Frax Ether Liquid Staking contest - Waze's results

A liquid ETH staking derivative designed to uniquely leverage the Frax Finance ecosystem.

General Information

Platform: Code4rena

Start Date: 22/09/2022

Pot Size: $30,000 USDC

Total HM: 12

Participants: 133

Period: 3 days

Judge: 0xean

Total Solo HM: 2

Id: 165

League: ETH

Frax Finance

Findings Distribution

Researcher Performance

Rank: 63/133

Findings: 2

Award: $40.98

🌟 Selected for report: 0

πŸš€ Solo Findings: 0

#1 Missing check zero address constructor

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETH.sol#L36

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L25

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETHMinter.sol#L52

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/OperatorRegistry.sol#L40

Checking addresses against zero-address during initialization in constructor is a security best-practice. However, such checks are missing in multiple constructors.
Allowing zero-addresses will lead to contract reverts and force redeployments if there are no setters for such address variables. So i suggest to Add zero-address checks in all the constructors.

2 Missing check address for burn

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L53

To avoid zero address. We suggest to add simple check zero address in the function.

#3 Missing check address for mint

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L59

To avoid zero address. We suggest to add simple check zero address in the mint function. look openzepellin docs.

#4 Must be immutable

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L16

the variable state can't be initialize by constructor due to missing immutable tag. the constructor parameter mention some variables state to initialize the value. so i suggest to add immutable to the variables .

#5 File natspec missing

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L24

the file has a natspec comment to explain utility about function or parameter. So add natspec comment to increase readability

#6 Natspec incomplete

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L53

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L59

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L65

Natspec comment incomplete. I suggest to complete the natspec comment.

#7 Missing indexed field

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L104-L106

event is missing indexed fields. Add indexed at important field for increase creadibility.

#8 Missing check amount must be greater than zero

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L53

add check requirement amount must be greater than zero to ensure theaccount have some amount check openzeppelin docs

#9 Use safeincrease/safedecrease or safeapprove

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETHMinter.sol#L75

the approve() function returns a boolean indicating whether it was successful or not. Best practice is to either check the return value or use safeApprove() / safeIncreaseAllowance() which will revert if the operation was unsuccessful. we suggest to use safeApprove() / safeIncreaseAllowance() instead of approve().

#10 Missing checks zero address recipient

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETHMinter.sol#L70

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETHMinter.sol#L85

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETHMinter.sol#L109

To avoid zero address in recipient address. We suggest to add simple check zero address in the function.

#1 Looping

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/ERC20/ERC20PermitPermissionedMint.sol#L84

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/OperatorRegistry.sol#L114

default uint is 0 so remove unnecassary explicit can reduce gas. pre increment e.g ++i more cheaper gas than post increment e.g i++. i suggest to use pre increment. caching the array length can reduce gas it caused access to a local variable is more cheap than query storage / calldata / memory in solidity.

#2 Use calldata instead of memory

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/OperatorRegistry.sol#L171

In the external functions where the function argument is read-only, the function() has an inputed parameter that using memory, if this function didnt change the parameter, its cheaper to use calldata then memory. so we suggest to change it.

#3 Use storage instead memory

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/OperatorRegistry.sol#L71-L72

Use storage instead of memory to reduce the gas fee. i suggest to change this.

#4 Visibility

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETHMinter.sol#L38-L39

change visibility from public to private or internal can save the gas.

#5 Use x = x + y or x = x - y more cheap than x += y or x -= y for state variables

https://github.com/code-423n4/2022-09-frax/blob/55ea6b1ef3857a277e2f47d42029bc0f3d6f9173/src/frxETHMinter.sol#L168

https://github.com/corddry/ERC4626/blob/643cd044fac34bcbf64e1c3790a5126fec0dbec1/src/xERC4626.sol#L72

https://github.com/corddry/ERC4626/blob/643cd044fac34bcbf64e1c3790a5126fec0dbec1/src/xERC4626.sol#L67

Change the state to x = x + y or x = x - y for gas efficiency

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