Q2 2026 Security & Compliance Report67 incidents, $764M in losses, 88% from operational failures.
Get the report →
Parallax logo

Parallax

Audit name:

[SCA] Parallax | ERC20 | Jul2023

Date:

Aug 3, 2023

Table of Content

→Introduction
→Audit Summary
→Document Information
→System Overview
→Executive Summary
→Risks
→Findings
→Appendix 1. Severity Definitions
→Appendix 2. Scope
→Disclaimer

Want a comprehensive audit report like this?

Introduction

We express our gratitude to the Parallax team for the collaborative engagement that enabled the execution of this Smart Contract Security Assessment.

Parallax → aims to be the meta-strategy hub with a keen focus on LSDfi products.

titlecontent
PlatformEVM
LanguageSolidity
TagsERC20 compliant token
Timeline28/07/2023 - 03/08/2023
Methodologyhttps://hackenio.cc/sc_methodology→

    Review Scope

    Repositoryhttps://bitbucket.ideasoft.io/projects/PAR/repos/orbital/commits/ce36065d8a95490264f215230c46816c87382444#contracts/ERC20→
    Commitce36065d8a9

    Audit Summary

    Total10/10
    Security Score

    10/10

    Test Coverage

    100%

    Code Quality Score

    10/10

    Documentation Quality Score

    10/10

    2Total Findings
    1Resolved
    0Accepted
    1Mitigated

    The system users should acknowledge all the risks summed up in the risks section of the report

    Document Information

    This report may contain confidential information about IT systems and the intellectual property of the Customer, as well as information about potential vulnerabilities and methods of their exploitation.

    The report can be disclosed publicly after prior consent by another Party. Any subsequent publication of this report shall be without mandatory consent.

    Document

    NameSmart Contract Code Review and Security Analysis Report for Parallax
    Audited ByHacken
    Websitehttps://parallaxfinance.org/→
    Changelog31/07/2023 - Initial Review
    03/08/2023 - Second Review

    • Document

      Name
      Smart Contract Code Review and Security Analysis Report for Parallax
      Audited By
      Hacken
      Website
      https://parallaxfinance.org/→
      Changelog
      31/07/2023 - Initial Review
      03/08/2023 - Second Review

    System Overview

    Parallax is the meta-strategy hub that provides supercharged yields with the following contracts:

    • Plx.sol — The Plx smart contract is an ERC-20 compliant token with additional functionality for managing tokenomic categories and roles for minting and burning tokens. The sum of tokens must not exceed the MAXTOTALSUPPLY. The service will call the 'mint' method daily to release new tokens according to the tokenomics. PLX is the native token for all Parallax Finance products. PLX holders should be able to add the token as liquidity to liquidity pools so that they are eligible to receive in exchange such tokens that can be locked using Parallax in order to obtain benefits from the Parallax Finance. It has the following attributes:

      • Name: Parallax Token

      • Symbol: PLX

      • Decimals: 18

      • Total supply: 100m tokens

    Privileged roles

    • The DEFAFULTADMINROLE role is able to:

      • withdraws an ERC-20 token that accidentally ended up on this contract and cannot be used in any way.

      • grants role to account. If account had not been already granted role.

      • revokes role from account

    • The BURNER_ROLE role is able to burns tokens.

    • The MINTER_ROLE role is able to mint tokens.

    Executive Summary

    Documentation quality

    The total Documentation quality score is 10 out of 10.

    • Functional requirements are detailed.

    • Technical description is a bit inaccurate.

    • NatSpec covers most of the code.

    Code quality

    The total Code quality score is 10 out of 10.

    • The development environment is configured.

    • The code is structured and function/contract interactions are clear.

    Test coverage

    Code coverage of the project is 100% (branch coverage).

    • Since the audit Lines of Code do not exceed 250, this does not affect the score.

    Security score

    Upon auditing, the code was found to contain 0 critical, 0 high, 0 medium, and 1 low severity issues. Out of these, 1 issues have been addressed and resolved, leading to a Security score of 10 out of 10.

    All identified issues are detailed in the “Findings” section of this report.

    Summary

    The comprehensive audit of the customer's smart contract yields an overall score of 10. This score reflects the combined evaluation of documentation, code quality, test coverage, and security aspects of the project.

    Scoring Methodologyarrow right

    Risks

    Iterating over a dynamic array populated with custom categoryIds can lead to Gas limit denial of service if the number of tokenomics categoryIds goes out of control.

    The upgradeable nature of the contracts puts the user funds at risk in case of a logic upgrade.

    Findings

    F-2023-0899Missing Zero Address Validation
    Status
    fixed
    Severity

    Low
    I-2023-0216Outdated Solidity Version
    Status
    mitigated
    Severity

    Observation
    Code
    ―
    Title
    Status
    Severity
    F-2023-0899Missing Zero Address Validation
    fixed

    Low
    I-2023-0216Outdated Solidity Version
    mitigated

    Observation
    1-2 of 2 findings

    Identify vulnerabilities in your smart contracts.

    Appendix 1. Severity Definitions

    When auditing smart contracts, Hacken is using a risk-based approach that considers Likelihood, Impact, Exploitability and Complexity metrics to evaluate findings and score severities.

    Reference on how risk scoring is done is available through the repository in our Github organization:

    Severity

    Description

    Critical
    		Critical vulnerabilities are usually straightforward to exploit and can lead to the loss of user funds or contract state manipulation.

    High
    		High vulnerabilities are usually harder to exploit, requiring specific conditions, or have a more limited scope, but can still lead to the loss of user funds or contract state manipulation.

    Medium
    		Medium vulnerabilities are usually limited to state manipulations and, in most cases, cannot lead to asset loss. Contradictions and requirements violations. Major deviations from best practices are also in this category.

    Low
    		Major deviations from best practices or major Gas inefficiency. These issues will not have a significant impact on code execution, do not affect security score but can affect code quality score.

    • Severity

      Critical

      Description

      Critical vulnerabilities are usually straightforward to exploit and can lead to the loss of user funds or contract state manipulation.

      Severity

      High

      Description

      High vulnerabilities are usually harder to exploit, requiring specific conditions, or have a more limited scope, but can still lead to the loss of user funds or contract state manipulation.

      Severity

      Medium

      Description

      Medium vulnerabilities are usually limited to state manipulations and, in most cases, cannot lead to asset loss. Contradictions and requirements violations. Major deviations from best practices are also in this category.

      Severity

      Low

      Description

      Major deviations from best practices or major Gas inefficiency. These issues will not have a significant impact on code execution, do not affect security score but can affect code quality score.

    Appendix 2. Scope

    The scope of the project includes the following smart contracts from the provided repository:

    Contracts in Scope

    Plx.sol - Plx.sol

    Disclaimer