Blueprint: Glow Assessment - Blueprint Finance

Prepared by:

HALBORN

Last Updated 10/15/2025

Date of Engagement: December 13th, 2024 - March 14th, 2025

Summary

100% of all REPORTED Findings have been addressed

All findings

Critical

High

Medium

Low

Informational

1. Undefined
2. Introduction
3. Assessment summary
4. Test approach and methodology
5. Risk methodology
6. Scope
7. Assessment summary & findings overview
8. Findings & Tech Details

8.1 Registry account can be closed by an arbitrary user
8.2 Two step authority transfer not implemented
8.3 Realloc re-initialization wastes compute units
8.4 Missing mint extensions validation
8.5 Airspace authorities can manipulate arbitrary metadata accounts
8.6 Administrator can transfer positions to another user
8.7 Unverified program parameters leading to misconfiguration risks
8.8 Liquidators may leave liquidated accounts unhealthy
8.9 Permit revocation of a revoked regulator cannot be done by anyone as intended
8.10 Fee owner cannot withraw fees
8.11 Risk of undefined behavior due to stack overflow
8.12 Permitissuerrevoke helper function uses incorrect instruction data
8.13 Unnecessary unsafe code
8.14 Unused tokenconfig fields result in incorrect token standard determination
8.15 Risk of incorrect interest rate calculation
8.16 Risk of unhandled panics

9. Automated Testing

1. undefined

2. Introduction

Blueprint Finance engaged Halborn to conduct a security assessment on their Glow V1 and Lookup Table Registry Solana programs beginning on December 13th, 2024, and ending on February 28th, 2025. The security assessment was scoped to the Solana Programs provided in glow-v1 and lookup-table-registry GitHub repositories. Commit hashes and further details can be found in the Scope section of this report.

The Glow V1 program is a noncustodial borrowing and lending protocol consisting of four interconnected programs:

Airspace – Implements a permission system that isolates markets and controls which programs users in those markets can interact with.
Metadata – Manages program metadata, including enabled trading/deposit tokens and oracle information.
Margin – Allows users to interact with other programs using lower collateral than required for direct interaction.
Margin-Pool – Implements a variable-rate lending and borrowing pools.

The Lookup Table Registry is a program for creating and tracking address lookup tables.

During the security assessment, the Glow team implemented two code updates:

Removed the control program previously used for bootstrapping and configuring margin pools.
Added support for the pull-based Pyth oracle architecture.

3. Assessment Summary

Halborn was provided 11 weeks for the engagement and assigned one full-time security engineer to review the security of the Solana Programs in scope. The engineer is a blockchain and smart contract security expert with advanced smart contract hacking skills, and deep knowledge of multiple blockchain protocols.

The purpose of the assessment is to:

Identify potential security issues within the Solana Programs.
Ensure that smart contract functionality operates as intended.

In summary, Halborn identified some security concerns that were mostly addressed by the Glow team. The main ones were the following:

Verify that registry accounts can be closed only by a dedicated authority.
Implement two step authority transfer.
Make sure the administrator cannot transfer positions to different user.
Properly verify instruction parameters.
Validate mint extensions to avoid potentially dangerous extensions.
Make sure the liquidator are incentivized to restore accounts to healthy state.
Prevent the airspace authorities to manipulate arbitrary metadata accounts.
Optimize reallocations by ensuring new memory is not zeroed twice.

4. Test Approach and Methodology

Halborn performed a combination of a manual review of the source code and automated security testing to balance efficiency, timeliness, practicality, and accuracy in regard to the scope of the program assessment. While manual testing is recommended to uncover flaws in business logic, processes, and implementation; automated testing techniques help enhance coverage of programs and can quickly identify items that do not follow security best practices.

The following phases and associated tools were used throughout the term of the assessment:

- Research into the architecture, purpose, and use of the platform.

- Manual program source code review to identify business logic issues.

- Mapping out possible attack vectors

- Thorough assessment of safety and usage of critical Rust variables and functions in scope that could lead to arithmetic vulnerabilities.

- Scanning dependencies for known vulnerabilities (

cargo audit

- Local runtime testing (

solana-test-framework

5. RISK METHODOLOGY

Every vulnerability and issue observed by Halborn is ranked based on two sets of Metrics and a Severity Coefficient. This system is inspired by the industry standard Common Vulnerability Scoring System.

The two Metric sets are: Exploitability and Impact. Exploitability captures the ease and technical means by which vulnerabilities can be exploited and Impact describes the consequences of a successful exploit.

The Severity Coefficients is designed to further refine the accuracy of the ranking with two factors: Reversibility and Scope. These capture the impact of the vulnerability on the environment as well as the number of users and smart contracts affected.

The final score is a value between 0-10 rounded up to 1 decimal place and 10 corresponding to the highest security risk. This provides an objective and accurate rating of the severity of security vulnerabilities in smart contracts.

The system is designed to assist in identifying and prioritizing vulnerabilities based on their level of risk to address the most critical issues in a timely manner.

5.1 EXPLOITABILITY

Attack Origin (AO):

Captures whether the attack requires compromising a specific account.

Attack Cost (AC):

Captures the cost of exploiting the vulnerability incurred by the attacker relative to sending a single transaction on the relevant blockchain. Includes but is not limited to financial and computational cost.

Attack Complexity (AX):

Describes the conditions beyond the attacker’s control that must exist in order to exploit the vulnerability. Includes but is not limited to macro situation, available third-party liquidity and regulatory challenges.

Metrics:

EXPLOITABILITY METRIC ( $m_e$ )	METRIC VALUE	NUMERICAL VALUE
Attack Origin (AO)	Arbitrary (AO:A) Specific (AO:S)	1 0.2
Attack Cost (AC)	Low (AC:L) Medium (AC:M) High (AC:H)	1 0.67 0.33
Attack Complexity (AX)	Low (AX:L) Medium (AX:M) High (AX:H)	1 0.67 0.33

Exploitability

E

is calculated using the following formula:

$E = \prod m_e$

5.2 IMPACT

Confidentiality (C):

Measures the impact to the confidentiality of the information resources managed by the contract due to a successfully exploited vulnerability. Confidentiality refers to limiting access to authorized users only.

Integrity (I):

Measures the impact to integrity of a successfully exploited vulnerability. Integrity refers to the trustworthiness and veracity of data stored and/or processed on-chain. Integrity impact directly affecting Deposit or Yield records is excluded.

Availability (A):

Measures the impact to the availability of the impacted component resulting from a successfully exploited vulnerability. This metric refers to smart contract features and functionality, not state. Availability impact directly affecting Deposit or Yield is excluded.

Deposit (D):

Measures the impact to the deposits made to the contract by either users or owners.

Yield (Y):

Measures the impact to the yield generated by the contract for either users or owners.

Metrics:

IMPACT METRIC ( $m_I$ )	METRIC VALUE	NUMERICAL VALUE
Confidentiality (C)	None (C:N) Low (C:L) Medium (C:M) High (C:H) Critical (C:C)	0 0.25 0.5 0.75 1
Integrity (I)	None (I:N) Low (I:L) Medium (I:M) High (I:H) Critical (I:C)	0 0.25 0.5 0.75 1
Availability (A)	None (A:N) Low (A:L) Medium (A:M) High (A:H) Critical (A:C)	0 0.25 0.5 0.75 1
Deposit (D)	None (D:N) Low (D:L) Medium (D:M) High (D:H) Critical (D:C)	0 0.25 0.5 0.75 1
Yield (Y)	None (Y:N) Low (Y:L) Medium (Y:M) High (Y:H) Critical (Y:C)	0 0.25 0.5 0.75 1

Impact

I

is calculated using the following formula:

$I = max(m_I) + \frac{\sum{m_I} - max(m_I)}{4}$

5.3 SEVERITY COEFFICIENT

Reversibility (R):

Describes the share of the exploited vulnerability effects that can be reversed. For upgradeable contracts, assume the contract private key is available.

Scope (S):

Captures whether a vulnerability in one vulnerable contract impacts resources in other contracts.

Metrics:

SEVERITY COEFFICIENT ( $C$ )	COEFFICIENT VALUE	NUMERICAL VALUE
Reversibility ( $r$ )	None (R:N) Partial (R:P) Full (R:F)	1 0.5 0.25
Scope ( $s$ )	Changed (S:C) Unchanged (S:U)	1.25 1

Severity Coefficient

C

is obtained by the following product:

$C = rs$

The Vulnerability Severity Score

S

is obtained by:

$S = min(10, EIC * 10)$

The score is rounded up to 1 decimal places.

Severity	Score Value Range
Critical	9 - 10
High	7 - 8.9
Medium	4.5 - 6.9
Low	2 - 4.4
Informational	0 - 1.9

6. SCOPE

REPOSITORIES

(a) Repository: glow-v1

(b) Assessed Commit ID: 47367ed

./programs/margin-pool/Cargo.toml
./programs/margin-pool/Xargo.toml
./programs/margin-pool/src/instructions/margin_refresh_position.rs
./programs/margin-pool/src/instructions/close_loan.rs
./programs/margin-pool/src/instructions/configure.rs
./programs/margin-pool/src/instructions/withdraw.rs
./programs/margin-pool/src/instructions/repay.rs
./programs/margin-pool/src/instructions/margin_borrow_v2.rs
./programs/margin-pool/src/instructions/deposit.rs
./programs/margin-pool/src/instructions/admin/mod.rs
./programs/margin-pool/src/instructions/admin/admin_transfer_loan.rs
./programs/margin-pool/src/instructions/collect.rs
./programs/margin-pool/src/instructions/margin_repay.rs
./programs/margin-pool/src/instructions/create_pool.rs
./programs/margin-pool/src/instructions/margin_borrow.rs
./programs/margin-pool/src/instructions/register_loan.rs
./programs/margin-pool/src/instructions.rs
./programs/margin-pool/src/events.rs
./programs/margin-pool/src/util.rs
./programs/margin-pool/src/lib.rs
./programs/margin-pool/src/state.rs
./programs/airspace/Cargo.toml
./programs/airspace/Xargo.toml
./programs/airspace/src/instructions/airspace_permit_revoke.rs
./programs/airspace/src/instructions/airspace_permit_issuer_revoke.rs
./programs/airspace/src/instructions/airspace_set_authority.rs
./programs/airspace/src/instructions/airspace_create.rs
./programs/airspace/src/instructions/create_governor_id.rs
./programs/airspace/src/instructions/set_governor.rs
./programs/airspace/src/instructions/mod.rs
./programs/airspace/src/instructions/airspace_permit_issuer_create.rs
./programs/airspace/src/instructions/airspace_permit_create.rs
./programs/airspace/src/events.rs
./programs/airspace/src/lib.rs
./programs/airspace/src/state.rs
./programs/margin/Cargo.toml
./programs/margin/Xargo.toml
./programs/margin/src/instructions/accounting_invoke.rs
./programs/margin/src/instructions/configure/configure_account_airspace.rs
./programs/margin/src/instructions/configure/configure_adapter.rs
./programs/margin/src/instructions/configure/mod.rs
./programs/margin/src/instructions/configure/configure_permit.rs
./programs/margin/src/instructions/configure/configure_token.rs
./programs/margin/src/instructions/register_position.rs
./programs/margin/src/instructions/verify_healthy.rs
./programs/margin/src/instructions/admin/admin_transfer_position.rs
./programs/margin/src/instructions/admin/mod.rs
./programs/margin/src/instructions/adapter_invoke.rs
./programs/margin/src/instructions/verify_unhealthy.rs
./programs/margin/src/instructions/close_position.rs
./programs/margin/src/instructions/liquidate_end.rs
./programs/margin/src/instructions/create_account.rs
./programs/margin/src/instructions/update_position_balance.rs
./programs/margin/src/instructions/liquidator_invoke.rs
./programs/margin/src/instructions/liquidate_begin.rs
./programs/margin/src/instructions/positions/refresh_deposit_position.rs
./programs/margin/src/instructions/positions/transfer_deposit.rs
./programs/margin/src/instructions/positions/create_deposit_position.rs
./programs/margin/src/instructions/positions/mod.rs
./programs/margin/src/instructions/positions/refresh_position_config.rs
./programs/margin/src/instructions/lookup_tables/create_lookup_table.rs
./programs/margin/src/instructions/lookup_tables/append_to_lookup.rs
./programs/margin/src/instructions/lookup_tables/mod.rs
./programs/margin/src/instructions/lookup_tables/init_lookup_registry.rs
./programs/margin/src/instructions/close_account.rs
./programs/margin/src/instructions.rs
./programs/margin/src/adapter.rs
./programs/margin/src/events.rs
./programs/margin/src/util.rs
./programs/margin/src/lib.rs
./programs/margin/src/state/config.rs
./programs/margin/src/state/account.rs
./programs/margin/src/state/account/positions.rs
./programs/margin/src/state.rs
./programs/margin/src/seeds.rs
./programs/margin/src/syscall.rs
./programs/metadata/Cargo.toml
./programs/metadata/Xargo.toml
./programs/metadata/src/lib.rs
./programs/control/Cargo.toml
./programs/control/Xargo.toml
./programs/control/src/instructions/create_margin_pool.rs
./programs/control/src/instructions/create_authority.rs
./programs/control/src/instructions/configure_margin_pool.rs
./programs/control/src/instructions.rs
./programs/control/src/events.rs
./programs/control/src/lib.rs
./Cargo.toml
./Anchor.toml
./libraries/rust/instructions/src/airspace.rs
./libraries/rust/program-proc-macros/Cargo.toml
./libraries/rust/program-proc-macros/src/lib.rs
./libraries/rust/program-proc-macros/src/mem.rs
./libraries/rust/instructions/Cargo.toml
./libraries/rust/instructions/src/margin.rs
./libraries/rust/instructions/src/control.rs
./libraries/rust/instructions/src/lib.rs
./libraries/rust/instructions/src/test_service.rs
./libraries/rust/instructions/src/margin_pool.rs
./libraries/rust/tools/Cargo.toml
./libraries/rust/tools/src/lookup_tables.rs
./libraries/rust/tools/src/lib.rs
./libraries/rust/solana-client/Cargo.toml
./libraries/rust/program-common/Cargo.toml
./libraries/rust/program-common/src/pod.rs
./libraries/rust/program-common/src/number_128.rs
./libraries/rust/program-common/src/fp32.rs
./libraries/rust/program-common/src/number.rs
./libraries/rust/program-common/src/log.rs
./libraries/rust/program-common/src/lib.rs
./libraries/rust/program-common/src/functions.rs
./libraries/rust/program-common/src/serialization.rs
./libraries/rust/program-common/src/interest_pricing.rs
./libraries/rust/program-common/src/traits.rs
./libraries/rust/program-common/src/valuation.rs

./programs/margin-pool/Cargo.toml
./programs/margin-pool/Xargo.toml
./programs/margin-pool/src/instructions/margin_refresh_position.rs

↓ Expand ↓

Out-of-Scope: ./programs/test-service/Cargo.toml, ./programs/test-service/Xargo.toml, ./programs/test-service/src/instructions/slippy/mod.rs, ./programs/test-service/src/instructions/mod.rs, ./programs/test-service/src/instructions/if_not_initialized.rs, ./programs/test-service/src/instructions/tokens/token_update_pyth_price.rs, ./programs/test-service/src/instructions/tokens/token_register.rs, ./programs/test-service/src/instructions/tokens/token_create.rs, ./programs/test-service/src/instructions/tokens/mod.rs, ./programs/test-service/src/instructions/tokens/token_init_native.rs, ./programs/test-service/src/instructions/tokens/token_request.rs, ./programs/test-service/src/util.rs, ./programs/test-service/src/error.rs, ./programs/test-service/src/lib.rs, ./programs/test-service/src/state/tokens.rs, ./programs/test-service/src/state/mod.rs, ./programs/test-service/src/state/slippy.rs, ./programs/turbo.json, ./programs/package.json, ./libraries/rust/tools/Cargo.toml, ./libraries/rust/tools/src/lookup_tables.rs, ./libraries/rust/tools/src/lib.rs, ./libraries/rust/solana-client/Cargo.toml, ./libraries/rust/solana-client/src/lookup_tables.rs, ./libraries/rust/solana-client/src/transaction.rs, ./libraries/rust/solana-client/src/util/pubkey.rs, ./libraries/rust/solana-client/src/util/mod.rs, ./libraries/rust/solana-client/src/util/data.rs, ./libraries/rust/solana-client/src/util/keypair.rs, ./libraries/rust/solana-client/src/lib.rs, ./libraries/rust/solana-client/src/signature.rs, ./libraries/rust/solana-client/src/rpc/native.rs, ./libraries/rust/solana-client/src/network.rs, ./libraries/rust/solana-client/src/rpc.rs, ./libraries/rust/client-web/Cargo.toml, ./libraries/rust/client-web/src/margin.rs, ./libraries/rust/client-web/src/solana_web3.rs, ./libraries/rust/client-web/src/error.rs, ./libraries/rust/client-web/src/lib.rs, ./libraries/rust/client-web/src/margin_pool.rs, ./libraries/rust/client-web/src/wallet.rs, ./libraries/rust/simulation/Cargo.toml, ./libraries/rust/simulation/src/runtime.rs, ./libraries/rust/simulation/src/lib.rs, ./libraries/rust/simulation/src/solana_rpc_api.rs, ./libraries/rust/testing/Cargo.toml, ./libraries/rust/testing/src/lib.rs, ./libraries/rust/environment/Cargo.toml, ./libraries/rust/environment/src/lookup_tables.rs, ./libraries/rust/environment/src/config.rs, ./libraries/rust/environment/src/lib.rs, ./libraries/rust/environment/src/builder/margin.rs, ./libraries/rust/environment/src/builder/global.rs, ./libraries/rust/environment/src/builder/margin_pool.rs, ./libraries/rust/environment/src/client_config.rs, ./libraries/rust/environment/src/builder.rs, ./libraries/rust/margin/Cargo.toml, ./libraries/rust/margin/src/margin_account_ext.rs, ./libraries/rust/margin/src/ix_builder.rs, ./libraries/rust/margin/src/lookup_tables.rs, ./libraries/rust/margin/src/tokens.rs, ./libraries/rust/margin/src/util/queue_processor.rs, ./libraries/rust/margin/src/util/asynchronous.rs, ./libraries/rust/margin/src/util/no_dupe_queue.rs, ./libraries/rust/margin/src/util/mod.rs, ./libraries/rust/margin/src/refresh/position_refresher.rs, ./libraries/rust/margin/src/refresh/deposit.rs, ./libraries/rust/margin/src/refresh/mod.rs, ./libraries/rust/margin/src/refresh/pool.rs, ./libraries/rust/margin/src/lib.rs, ./libraries/rust/margin/src/test_service.rs, ./libraries/rust/margin/src/solana/transaction.rs, ./libraries/rust/margin/src/solana/mod.rs, ./libraries/rust/margin/src/tx_builder/airspace.rs, ./libraries/rust/margin/src/tx_builder/invoke_pool.rs, ./libraries/rust/margin/src/tx_builder/user.rs, ./libraries/rust/margin/src/tx_builder/invoke_context.rs, ./libraries/rust/margin/src/tx_builder/mod.rs, ./libraries/rust/margin/src/get_state/rpc_query.rs, ./libraries/rust/margin/src/get_state/margin_state.rs, ./libraries/rust/margin/src/get_state/mod.rs, ./libraries/rust/margin/src/margin_integrator.rs, ./libraries/rust/static-program-registry/Cargo.toml, ./libraries/rust/static-program-registry/src/lib.rs, ./libraries/rust/client/Cargo.toml, ./libraries/rust/client/src/margin.rs, ./libraries/rust/client/src/client.rs, ./libraries/rust/client/src/config.rs, ./libraries/rust/client/src/lib.rs, ./libraries/rust/client/src/test_service.rs, ./libraries/rust/client/src/margin_pool.rs, ./libraries/rust/client/src/state/lookup_tables.rs, ./libraries/rust/client/src/state/margin.rs, ./libraries/rust/client/src/state/tokens.rs, ./libraries/rust/client/src/state/oracles.rs, ./libraries/rust/client/src/state/margin_pool.rs, ./libraries/rust/client/src/wallet.rs, ./libraries/rust/client/src/state.rs, ./libraries/rust/client/src/fixed_term/util.rs, third party dependencies and economic attacks.

(a) Repository: glow-v1

(b) Assessed Commit ID: https://github.com/Blueprint-Finance/glow-v1/pull/1218

./programs/margin-pool/Cargo.toml
./programs/margin-pool/Xargo.toml
./programs/margin-pool/src/instructions/margin_refresh_position.rs
./programs/margin-pool/src/instructions/close_loan.rs
./programs/margin-pool/src/instructions/configure.rs
./programs/margin-pool/src/instructions/withdraw.rs
./programs/margin-pool/src/instructions/repay.rs
./programs/margin-pool/src/instructions/margin_borrow_v2.rs
./programs/margin-pool/src/instructions/deposit.rs
./programs/margin-pool/src/instructions/admin/mod.rs
./programs/margin-pool/src/instructions/admin/admin_transfer_loan.rs
./programs/margin-pool/src/instructions/collect.rs
./programs/margin-pool/src/instructions/margin_repay.rs
./programs/margin-pool/src/instructions/create_pool.rs
./programs/margin-pool/src/instructions/margin_borrow.rs
./programs/margin-pool/src/instructions/register_loan.rs
./programs/margin-pool/src/instructions/withdraw_fees.rs
./programs/margin-pool/src/instructions.rs
./programs/margin-pool/src/events.rs
./programs/margin-pool/src/util.rs
./programs/margin-pool/src/lib.rs
./programs/margin-pool/src/state.rs
./programs/airspace/Cargo.toml
./programs/airspace/Xargo.toml
./programs/airspace/src/instructions/airspace_permit_revoke.rs
./programs/airspace/src/instructions/airspace_permit_issuer_revoke.rs
./programs/airspace/src/instructions/airspace_set_authority.rs
./programs/airspace/src/instructions/airspace_create.rs
./programs/airspace/src/instructions/create_governor_id.rs
./programs/airspace/src/instructions/set_governor.rs
./programs/airspace/src/instructions/mod.rs
./programs/airspace/src/instructions/airspace_permit_issuer_create.rs
./programs/airspace/src/instructions/airspace_permit_create.rs
./programs/airspace/src/events.rs
./programs/airspace/src/lib.rs
./programs/airspace/src/state.rs
./programs/margin/Cargo.toml
./programs/margin/Xargo.toml
./programs/margin/src/instructions/accounting_invoke.rs
./programs/margin/src/instructions/configure/configure_account_airspace.rs
./programs/margin/src/instructions/configure/configure_adapter.rs
./programs/margin/src/instructions/configure/mod.rs
./programs/margin/src/instructions/configure/configure_permit.rs
./programs/margin/src/instructions/configure/configure_token.rs
./programs/margin/src/instructions/register_position.rs
./programs/margin/src/instructions/verify_healthy.rs
./programs/margin/src/instructions/admin/admin_transfer_position.rs
./programs/margin/src/instructions/admin/mod.rs
./programs/margin/src/instructions/adapter_invoke.rs
./programs/margin/src/instructions/verify_unhealthy.rs
./programs/margin/src/instructions/close_position.rs
./programs/margin/src/instructions/liquidate_end.rs
./programs/margin/src/instructions/create_account.rs
./programs/margin/src/instructions/update_position_balance.rs
./programs/margin/src/instructions/liquidator_invoke.rs
./programs/margin/src/instructions/liquidate_begin.rs
./programs/margin/src/instructions/positions/refresh_deposit_position.rs
./programs/margin/src/instructions/positions/transfer_deposit.rs
./programs/margin/src/instructions/positions/create_deposit_position.rs
./programs/margin/src/instructions/positions/mod.rs
./programs/margin/src/instructions/positions/refresh_position_config.rs
./programs/margin/src/instructions/lookup_tables/create_lookup_table.rs
./programs/margin/src/instructions/lookup_tables/append_to_lookup.rs
./programs/margin/src/instructions/lookup_tables/mod.rs
./programs/margin/src/instructions/lookup_tables/init_lookup_registry.rs
./programs/margin/src/instructions/close_account.rs
./programs/margin/src/instructions.rs
./programs/margin/src/adapter.rs
./programs/margin/src/events.rs
./programs/margin/src/util.rs
./programs/margin/src/lib.rs
./programs/margin/src/state/config.rs
./programs/margin/src/state/account.rs
./programs/margin/src/state/account/positions.rs
./programs/margin/src/state.rs
./programs/margin/src/seeds.rs
./programs/margin/src/syscall.rs
./programs/metadata/Cargo.toml
./programs/metadata/Xargo.toml
./programs/metadata/src/lib.rs
./Cargo.toml
./Anchor.toml
./libraries/rust/instructions/src/airspace.rs
./libraries/rust/program-proc-macros/Cargo.toml
./libraries/rust/program-proc-macros/src/lib.rs
./libraries/rust/program-proc-macros/src/mem.rs
./libraries/rust/instructions/Cargo.toml
./libraries/rust/instructions/src/margin.rs
./libraries/rust/instructions/src/control.rs
./libraries/rust/instructions/src/lib.rs
./libraries/rust/instructions/src/test_service.rs
./libraries/rust/instructions/src/margin_pool.rs
./libraries/rust/tools/Cargo.toml
./libraries/rust/tools/src/lookup_tables.rs
./libraries/rust/tools/src/lib.rs
./libraries/rust/solana-client/Cargo.toml
./libraries/rust/program-common/Cargo.toml
./libraries/rust/program-common/src/pod.rs
./libraries/rust/program-common/src/number_128.rs
./libraries/rust/program-common/src/fp32.rs
./libraries/rust/program-common/src/number.rs
./libraries/rust/program-common/src/log.rs
./libraries/rust/program-common/src/lib.rs
./libraries/rust/program-common/src/functions.rs
./libraries/rust/program-common/src/serialization.rs
./libraries/rust/program-common/src/interest_pricing.rs
./libraries/rust/program-common/src/traits.rs
./libraries/rust/program-common/src/valuation.rs
libraries/rust/program-common/src/oracle.rs

./programs/margin-pool/Cargo.toml
./programs/margin-pool/Xargo.toml
./programs/margin-pool/src/instructions/margin_refresh_position.rs

↓ Expand ↓

(a) Repository: glow-v1

(b) Assessed Commit ID: https://github.com/Blueprint-Finance/glow-v1/pull/1196

./programs/margin-pool/Cargo.toml
./programs/margin-pool/Xargo.toml
./programs/margin-pool/src/instructions/margin_refresh_position.rs
./programs/margin-pool/src/instructions/close_loan.rs
./programs/margin-pool/src/instructions/configure.rs
./programs/margin-pool/src/instructions/withdraw.rs
./programs/margin-pool/src/instructions/repay.rs
./programs/margin-pool/src/instructions/margin_borrow_v2.rs
./programs/margin-pool/src/instructions/deposit.rs
./programs/margin-pool/src/instructions/admin/mod.rs
./programs/margin-pool/src/instructions/admin/admin_transfer_loan.rs
./programs/margin-pool/src/instructions/collect.rs
./programs/margin-pool/src/instructions/margin_repay.rs
./programs/margin-pool/src/instructions/create_pool.rs
./programs/margin-pool/src/instructions/margin_borrow.rs
./programs/margin-pool/src/instructions/register_loan.rs
./programs/margin-pool/src/instructions/withdraw_fees.rs
./programs/margin-pool/src/instructions.rs
./programs/margin-pool/src/events.rs
./programs/margin-pool/src/util.rs
./programs/margin-pool/src/lib.rs
./programs/margin-pool/src/state.rs
./programs/airspace/Cargo.toml
./programs/airspace/Xargo.toml
./programs/airspace/src/instructions/airspace_permit_revoke.rs
./programs/airspace/src/instructions/airspace_permit_issuer_revoke.rs
./programs/airspace/src/instructions/airspace_set_authority.rs
./programs/airspace/src/instructions/airspace_create.rs
./programs/airspace/src/instructions/create_governor_id.rs
./programs/airspace/src/instructions/set_governor.rs
./programs/airspace/src/instructions/mod.rs
./programs/airspace/src/instructions/airspace_permit_issuer_create.rs
./programs/airspace/src/instructions/airspace_permit_create.rs
./programs/airspace/src/events.rs
./programs/airspace/src/lib.rs
./programs/airspace/src/state.rs
./programs/margin/Cargo.toml
./programs/margin/Xargo.toml
./programs/margin/src/instructions/accounting_invoke.rs
./programs/margin/src/instructions/configure/configure_account_airspace.rs
./programs/margin/src/instructions/configure/configure_adapter.rs
./programs/margin/src/instructions/configure/mod.rs
./programs/margin/src/instructions/configure/configure_permit.rs
./programs/margin/src/instructions/configure/configure_token.rs
./programs/margin/src/instructions/register_position.rs
./programs/margin/src/instructions/verify_healthy.rs
./programs/margin/src/instructions/admin/admin_transfer_position.rs
./programs/margin/src/instructions/admin/mod.rs
./programs/margin/src/instructions/adapter_invoke.rs
./programs/margin/src/instructions/verify_unhealthy.rs
./programs/margin/src/instructions/close_position.rs
./programs/margin/src/instructions/liquidate_end.rs
./programs/margin/src/instructions/create_account.rs
./programs/margin/src/instructions/update_position_balance.rs
./programs/margin/src/instructions/liquidator_invoke.rs
./programs/margin/src/instructions/liquidate_begin.rs
./programs/margin/src/instructions/positions/refresh_deposit_position.rs
./programs/margin/src/instructions/positions/transfer_deposit.rs
./programs/margin/src/instructions/positions/create_deposit_position.rs
./programs/margin/src/instructions/positions/mod.rs
./programs/margin/src/instructions/positions/refresh_position_config.rs
./programs/margin/src/instructions/lookup_tables/create_lookup_table.rs
./programs/margin/src/instructions/lookup_tables/append_to_lookup.rs
./programs/margin/src/instructions/lookup_tables/mod.rs
./programs/margin/src/instructions/lookup_tables/init_lookup_registry.rs
./programs/margin/src/instructions/close_account.rs
./programs/margin/src/instructions.rs
./programs/margin/src/adapter.rs
./programs/margin/src/events.rs
./programs/margin/src/util.rs
./programs/margin/src/lib.rs
./programs/margin/src/state/config.rs
./programs/margin/src/state/account.rs
./programs/margin/src/state/account/positions.rs
./programs/margin/src/state.rs
./programs/margin/src/seeds.rs
./programs/margin/src/syscall.rs
./programs/metadata/Cargo.toml
./programs/metadata/Xargo.toml
./programs/metadata/src/lib.rs
./Cargo.toml
./Anchor.toml
./libraries/rust/instructions/src/airspace.rs
./libraries/rust/program-proc-macros/Cargo.toml
./libraries/rust/program-proc-macros/src/lib.rs
./libraries/rust/program-proc-macros/src/mem.rs
./libraries/rust/instructions/Cargo.toml
./libraries/rust/instructions/src/margin.rs
./libraries/rust/instructions/src/control.rs
./libraries/rust/instructions/src/lib.rs
./libraries/rust/instructions/src/test_service.rs
./libraries/rust/instructions/src/margin_pool.rs
./libraries/rust/tools/Cargo.toml
./libraries/rust/tools/src/lookup_tables.rs
./libraries/rust/tools/src/lib.rs
./libraries/rust/solana-client/Cargo.toml
./libraries/rust/program-common/Cargo.toml
./libraries/rust/program-common/src/pod.rs
./libraries/rust/program-common/src/number_128.rs
./libraries/rust/program-common/src/fp32.rs
./libraries/rust/program-common/src/number.rs
./libraries/rust/program-common/src/log.rs
./libraries/rust/program-common/src/lib.rs
./libraries/rust/program-common/src/functions.rs
./libraries/rust/program-common/src/serialization.rs
./libraries/rust/program-common/src/interest_pricing.rs
./libraries/rust/program-common/src/traits.rs
./libraries/rust/program-common/src/valuation.rs

./programs/margin-pool/Cargo.toml
./programs/margin-pool/Xargo.toml
./programs/margin-pool/src/instructions/margin_refresh_position.rs

↓ Expand ↓

(a) Repository: lookup-table-registry

(b) Assessed Commit ID: 923f5a3

./programs/lookup-table-registry/Cargo.toml
./programs/lookup-table-registry/Xargo.toml
./programs/lookup-table-registry/src/lib.rs

↓ Expand ↓

Out-of-Scope: ./rust-toolchain, ./LICENSE, ./Dockerfile, ./tests/lookup-table-registry.ts, ./Cargo.lock, ./libraries/rust/Cargo.toml, ./libraries/rust/src/instructions.rs, ./libraries/rust/src/lib.rs, ./libraries/rust/src/writer.rs, ./libraries/rust/src/reader.rs, ./libraries/rust/src/common.rs, ./libraries/solana-address-lookup-table-program-gateway/Cargo.toml, ./libraries/solana-address-lookup-table-program-gateway/src/lib.rs, ./libraries/solana-address-lookup-table-program-gateway/src/stub/state.rs, ./libraries/solana-address-lookup-table-program-gateway/src/stub/instruction.rs, ./server/Cargo.toml, ./server/src/main.rs, ./.prettierignore, ./README.md, ./test-validator, ./.env.template, ./yarn.lock, ./.dockerignore, ./.gitignore, ./package.json, ./.github/workflows/build.yaml, ./tsconfig.json, third party dependencies and economic attacks.

Out-of-Scope: New features/implementations after the remediation commit IDs.

7. Assessment Summary & Findings Overview

Critical

High

Medium

Low

Informational

Security analysis	Risk level	Remediation Date
Registry account can be closed by an arbitrary user	Medium	Solved - 02/18/2025
Two step authority transfer not implemented	Low	Solved - 02/24/2025
Realloc re-initialization wastes compute units	Low	Solved - 02/20/2025
Missing mint extensions validation	Low	Partially Solved - 03/13/2025
Airspace authorities can manipulate arbitrary metadata accounts	Low	Solved - 03/09/2025
Administrator can transfer positions to another user	Low	Acknowledged - 03/04/2025
Unverified program parameters leading to misconfiguration risks	Low	Solved - 03/09/2025
Liquidators may leave liquidated accounts unhealthy	Low	Solved - 03/15/2025
Permit revocation of a revoked regulator cannot be done by anyone as intended	Informational	Solved - 01/22/2025
Fee owner cannot withraw fees	Informational	Solved - 03/02/2025
Risk of undefined behavior due to stack overflow	Informational	Solved - 02/19/2025
PermitIssuerRevoke helper function uses incorrect instruction data	Informational	Solved - 02/27/2025
Unnecessary unsafe code	Informational	Solved - 02/27/2025
Unused TokenConfig fields result in incorrect token standard determination	Informational	Solved - 12/19/2024
Risk of incorrect interest rate calculation	Informational	Solved - 02/27/2025
Risk of unhandled panics	Informational	Solved - 03/03/2025

8. Findings & Tech Details

8.1 Registry account can be closed by an arbitrary user

Medium

Description

1. Undefined
2. Introduction
3. Assessment summary
4. Test approach and methodology
5. Risk methodology
6. Scope
7. Assessment summary & findings overview
8. Findings & Tech Details

8.1 Registry account can be closed by an arbitrary user
8.2 Two step authority transfer not implemented
8.3 Realloc re-initialization wastes compute units
8.4 Missing mint extensions validation
8.5 Airspace authorities can manipulate arbitrary metadata accounts
8.6 Administrator can transfer positions to another user
8.7 Unverified program parameters leading to misconfiguration risks
8.8 Liquidators may leave liquidated accounts unhealthy
8.9 Permit revocation of a revoked regulator cannot be done by anyone as intended
8.10 Fee owner cannot withraw fees
8.11 Risk of undefined behavior due to stack overflow
8.12 Permitissuerrevoke helper function uses incorrect instruction data
8.13 Unnecessary unsafe code
8.14 Unused tokenconfig fields result in incorrect token standard determination
8.15 Risk of incorrect interest rate calculation
8.16 Risk of unhandled panics