888BitsStaking
Smart Contract Audit Report
Executive Summary
This report presents the outcomes of our collaborative engagement with the 888Bits team, focusing on the comprehensive evaluation of the 888BitsStaking contract. We previously reviewed the project team's S8B token here.
Our team conducted an initial security assessment from June 12th to June 14th, 2024.
888Bits Staking is a new contract which allows users to stake S8B in exchange for various rewards.
Audit Scope
Name |
Source Code |
Visualized |
888BitsStaking |
Code provided by project team |
Name/Source Code |
Visualized |
888BitsStaking |
Audit Findings
No findings were identified, though some centralized aspects are present.
System Overview
STAKING & REWARD ACCRUALThe staking mechanism offers users three options for stake durations: 7 days, 14 days, or 30 days. Each duration corresponds to distinct reward accrual settings, influencing how users earn rewards. Specifically, a 7-day stake earns S8B rewards solely for the duration of the stake, while a 14-day stake continues to accrue S8B rewards post the initial 14 days. Additionally, a 30-day stake not only continuously earns S8B rewards but also qualifies for USDC dividend rewards.
STAKE MANAGEMENTEach user stake is treated independently, ensuring that creating a new stake does not impact existing stakes' rewards or unlock time. Users have the flexibility to unstake at any time after a stake's duration has passed. Any of the Stake's pending S8B rewards are automatically harvested upon unstaking, but pending S8B or dividend rewards can be claimed manually at any time. When manually claiming rewards, users can choose to compound their rewards, which adds them back into their existing Stake. A user's cumulative S8B rewards are all harvested at once; USDC rewards can be either cumulatively harvested or harvested for individual Stakes. 7 Day Stakes are not compounded if their end date has passed. When USDC rewards are compounded, they are first swapped for S8B tokens before being added back into the Stake. The user must provide a mininmum accepted S8B to receive from the swap to protect against front running.
REWARD ACCRUAL AND DISTRIBUTIONRewards are accrued on a daily basis, with reward pool updates automatically triggered by any stake, unstake, reward injection, or claim. Pool updates can also be manually triggered by any address at any time. Rewards for multiple days are processed at once if more than one day has passed since the last update. Any address can supply S8B or USDC rewards for distribution, with S8B rewards offering the additional feature of being distributed evenly across a specified number of days in the future. The project team cannot supply USDC rewards while there are no active 30-day stakers.
Vulnerability Analysis
| Vulnerability Category | Notes | Result |
|---|---|---|
| Arbitrary Jump/Storage Write | N/A | PASS |
| Centralization of Control | N/A | PASS |
| Compiler Issues | N/A | PASS |
| Delegate Call to Untrusted Contract | N/A | PASS |
| Dependence on Predictable Variables | N/A | PASS |
| Ether/Token Theft | N/A | PASS |
| Flash Loans | N/A | PASS |
| Front Running | N/A | PASS |
| Improper Events | N/A | PASS |
| Improper Authorization Scheme | N/A | PASS |
| Integer Over/Underflow | N/A | PASS |
| Logical Issues | N/A | PASS |
| Oracle Issues | N/A | PASS |
| Outdated Compiler Version | N/A | PASS |
| Race Conditions | N/A | PASS |
| Reentrancy | N/A | PASS |
| Signature Issues | N/A | PASS |
| Sybil Attack | N/A | PASS |
| Unbounded Loops | N/A | PASS |
| Unused Code | N/A | PASS |
| Overall Contract Safety | PASS |
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What is a SourceHat Audit?
Typically, a smart contract audit is a comprehensive review process designed to discover logical errors, security vulnerabilities, and optimization opportunities within code. A SourceHat Audit takes this a step further by verifying economic logic to ensure the stability of smart contracts and highlighting privileged functionality to create a report that is easy to understand for developers and community members alike.
How Do I Interpret the Findings?
Each of our Findings will be labeled with a Severity level. We always recommend the team resolve High, Medium, and Low severity findings prior to deploying the code to the mainnet. Here is a breakdown on what each Severity level means for the project:
- High severity indicates that the issue puts a large number of users' funds at risk and has a high probability of exploitation, or the smart contract contains serious logical issues which can prevent the code from operating as intended.
- Medium severity issues are those which place at least some users' funds at risk and has a medium to high probability of exploitation.
- Low severity issues have a relatively minor risk association; these issues have a low probability of occurring or may have a minimal impact.
- Informational issues pose no immediate risk, but inform the project team of opportunities for gas optimizations and following smart contract security best practices.