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Twin Protocol

Audit name:

[SCA] Twin Protocol | TWIN-Token-Contract | Aug2024

Date:

Aug 30, 2024

Table of Content

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

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Introduction

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

TwinProtocolToken is a simple ERC-20 token which mints all the total supply to the deployer. The contract also implements burnable functionalities.

Document

NameSmart Contract Code Review and Security Analysis Report for Twin Protocol
Audited ByFarrukh Odinaev
Approved ByYves Toiser
Websitehttps://twinprotocol.com/→
Changelog21/08/2024 - Preliminary Report & 30/08/2024 - Final Report
PlatformEthereum
LanguageSolidity
TagsERC20
Methodologyhttps://hackenio.cc/sc_methodology→

Review Scope

Repositoryhttps://github.com/VDoITGit/TWIN-token-contract→
Commit51c3d62

Audit Summary

1Total Findings
1Resolved
0Accepted
0Mitigated

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

Documentation quality

  • Functional requirements are  provided.

  • Technical description is  not provided.

Code quality

  • The code adheres to Solidity Style Guide's recommendation. The code code adheres to best practices in terms of readability.

  • The development environment is configured.

Test coverage

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

  • Tests are not mandatory below 250 lines of code.

System Overview

TwinProtocolToken  — simple ERC-20 token that mints all initial supply to a deployer. Additional minting is not allowed. The contract  additionally implements burnable functionalities.

It has the following attributes:

  • Name: Will be set at deployment.

  • Symbol: Will be set at deployment.

  • Decimals: 18

  • Total supply: 1 billion tokens.

Privileged roles

  • There are no privileged roles

Risks

The contract mints the entire token supply to the deployer upon deployment, creating a significant centralization risk. This concentration of tokens in a single address gives the deployer disproportionate control over the token's distribution and potentially the protocol's governance.

Findings

F-2024-5468Unnecessary type conversion in setting of MAX_SUPPLY state variable
Status
fixed
Severity

Observation
Code
―
Title
Status
Severity
F-2024-5468Unnecessary type conversion in setting of MAX_SUPPLY state variable
fixed

Observation
1-1 of 1 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

contracts
TwinProtocolToken.sol - contracts › TwinProtocolToken.sol

Disclaimer