Smart Contract Audit Report

Audit Summary

VNetwork Audit Report Vanity is building a new ERC-20 token.

For this audit, we reviewed the VNetwork contract provided to us by the project team.

Audit Findings

All findings have been resolved, though some centralized aspects are present.
Date: April 7th, 2023.
Updated: April 24th, 2023 to reflect updates made to the contract that resolves all Findings.

Finding #1 - VNetwork - Informational (Resolved)

Description: The enableTrading() function takes in a blocksForPenalty parameter, but the parameter is not used to update any state variables in the contract.
function enableTrading(uint256 blocksForPenalty) external onlyOwner {
   require(!tradingActive, "Cannot reenable trading");
   require(blocksForPenalty <= 10, "Cannot make penalty blocks more than 10");
   tradingActive = true;
   swapEnabled = true;
   tradingActiveBlock = block.number;
   emit EnabledTrading();
Recommendation: The blocksForPenalty parameter should either be removed or utilized in a way that fits the project team's intended functionality.
Resolution: The team has removed the blocksForPenalty parameter from the enableTrading() function.

Finding #2 - VNetwork - Informational (Resolved)

Description: The removeLimits() function sets the maximum transaction amount to the total supply twice.
function removeLimits() external onlyOwner {

   limitsInEffect = false;
   transferDelayEnabled = false;
   maxTransaction = totalSupply();
   maxTransaction = totalSupply();
Recommendation: The maximum transaction amount can be set to the total supply once for additional gas savings on each call.
Resolution: The team has implemented the above recommendation.

Contract Overview

  • The total supply of the token is set to 1 billion $VNW [1,000,000,000].
  • No mint or burn functions are accessible, though the circulating supply can be decreased by sending tokens to the 0x..dead address.
  • There was no token allocation for our team to analyze as the contract has yet to be deployed to the mainnet.

  • Trading must be enabled by the owner before all transfers can take place on the platform. Only accounts that have been excluded from fees can participate in transfers when trading is disabled. Once trading is enabled it can never be disabled.
  • The contract enforces a transfer delay which prevents a transfer from occurring if the user is attempting to either buy tokens or participate in a peer-to-peer transfer more than one time per two blocks.
  • The contract enforces a maximum transaction amount (determined by the owner) which imposes a limit to the number of tokens that can be bought or sold via Uniswap per transaction.
  • There is a Liquidity fee, Treasury fee, and Project fee on all transfers via Uniswap where neither the sender nor the recipient is excluded from fees. A separate fee structure can be set by the team to apply different fee percentages depending on whether the transfer is a buy or a sell.
  • The tokens collected through the Treasury fee and Project fee are stored in the contract address. The tokens are swapped for ETH and sent to the team's Treasury wallet and Project wallet when the following conditions are met:
    • The automatic liquidity add functionality is enabled by the team.
    • The threshold number of tokens (determined by the owner) in the contract address has been reached.
    • The contract is not currently swapping tokens.
    • The caller is not initiating a buy transaction via Uniswap.
    • Neither the sender nor the recipient is excluded from fees.
  • The tokens collected through the Liquidity fee are sent from the contract to the Pair address.
  • The team can upgrade the contract at any time.
  • As the contract is implemented with Solidity v0.8.x, it is protected from overflows/underflows.
  • The contract complies with the ERC-20 token standard.
Ownership Controls:
  • The owner can set total sell fees and total buy fees up to 15% each at any time.
  • The owner can exclude and include accounts from transfer fees at any time.
  • The owner can set the maximum transaction amount to any value greater than 1 million tokens at any time.
  • The owner can include and exclude any accounts from the maximum transaction restriction at any time.
  • The owner can disable the maximum transaction restriction at any time.
  • The owner can update the threshold number of tokens needed to trigger an automatic liquidity add to any value between 10,000 and 1 million tokens at any time.
  • The owner can airdrop any number of tokens to up to 300 addresses per transaction at any time.
  • The owner can disable the transfer delay at any time. Once disabled, it can never be enabled.
  • The owner can manually trigger the automatic token swapping functionality at any time if the threshold number of tokens in the contract address has been reached.
  • The owner can add/remove addresses from the Automated Market Maker Pair list at any time.
  • The owner can withdraw any ETH from the contract at any time.
  • The owner can withdraw any tokens from the contract besides $VNW after trading has been enabled.
  • The owner can update the team's Treasury wallet and Project wallet at any time.

Audit Results

Vulnerability Category Notes Result
Arbitrary Jump/Storage Write N/A PASS
Centralization of Control The team can upgrade the contract at any time. WARNING
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

Inheritance Chart

Smart Contract Audit - Inheritance

Function Graph

Smart Contract Audit - Graph

Functions Overview

 ($) = payable function
 # = non-constant function
 Int = Internal
 Ext = External
 Pub = Public

 + [Int] IERC20Upgradeable 
    - [Ext] totalSupply
    - [Ext] balanceOf
    - [Ext] transfer #
    - [Ext] allowance
    - [Ext] approve #
    - [Ext] transferFrom #

 + [Int] IERC20MetadataUpgradeable (IERC20Upgradeable)
    - [Ext] name
    - [Ext] symbol
    - [Ext] decimals

 + [Lib] AddressUpgradeable 
    - [Int] isContract
    - [Int] sendValue #
    - [Int] functionCall #
    - [Int] functionCall #
    - [Int] functionCallWithValue #
    - [Int] functionCallWithValue #
    - [Int] functionStaticCall
    - [Int] functionStaticCall
    - [Int] verifyCallResult

 +  Initializable 
    - [Int] _disableInitializers #

 +  ContextUpgradeable (Initializable)
    - [Int] __Context_init #
       - modifiers: onlyInitializing
    - [Int] __Context_init_unchained #
       - modifiers: onlyInitializing
    - [Int] _msgSender
    - [Int] _msgData

 +  ERC20Upgradeable (Initializable, ContextUpgradeable, IERC20Upgradeable, IERC20MetadataUpgradeable)
    - [Int] __ERC20_init #
       - modifiers: onlyInitializing
    - [Int] __ERC20_init_unchained #
       - modifiers: onlyInitializing
    - [Pub] name
    - [Pub] symbol
    - [Pub] decimals
    - [Pub] totalSupply
    - [Pub] balanceOf
    - [Pub] transfer #
    - [Pub] allowance
    - [Pub] approve #
    - [Pub] transferFrom #
    - [Pub] increaseAllowance #
    - [Pub] decreaseAllowance #
    - [Int] _transfer #
    - [Int] _mint #
    - [Int] _burn #
    - [Int] _approve #
    - [Int] _spendAllowance #
    - [Int] _beforeTokenTransfer #
    - [Int] _afterTokenTransfer #

 +  OwnableUpgradeable (Initializable, ContextUpgradeable)
    - [Int] __Ownable_init #
       - modifiers: onlyInitializing
    - [Int] __Ownable_init_unchained #
       - modifiers: onlyInitializing
    - [Pub] owner
    - [Int] _checkOwner
    - [Pub] renounceOwnership #
       - modifiers: onlyOwner
    - [Pub] transferOwnership #
       - modifiers: onlyOwner
    - [Int] _transferOwnership #

 + [Int] IERC20 
    - [Ext] balanceOf
    - [Ext] transfer #

 + [Int] IDexRouter 
    - [Ext] factory
    - [Ext] WETH
    - [Ext] swapExactTokensForETHSupportingFeeOnTransferTokens #
    - [Ext] swapExactETHForTokensSupportingFeeOnTransferTokens ($)
    - [Ext] swapExactTokensForTokensSupportingFeeOnTransferTokens #
    - [Ext] addLiquidityETH ($)
    - [Ext] addLiquidity #
    - [Ext] getAmountsOut

 + [Int] IDexFactory 
    - [Ext] createPair #

 +  VNetwork (Initializable, ERC20Upgradeable, OwnableUpgradeable)
    - [Pub] initialize #
       - modifiers: initializer
    - [Ext]  ($)
    - [Ext] enableTrading #
       - modifiers: onlyOwner
    - [Ext] removeLimits #
       - modifiers: onlyOwner
    - [Ext] disableTransferDelay #
       - modifiers: onlyOwner
    - [Ext] updateMaxTransaction #
       - modifiers: onlyOwner
    - [Ext] updateSwapTokensAtAmount #
       - modifiers: onlyOwner
    - [Prv] _excludeFromMaxTransaction #
    - [Ext] airdropToWallets #
       - modifiers: onlyOwner
    - [Ext] excludeFromMaxTransaction #
       - modifiers: onlyOwner
    - [Ext] setAutomatedMarketMakerPair #
       - modifiers: onlyOwner
    - [Prv] _setAutomatedMarketMakerPair #
    - [Ext] updateBuyFees #
       - modifiers: onlyOwner
    - [Ext] updateSellFees #
       - modifiers: onlyOwner
    - [Ext] massExcludeFromFees #
       - modifiers: onlyOwner
    - [Pub] excludeFromFees #
       - modifiers: onlyOwner
    - [Int] _transfer #
    - [Prv] swapTokensForEth #
    - [Prv] swapBack #
    - [Ext] transferForeignToken #
       - modifiers: onlyOwner
    - [Ext] withdrawStuckETH #
       - modifiers: onlyOwner
    - [Ext] setTreasuryAddress #
       - modifiers: onlyOwner
    - [Ext] setProjectAddress #
       - modifiers: onlyOwner
    - [Ext] forceSwapBack #
       - modifiers: onlyOwner

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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.