Ecosystem - Colend Protocol - Coredao

1. Introduction

The CoreDAO team engaged Halborn to conduct a security assessment on their smart contracts beginning on 04/15/2024 and ending on 04/30/2024. The security assessment was scoped to the smart contracts provided in the GitHub repository. Commit hashes and further details can be found in the Scope section of this report.

2. Assessment Summary

Halborn was provided 3 weeks for the engagement and assigned 1 full-time security engineer to review the security of the smart contracts in scope. The engineer is a blockchain and smart contract security experts with advanced penetration testing and smart contract hacking skills, and deep knowledge of multiple blockchain protocols.

The purpose of the assessment is to:

• Identify potential security issues within the smart contracts.

• Ensure that smart contract functionality operates as intended.

In summary, Halborn identified some security that were acknowledged by the Colend Team.

3. Test Approach and Methodology

Halborn performed a combination of manual and automated security testing to balance efficiency, timeliness, practicality, and accuracy in regard to the scope of this assessment. While manual testing is recommended to uncover flaws in logic, process, and implementation; automated testing techniques help enhance coverage of the code and can quickly identify items that do not follow the security best practices. The following phases and associated tools were used during the assessment:

• Research into architecture and purpose.

• Smart contract manual code review and walkthrough.

• Graphing out functionality and contract logic/connectivity/functions (solgraph).

• Manual assessment of use and safety for the critical Solidity variables and functions in scope to identify any arithmetic related vulnerability classes.

• Manual testing by custom scripts.

• Static Analysis of security for scoped contracts, and imported functions (slither).

• Testnet deployment (Foundry).