmartPool.init: _initialSupply can not zero");
93    s.bPool = IBPool(_bPool);
94    s.controller = msg.sender;
95    s.publicSwapSetter = msg.sender;
96    s.tokenBinder = msg.sender;
97    PCStorage.load().name = _name;
98    PCStorage.load().symbol = _symbol;
99100    LibPoolToken._mint(msg.sender, _initialSupply);
101  }
102103  /**
104    @notice Sets approval to all tokens to the underlying balancer pool
105    @dev It uses this function to save on gas in joinPool
106  */
107  function approveTokens() public override noReentry {
108    IBPool bPool = PBStorage.load().bPool;
109    address[] memory tokens = bPool.getCurrentTokens();
110    for (uint256 i = 0; i < tokens.length; i++) {
111      IERC20(tokens[i]).safeApprove(address(bPool), uint256(-1));
112    }
113    emit TokensApproved();
114  }
115116  // POOL EXIT ------------------------------------------------
117118  /**
119        @notice Burns pool shares and sends back the underlying assets leaving some in the pool
120        @param _amount Amount of pool tokens to burn
121        @param _lossTokens Tokens skipped on redemption
122    */
123  function exitPoolTakingloss(uint256 _amount, address[] calldata _lossTokens)
124    external
125    override
126    ready
127    noReentry
128    onlyJoinExitEnabled
129  {
130    LibPoolEntryExit.exitPoolTakingloss(_amount, _lossTokens);
131  }
132133  /**
134        @notice Burns pool shares and sends back the underlying assets
135        @param _amount Amount of pool tokens to burn
136    */
137  function exitPool(uint256 _amount) external override ready noReentry onlyJoinExitEnabled {
138    LibPoolEntryExit.exitPool(_amount);
139  }
140141  /**
142    @notice Burn pool tokens and redeem underlying assets. With front running protection
143    @param _amount Amount of pool tokens to burn
144    @param _minAmountsOut Minimum amounts of underlying assets
145  */
146  function exitPool(uint256 _amount, uint256[] calldata _minAmountsOut)
147    external
148    override
149    ready
150    noReentry
151    onlyJoinExitEnabled
152  {
153    LibPoolEntryExit.exitPool(_amount, _minAmountsOut);
154  }
155156  /
157        @notice Exitswap single asset pool exit given pool amount in
158        @param _token Address of exit token
159        @param _poolAmountIn Amount of pool tokens sending to the pool
160        @return tokenAmountOut amount of exit tokens being withdrawn
161    */
162  function exitswapPoolAmountIn(
163    address _token,
164    uint256 _poolAmountIn,
165    uint256 _minAmountOut
166  )
167    external
168    override
169    ready
170    noReentry
171    onlyPublicSwap
172    onlyJoinExitEnabled
173    returns (uint256 tokenAmountOut)
174  {
175    return LibPoolEntryExit.exitswapPoolAmountIn(_token, _poolAmountIn, _minAmountOut);
176  }
177178  /*
179        @notice Exitswap single asset pool entry given token amount out
180        @param _token Address of exit token
181        @param _tokenAmountOut Amount of exit tokens
182        @return poolAmountIn amount of pool tokens being deposited
183    */
184  function exitswapExternAmountOut(
185    address _token,
186    uint256 _tokenAmountOut,
187    uint256 _maxPoolAmountIn
188  )

Solidity Contracts

Language
Files
Lines
Blanks
Comments
Code
Complexity
Solidity
11
1848
238
573
1037
65

Comments to Code: 573 / 1037 =  55 %

JavaScript Tests

Language
Files
Lines
Blanks
Comments
Code
Complexity
JavaScript
6
114
29
6
79
1
TypeScript
12
3449
518
95
2836
56
Total
18
3563
547
101
2915
57

Tests to Code: 2915 / 1037 = 281 %