Project Background

Website Details

• Overnight.fi is a platform focused on optimizing returns for stablecoin assets. It offers users a way to earn a yield on their digital assets by leveraging various decentralized finance (DeFi) protocols. The website emphasizes security and ease of use, aiming to provide a stable and reliable income stream for users without the need to actively manage their investments.

Website: overnight.fi

Code Details

The solidity smart contract code provided is an implementation of an upgradeable ERC20 token with special features such as rebasing and non-rebasing supply management. This contract, named `UsdPlusToken`, incorporates several OpenZeppelin libraries and utilizes a proxy pattern for upgrades.

• Imports: Essential OpenZeppelin libraries are imported for ERC20 token standard, access control, upgradeability, and utility functions.

• Minting and Burning:

• • Functions to mint and burn tokens, updating supply and balances.
  • Restricted to the exchanger role to ensure only authorized contracts can mint/burn tokens.

• Rebasing Management:

• • Functions to opt-in and opt-out of rebasing, which adjust the account’s credits and the overall non-rebasing supply.
  • Internal `_isNonRebasingAccount` checks the rebasing state of an account.

• Upgradeability:

• • `_authorizeUpgrade` function to handle contract upgrades securely, restricted to the admin role.

Audit Summary

• We observed 5 Informational issues in the smart contracts. but those are not critical.
• The security state of the reviewed smart contract, based on standard audit procedure scope, is “Secured”.

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.

Audit Report in PDF

Audit Report Flip book