Project Background

• The Frax Ether is an ERC20-based smart contract. Here’s an overview of the key functionalities added:
• Ownership and Governance: The Owned contract allows for ownership control and governance, including the ability to nominate and accept new owners.
• Minter Permissions:
  • The contract includes an array and a mapping to manage a list of minters who have the ability to mint new tokens.
  • Functions to add and remove minters with appropriate access control using onlyByOwnGov modifier.
• Minting and Burning:
  • Minters can mint new tokens and burn tokens from a specified address using the minter_mint and minter_burn_from functions respectively.
  • Events are emitted to log the minting and burning activities.
• Timelock Control: The contract includes functionality to set and change a timelock address which can also perform governance functions alongside the owner.
• Access Control Modifiers:
  • onlyByOwnGov ensures that only the owner or timelock address can perform certain actions.
  • onlyMinters ensures that only approved minters can mint or burn tokens.
• These additions ensure that the contract has robust access control and governance mechanisms while allowing for flexible minting and burning of tokens by authorized addresses.

Executive Audit Summary

• According to the standard audit assessment, the Customer`s solidity smart contracts are “Secured”.  Also, these contracts contain owner control, which does not make them fully decentralized.
• We used various tools like Slither, Solhint and Remix IDE. At the same time this finding is based on critical analysis of the manual audit.
• We found 0 critical, 0 high, 0 medium, 1 low and 3 very low-level issues.

Audit Report in PDF

Audit Report Flip book