- Total Prize Pool: $15,000 in USDC
- HM awards: up to $10,500 USDC
- If no valid Highs or Mediums are found, the HM pool is $0
- Judge awards: $2,500 in USDC
- Validator awards: $1,500 USDC
- Scout awards: $500 in USDC
- HM awards: up to $10,500 USDC
- Read our guidelines for more details
- Starts April 2, 2025 20:00 UTC
- Ends April 11, 2025 20:00 UTC
Note re: risk level upgrades/downgrades
Two important notes about judging phase risk adjustments:
- High- or Medium-risk submissions downgraded to Low-risk (QA) will be ineligible for awards.
- Upgrading a Low-risk finding from a QA report to a Medium- or High-risk finding is not supported.
As such, wardens are encouraged to select the appropriate risk level carefully during the submission phase.
The 4naly3er report can be found here.
Note for C4 wardens: Anything included in this Automated Findings / Publicly Known Issues section is considered a publicly known issue and is ineligible for awards.
- The owner's keys could get compromised. Any key management is out of scope.
- The Chainlink oracle could be compromised or faulty, which would also be out of scope.
Any issues that have been marked as acknowledged in the original forked repository of Popcorn-Limited/bvusd as well as liquity/bold should be considered out-of-scope. Specifically:
- Any public issue in the Liquity repository, including
wontfixissues - Any known issue in the
bvusdrepository
If the impact of a previously acknowledged issue has been escalated adequately due to the delta introduced by the BitVault team, it may be considered in-scope for the contest.
The code of the BitVault project is a Liquity V2 fork introducing the following features:
- Dynamic Collateral Registry
- Whitelist Enforcement
- Configurable Collateral Ratios & Liquidation Configurations
- Shutdown Capability for Protocol Token Owner
- Previous audits:
-- ChainSecurity Audit Report -- Coinspect Audit Report -- Dedaub Audit Report Round I -- Dedaub Audit Report Round II - Documentation: https://github.com/Popcorn-Limited/bvusd/blob/main/README.md
- Website: https://www.bitvault.finance/
- X/Twitter: https://x.com/BitVaultFinance
See scope.txt
| File | nSLOC |
|---|---|
| contracts/src/CollateralRegistry.sol | 202 |
| contracts/src/StabilityPool.sol | 308 |
| contracts/src/BorrowerOperations.sol | 1102 |
| contracts/src/AddressesRegistry.sol | 193 |
| contracts/src/TroveManager.sol | 1397 |
| contracts/src/Dependencies/LiquityBase.sol | 67 |
| Totals | 3269 |
See out_of_scope.txt
| Question | Answer |
|---|---|
| ERC20 used by the protocol | WBTC, WETH |
| Test coverage | 99% (% Lines), 98.5% (% Functions) |
| ERC721 used by the protocol | None |
| ERC777 used by the protocol | None |
| ERC1155 used by the protocol | None |
| Chains the protocol will be deployed on | Arbitrum, Ethereum, Optimism |
| Question | Answer |
|---|---|
| Enabling/disabling fees (e.g. Blur disables/enables fees) | No |
| Pausability (e.g. Uniswap pool gets paused) | No |
| Upgradeability (e.g. Uniswap gets upgraded) | No |
N/A
Any invariants outlined in the original Popcorn-Limited/bvusd and liquity/bold are considered to be inherited by the BitVault implementation.
The main questions that are of concern are:
- Can whitelists be circumvented somehow?
- Could whitelist additions brick the original logic in any way?
We would also like to know if changing configurational values after deployment could cause any issues. In detail, we are not interested in economic issues due to a misconfiguration but rather actual code / state issues such as the code not being able to handle a variable update.
| Role | Description |
|---|---|
| Owner | Will be isolated in a 7/8 multisig |
N/A
To setup the project, make sure you have foundry installed and then execute:
git clone https://github.com/code-423n4/2025-04-bitvault
cd 2025-04-bitvault/contracts
forge installTo run tests:
forge testTo run code coverage:
sudo apt-get install lcov
forge coverage --report lcov
lcov --remove lcov.info 'test/*' 'script/*' -o lcov_filtered.info
lcov --extract lcov_filtered.info \
"src/CollateralRegistry.sol" \
"src/StabilityPool.sol" \
"src/BorrowerOperations.sol" \
"src/AddressesRegistry.sol" \
"src/Dependencies/LiquityBase.sol" \
"src/TroveManager.sol" \
-o lcov_scope.info
lcov --list lcov_scope.info| Filename | Lines | Functions |
|---|---|---|
| AddressesRegistry.sol | 96.0% (101) | 100% (7) |
| BorrowerOperations.sol | 98.4% (621) | 97.3% (74) |
| CollateralRegistry.sol | 99.2% (126) | 95.0% (20) |
| Dependencies/LiquityBase.sol | 100% (36) | 100% (9) |
| StabilityPool.sol | 99.5% (196) | 100% (28) |
| TroveManager.sol | 99.7% (672) | 100% (63) |
| Total: | 99.0% (1752) | 98.5% (201) |
Employees of BitVault and employees' family members are ineligible to participate in this audit.
Code4rena's rules cannot be overridden by the contents of this README. In case of doubt, please check with C4 staff.