HedgeX Info
Hedgex 2.0 is the first fully decentralized platform combining automated hedging and seamless decentralized trading, leveraging the DeFi tech. With 3-tiered exposure and profit-generating mechanisms, it offers unparalleled security and returns. Integrated with tech liquidity aggregation, it provides optimal hedge-optimal rates, and instant execution.
TrustNet Score
The TrustNet Score evaluates crypto projects based on audit results, security, KYC verification, and social media presence. This score offers a quick, transparent view of a project's credibility, helping users make informed decisions in the Web3 space.
Real-Time Threat Detection
Real-time threat detection, powered by Cyvers.io,
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Security Assessments
Summary and Final Words
No crucial issues found
The contract does not contain issues of high or medium criticality. This means that no known vulnerabilities were found in the source code.
Contract owner can mint
It is possible to mint new tokens.
Contract owner cannot blacklist addresses.
It is not possible to lock user funds by blacklisting addresses.
Contract owner cannot set high fees
The fees, if applicable, can be a maximum of 25% or lower. The contract can therefore not be locked. Please take a look in the comment section for more details.
Contract cannot be locked
Owner cannot lock any user funds.
Token cannot be burned
There is no burning within the contract without any allowances
Ownership is not renounced
The owner retains significant control, which could potentially be used to modify key contract parameters.
Contract is not upgradeable
The contract does not use proxy patterns or other mechanisms to allow future upgrades. Its behavior is locked in its current state.
Scope of Work
This audit encompasses the evaluation of the files listed below, each verified with a SHA-1 Hash. The team referenced above has provided the necessary files for assessment.
The auditing process consists of the following systematic steps:
- Specification Review: Analyze the provided specifications, source code, and instructions to fully understand the smart contract's size, scope, and functionality.
- Manual Code Examination: Conduct a thorough line-by-line review of the source code to identify potential vulnerabilities and areas for improvement.
- Specification Alignment: Ensure that the code accurately implements the provided specifications and intended functionalities.
- Test Coverage Assessment: Evaluate the extent and effectiveness of test cases in covering the codebase, identifying any gaps in testing.
- Symbolic Execution: Analyze the smart contract to determine how various inputs affect execution paths, identifying potential edge cases and vulnerabilities.
- Best Practices Evaluation: Assess the smart contracts against established industry and academic best practices to enhance efficiency, maintainability, and security.
- Actionable Recommendations: Provide detailed, specific, and actionable steps to secure and optimize the smart contracts.
A file with a different Hash has been intentionally or otherwise modified after the security review. A different Hash may indicate a changed condition or potential vulnerability that was not within the scope of this review.
Final Words
The following provides a concise summary of the audit report, accompanied by insightful comments from the auditor. This overview captures the key findings and observations, offering valuable context and clarity.
Ownership Privileges
- The owner can set the automated market maker pair address.
- The owner can exclude wallets from fees.
- The owner can set the burn tax to not more than 1%.
- The owner can set the supply floor cap to not less than the supply cap.
- The owner can mint new tokens not more than the max supply.
- The owner can take a snapshot.
Note - This Audit report consists of a security analysis of the HedgexDAO smart contract. This analysis did not include functional testing (or unit testing) of the contract’s logic. Moreover, we only audited one token contract for the Hedgex team. Other contracts associated with the project were not audited by our team. We recommend investors do their own research before investing.
Files and details
Functions
public
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State variables
public
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Total lines
of code
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Capabilities
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Findings and Audit result
high Issues | 1 findings
Acknowledged
#1 high Issue
Owner Can Counteract Deflationary Burns by Minting New Tokens
The contract includes functionality to burn tokens through both a transaction tax (_transfer) and manual calls (burn, burnFrom), which reduces the totalSupply. However, the contract also grants the owner the unilateral ability to create new tokens at any time via the mint function, as long as the total supply remains below the initial supply cap. This creates a potential conflict with the deflationary aspect of the burn mechanism. A malicious or centralized owner could allow tokens to be burned by the community and then mint an equivalent amount back to themselves, effectively diluting the value for all other holders and negating the intended scarcity benefits of the burn. This centralization of minting power undermines the predictability and trust in the token's economic model.
informational Issues | 3 findings
Pending
#1 informational Issue
Restricted View Function
The getCurrentSnapshot view function is restricted to onlyOwner. Snapshot IDs are not sensitive data, and making this public would improve transparency for governance participants.
Pending
#2 informational Issue
Missing events arithmetic
It is recommended to emit all the critical parameter changes.
Pending
#3 informational Issue
Ineffective Minimum Fee Logic
The logic to enforce a minimum fee of 1 wei (line 152) only applies to transfers of amounts between 2 and 999. Larger transfers that would result in a zero fee (due to low tax rate) are not covered.