PropFund Info
PropFund is an IBC-enabled Layer 1 blockchain project that aims to provide multidimensional access to real-world assets, including nickel trading, distressed assets, distressed businesses, palm oil, and more. The platform leverages the tokenization of asset ownership to generate income in USDT.
TrustNet Score
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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 cannot mint
It is not 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.
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 initialize settings only once.
- The owner can disable limits.
- The owner can update the final buy and sell tax of not more than 10%.
- The owner can enable trading only once.
The contract contains the functionality wherethe initial buy and sell tax is set to 20 and 25% respectively. After 45 transactions the buy and sell tax will be set to 4% in the contract.
Note - This Audit report consists of a security analysis of the PropFund Token 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 PropFund team, other contracts associated with the project were not audited by our team. We recommend investors to 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
medium Issues | 2 findings
Pending
#1 medium Issue
Transfer of tokens without enabling trade.
The trading needs to be enabled by the owner in order for regular users to transfer tokens. On the contrary, the owner can authorize addresses manually and those addresses will be able to trade tokens. This functionality can be exploited in the following way, For example, there is a presale and the wallets used for the presale can be authorized by the owner. All the tokens obtained can be consolidated into a final wallet address and facilitate trading and selling of the acquired tokens, the last wallet address can be authorized.
Pending
#2 medium Issue
Liquidity is adding to externally owned address
The contract's liquidity is automatically added to the 'owner' address, which is not recommended because, in an extreme scenario, this can be used to drain liquidity from the contract.
low Issues | 3 findings
Pending
#1 low Issue
Remove safemath library
The compiler version above 0.8.0 has the ability to control arithmetic overflow/underflow. It is recommended to remove the unwanted code in order to avoid high gas fees.
Pending
#2 low Issue
Missing events arithmetic
Emit all the critical parameter changes.
Pending
#3 low Issue
Missing zero address validation.
Check that the address cannot be set to zero or dead.
optimization Issues | 1 findings
Pending
#1 optimization Issue
Public function that could be declared external (external-function)
Use the `external` attribute for functions never called from the contract.