Frax Ether Token Smart Contract Audit

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


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