Security Audit
Feb 11, 2025
Version 1.0.0
Presented by 0xMacro
This document includes the results of the security audit for Seven Seas's smart contract code as found in the section titled ‘Source Code’. The security audit performed by the Macro security team over multiple days starting January 28th.
The purpose of this audit is to review the source code of certain Seven Seas Solidity contracts, and provide feedback on the design, architecture, and quality of the source code with an emphasis on validating the correctness and security of the software in its entirety.
Disclaimer: While Macro’s review is comprehensive and has surfaced some changes that should be made to the source code, this audit should not solely be relied upon for security, as no single audit is guaranteed to catch all possible bugs.
The following is an aggregation of issues found by the Macro Audit team:
Severity | Count | Acknowledged | Won't Do | Addressed |
---|---|---|---|---|
Low | 2 | - | - | 2 |
Seven Seas was quick to respond to these issues.
Our understanding of the specification was based on the following sources:
The following source code was reviewed during the audit:
ef6d0192c0c6ab0d4fb5d5f800320c6c1779948b
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/UniswapV2DecoderAndSanitizer.sol |
|
1ac1f8f3a6fb88abac800a0099f42603a050b541
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/RoycoDecoderAndSanitizer.sol |
|
f1437908bc3fbdbef9948d450192871725428b41
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/RoycoDecoderAndSanitizer.sol |
|
6e7ca7a01bf69b3c132ad5e7ef2c04ae95f3395a
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/DolomiteDecoderAndSanitizer.sol |
|
3b97d95e53a086c670c485e424564390ad8d8704
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/KodiakIslandDecoderAndSanitizer.sol |
|
f6753b257749a5dec6643ed6896e4ae8f1262075
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/HoneyDecoderAndSanitizer.sol |
|
5135a52a15f08007c4643619deb6d30e8c80fb76
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/InfraredDecoderAndSanitizer.sol |
|
fafa7f5bd19d2430f8c99cdaab71fca09ec36e13
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/BeraETHDecoderAndSanitizer.sol |
|
33828c8c732a9f7b39a3d5c98800390fa72fa339
Source Code | SHA256 |
---|---|
src/base/DecodersAndSanitizers/Protocols/GoldiVaultDecoderAndSanitizer.sol |
|
Note: This document contains an audit solely of the Solidity contracts listed above. Specifically, the audit pertains only to the contracts themselves, and does not pertain to any other programs or scripts, including deployment scripts.
Click on an issue to jump to it, or scroll down to see them all.
We quantify issues in three parts:
This third part – the severity level – is a summary of how much consideration the client should give to fixing the issue. We assign severity according to the table of guidelines below:
Severity | Description |
---|---|
(C-x) Critical |
We recommend the client must fix the issue, no matter what, because not fixing would mean significant funds/assets WILL be lost. |
(H-x) High |
We recommend the client must address the issue, no matter what, because not fixing would be very bad, or some funds/assets will be lost, or the code’s behavior is against the provided spec. |
(M-x) Medium |
We recommend the client to seriously consider fixing the issue, as the implications of not fixing the issue are severe enough to impact the project significantly, albiet not in an existential manner. |
(L-x) Low |
The risk is small, unlikely, or may not relevant to the project in a meaningful way. Whether or not the project wants to develop a fix is up to the goals and needs of the project. |
(Q-x) Code Quality |
The issue identified does not pose any obvious risk, but fixing could improve overall code quality, on-chain composability, developer ergonomics, or even certain aspects of protocol design. |
(I-x) Informational |
Warnings and things to keep in mind when operating the protocol. No immediate action required. |
(G-x) Gas Optimizations |
The presented optimization suggestion would save an amount of gas significant enough, in our opinion, to be worth the development cost of implementing it. |
In DolomiteDecoderAndSanitizer.sol
both closeBorrowPosition()
and closeBorrowPositionWithDifferentAccounts()
do not sanitize the _collateralMarketIds
of the position being closed. Although the marketIds and their associated tokens are likely already whitelisted, verifying the vault is intended to interact with these particular markets for additional safety is advised.
In RoycoDecoderAndSanitizer.sol
the function to allow withdrawals on the destination chain once able via DepositExecutor.sol:withdrawMerkleDeposit()
is missing.
Remediations to Consider
Add the withdrawMerkleDeposit() function to RoycoDecoderAndSanitizer.sol
.
Macro makes no warranties, either express, implied, statutory, or otherwise, with respect to the services or deliverables provided in this report, and Macro specifically disclaims all implied warranties of merchantability, fitness for a particular purpose, noninfringement and those arising from a course of dealing, usage or trade with respect thereto, and all such warranties are hereby excluded to the fullest extent permitted by law.
Macro will not be liable for any lost profits, business, contracts, revenue, goodwill, production, anticipated savings, loss of data, or costs of procurement of substitute goods or services or for any claim or demand by any other party. In no event will Macro be liable for consequential, incidental, special, indirect, or exemplary damages arising out of this agreement or any work statement, however caused and (to the fullest extent permitted by law) under any theory of liability (including negligence), even if Macro has been advised of the possibility of such damages.
The scope of this report and review is limited to a review of only the code presented by the Seven Seas team and only the source code Macro notes as being within the scope of Macro’s review within this report. This report does not include an audit of the deployment scripts used to deploy the Solidity contracts in the repository corresponding to this audit. Specifically, for the avoidance of doubt, this report does not constitute investment advice, is not intended to be relied upon as investment advice, is not an endorsement of this project or team, and it is not a guarantee as to the absolute security of the project. In this report you may through hypertext or other computer links, gain access to websites operated by persons other than Macro. Such hyperlinks are provided for your reference and convenience only, and are the exclusive responsibility of such websites’ owners. You agree that Macro is not responsible for the content or operation of such websites, and that Macro shall have no liability to your or any other person or entity for the use of third party websites. Macro assumes no responsibility for the use of third party software and shall have no liability whatsoever to any person or entity for the accuracy or completeness of any outcome generated by such software.