Yield Fi yUSD Rate Providers #252
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| # Rate Provider: ERC4626RateProvider | ||
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| ## Details | ||
| - Reviewed by: @brunoguerios | ||
| - Checked by: @mkflow27 | ||
| - Deployed at: | ||
| - [ethereum:0xa65ffBa1CD05414df3fD24Bf5dc319B47450Fbf4](https://etherscan.io/address/0xa65ffBa1CD05414df3fD24Bf5dc319B47450Fbf4) | ||
| - Audit report(s): | ||
| - [Protocol Audits](https://docs.yield.fi/resources/audits) | ||
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| ## Context | ||
| This rate provider works with a standard approach of `totalAssets/totalSupply`. | ||
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| ## Review Checklist: Bare Minimum Compatibility | ||
| Each of the items below represents an absolute requirement for the Rate Provider. If any of these is unchecked, the Rate Provider is unfit to use. | ||
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| - [x] Implements the [`IRateProvider`](https://github.com/balancer/balancer-v2-monorepo/blob/bc3b3fee6e13e01d2efe610ed8118fdb74dfc1f2/pkg/interfaces/contracts/pool-utils/IRateProvider.sol) interface. | ||
| - [x] `getRate` returns an 18-decimal fixed point number (i.e., 1 == 1e18) regardless of underlying token decimals. | ||
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| ## Review Checklist: Common Findings | ||
| Each of the items below represents a common red flag found in Rate Provider contracts. | ||
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| If none of these is checked, then this might be a pretty great Rate Provider! If any of these is checked, we must thoroughly elaborate on the conditions that lead to the potential issue. Decision points are not binary; a Rate Provider can be usable despite these boxes being checked. A check simply indicates that thorough vetting is required in a specific area, and this vetting should be used to inform a holistic analysis of the Rate Provider. | ||
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| ### Administrative Privileges | ||
| - [ ] The Rate Provider is upgradeable (e.g., via a proxy architecture or an `onlyOwner` function that updates the price source address). | ||
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| - [x] Some other portion of the price pipeline is upgradeable (e.g., the token itself, an oracle, or some piece of a larger system that tracks the price). | ||
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| - upgradeable component: `YToken` ([ethereum:0x1CE7D9942ff78c328A4181b9F3826fEE6D845A97](https://etherscan.io/address/0x1CE7D9942ff78c328A4181b9F3826fEE6D845A97#code)) | ||
| - admin address: [ethereum:0x7c2c44a988E0B74bcaE644fC8cD1200fcF727001](https://etherscan.io/address/0x7c2c44a988E0B74bcaE644fC8cD1200fcF727001) | ||
| - multisig threshold/signers: 2/4 | ||
| --- | ||
| - upgradeable component: `Administrator` ([ethereum:0x9305a0cc13293b69deE0B9d281D21144b029BdFf](https://etherscan.io/address/0x9305a0cc13293b69deE0B9d281D21144b029BdFf#code)) | ||
| - admin address: [ethereum:0x7c2c44a988E0B74bcaE644fC8cD1200fcF727001](https://etherscan.io/address/0x7c2c44a988E0B74bcaE644fC8cD1200fcF727001) | ||
| - multisig threshold/signers: 2/4 | ||
| --- | ||
| - upgradeable component: `Yield` ([ethereum:0xf4eF3ba63593dfD0967577B2bb3C9ba51D78427b](https://etherscan.io/address/0xf4eF3ba63593dfD0967577B2bb3C9ba51D78427b#code)) | ||
| - admin address: [ethereum:0x7c2c44a988E0B74bcaE644fC8cD1200fcF727001](https://etherscan.io/address/0x7c2c44a988E0B74bcaE644fC8cD1200fcF727001) | ||
| - multisig threshold/signers: 2/4 | ||
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| ### Oracles | ||
| - [ ] Price data is provided by an off-chain source (e.g., a Chainlink oracle, a multisig, or a network of nodes). | ||
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| - [ ] Price data is expected to be volatile (e.g., because it represents an open market price instead of a (mostly) monotonically increasing price). | ||
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| ### Common Manipulation Vectors | ||
| - [ ] The Rate Provider is susceptible to donation attacks. | ||
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| ## Additional Findings | ||
| To save time, we do not bother pointing out low-severity/informational issues or gas optimizations (unless the gas usage is particularly egregious). Instead, we focus only on high- and medium-severity findings which materially impact the contract's functionality and could harm users. | ||
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| No additional findings. | ||
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| ## Conclusion | ||
| **Summary judgment: USABLE** | ||
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| Rate provider is a standard ERC4626RateProvider that relies on totalAssets/totalSupply. All other contracts in the pipeline that are upgradeable and can directly influence the rate are managed by multisigs. |
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| Original file line number | Diff line number | Diff line change |
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| @@ -0,0 +1,52 @@ | ||
| # Rate Provider: `ChainlinkRateProvider` | ||
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| ## Details | ||
| - Reviewed by: @brunoguerios | ||
| - Checked by: @mkflow27 | ||
| - Deployed at: | ||
| - [arbitrum:0xb1D5c23DbfCb36864f32bc704AE4205BB9720C33](https://arbiscan.io/address/0xb1D5c23DbfCb36864f32bc704AE4205BB9720C33) | ||
| - Audit report(s): | ||
| - [Protocol Audits](https://docs.yield.fi/resources/audits) | ||
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| ## Context | ||
| This RateProvider is updated via the API3 product. It reports the exchangeRate of yUSD/USD on mainnet. It is read on mainnet and available as an Oracle on arbitrum. | ||
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| ## Review Checklist: Bare Minimum Compatibility | ||
| Each of the items below represents an absolute requirement for the Rate Provider. If any of these is unchecked, the Rate Provider is unfit to use. | ||
|
|
||
| - [x] Implements the [`IRateProvider`](https://github.com/balancer/balancer-v2-monorepo/blob/bc3b3fee6e13e01d2efe610ed8118fdb74dfc1f2/pkg/interfaces/contracts/pool-utils/IRateProvider.sol) interface. | ||
| - [x] `getRate` returns an 18-decimal fixed point number (i.e., 1 == 1e18) regardless of underlying token decimals. | ||
|
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| ## Review Checklist: Common Findings | ||
| Each of the items below represents a common red flag found in Rate Provider contracts. | ||
|
|
||
| If none of these is checked, then this might be a pretty great Rate Provider! If any of these is checked, we must thoroughly elaborate on the conditions that lead to the potential issue. Decision points are not binary; a Rate Provider can be usable despite these boxes being checked. A check simply indicates that thorough vetting is required in a specific area, and this vetting should be used to inform a holistic analysis of the Rate Provider. | ||
|
|
||
| ### Administrative Privileges | ||
| - [ ] The Rate Provider is upgradeable (e.g., via a proxy architecture or an `onlyOwner` function that updates the price source address). | ||
|
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||
| - [x] Some other portion of the price pipeline is upgradeable (e.g., the token itself, an oracle, or some piece of a larger system that tracks the price). | ||
| - upgradeable component: `Api3ReaderProxyV1` ([arbitrum:0xE88DA976479461080072D6461128fd401B6D4Dcb](https://arbiscan.io/address/0xE88DA976479461080072D6461128fd401B6D4Dcb#readProxyContract)) | ||
| - admin address: [arbitrum:0x2AAE699ed04BBbD068f67a5b3C813eBB35f2c9E8](https://arbiscan.io/address/0x2AAE699ed04BBbD068f67a5b3C813eBB35f2c9E8) | ||
| - admin type: multisig | ||
| - multisig threshold/signers: 4/8 | ||
| - multisig timelock? NO | ||
|
There was a problem hiding this comment. I couldn't find timelocks in the implementation, but if it's too relevant, it would be nice if you could double check. There was a problem hiding this comment. Not every system has them. They are helpful for the reader to have but not a requirement. |
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| ### Oracles | ||
| - [x] Price data is provided by an off-chain source (e.g., a Chainlink oracle, a multisig, or a network of nodes). | ||
| - source: API3. | ||
| - source address: The data is sourced from multiple so called "beacons" which are a set of nodes which provide the rate data to be aggregated by the `Api3ServerV1` [base:0x709944a48cAf83535e43471680fDA4905FB3920a](https://arbiscan.io/address/0x709944a48cAf83535e43471680fDA4905FB3920a) | ||
| - any protections? The rate is calculated as the median of all the rate data "fetched" from beacons. For more information about more protections see [api3 docs](https://docs.api3.org/reference/dapis/understand/deviations.html) and consult the `updateBeaconSetWithBeacons` & `updateOevProxyDataFeedWithSignedData` functions. | ||
|
There was a problem hiding this comment. Same here about not fully grasping API3 and replicating ezETH findings. Please confirm 🙏 There was a problem hiding this comment. Fine to leave it like this. |
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| - [ ] Price data is expected to be volatile (e.g., because it represents an open market price instead of a (mostly) monotonically increasing price). | ||
|
|
||
| ### Common Manipulation Vectors | ||
| - [ ] The Rate Provider is susceptible to donation attacks. | ||
|
|
||
| ## Additional Findings | ||
| To save time, we do not bother pointing out low-severity/informational issues or gas optimizations (unless the gas usage is particularly egregious). Instead, we focus only on high- and medium-severity findings which materially impact the contract's functionality and could harm users. | ||
|
|
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| ## Conclusion | ||
| **Summary judgment: USABLE** | ||
|
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| This rate provider should work well with Balancer pools. API3 updates the rate on arbitrum regularly and has various protections in place to ensure the correct values are bridged accurately. | ||
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| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -0,0 +1,52 @@ | ||
| # Rate Provider: `ChainlinkRateProvider` | ||
|
|
||
| ## Details | ||
| - Reviewed by: @brunoguerios | ||
| - Checked by: @mkflow27 | ||
| - Deployed at: | ||
| - [base:0xD47c15CDD7c734db321F07CB9AB1f852aE9A0b83](https://basescan.org/address/0xD47c15CDD7c734db321F07CB9AB1f852aE9A0b83) | ||
| - Audit report(s): | ||
| - [Protocol Audits](https://docs.yield.fi/resources/audits) | ||
|
|
||
| ## Context | ||
| This RateProvider is updated via the API3 product. It reports the exchangeRate of yUSD/USD on mainnet. It is read on mainnet and available as an Oracle on base. | ||
|
|
||
| ## Review Checklist: Bare Minimum Compatibility | ||
| Each of the items below represents an absolute requirement for the Rate Provider. If any of these is unchecked, the Rate Provider is unfit to use. | ||
|
|
||
| - [x] Implements the [`IRateProvider`](https://github.com/balancer/balancer-v2-monorepo/blob/bc3b3fee6e13e01d2efe610ed8118fdb74dfc1f2/pkg/interfaces/contracts/pool-utils/IRateProvider.sol) interface. | ||
| - [x] `getRate` returns an 18-decimal fixed point number (i.e., 1 == 1e18) regardless of underlying token decimals. | ||
|
|
||
| ## Review Checklist: Common Findings | ||
| Each of the items below represents a common red flag found in Rate Provider contracts. | ||
|
|
||
| If none of these is checked, then this might be a pretty great Rate Provider! If any of these is checked, we must thoroughly elaborate on the conditions that lead to the potential issue. Decision points are not binary; a Rate Provider can be usable despite these boxes being checked. A check simply indicates that thorough vetting is required in a specific area, and this vetting should be used to inform a holistic analysis of the Rate Provider. | ||
|
|
||
| ### Administrative Privileges | ||
| - [ ] The Rate Provider is upgradeable (e.g., via a proxy architecture or an `onlyOwner` function that updates the price source address). | ||
|
|
||
| - [x] Some other portion of the price pipeline is upgradeable (e.g., the token itself, an oracle, or some piece of a larger system that tracks the price). | ||
| - upgradeable component: `Api3ReaderProxyV1` ([base:0xE88DA976479461080072D6461128fd401B6D4Dcb](https://basescan.org/address/0xE88DA976479461080072D6461128fd401B6D4Dcb#code)) | ||
| - admin address: [base:0x2AAE699ed04BBbD068f67a5b3C813eBB35f2c9E8](https://basescan.org/address/0x2AAE699ed04BBbD068f67a5b3C813eBB35f2c9E8) | ||
| - admin type: multisig | ||
| - multisig threshold/signers: 4/8 | ||
| - multisig timelock? NO | ||
|
|
||
| ### Oracles | ||
| - [x] Price data is provided by an off-chain source (e.g., a Chainlink oracle, a multisig, or a network of nodes). | ||
| - source: API3. | ||
| - source address: The data is sourced from multiple so called "beacons" which are a set of nodes which provide the rate data to be aggregated by the `Api3ServerV1` [base:0x709944a48cAf83535e43471680fDA4905FB3920a](https://basescan.org/address/0x709944a48cAf83535e43471680fDA4905FB3920a#code) | ||
| - any protections? The rate is calculated as the median of all the rate data "fetched" from beacons. For more information about more protections see [api3 docs](https://docs.api3.org/reference/dapis/understand/deviations.html) and consult the `updateBeaconSetWithBeacons` & `updateOevProxyDataFeedWithSignedData` functions. | ||
|
|
||
| - [ ] Price data is expected to be volatile (e.g., because it represents an open market price instead of a (mostly) monotonically increasing price). | ||
|
|
||
| ### Common Manipulation Vectors | ||
| - [ ] The Rate Provider is susceptible to donation attacks. | ||
|
|
||
| ## Additional Findings | ||
| To save time, we do not bother pointing out low-severity/informational issues or gas optimizations (unless the gas usage is particularly egregious). Instead, we focus only on high- and medium-severity findings which materially impact the contract's functionality and could harm users. | ||
|
|
||
| ## Conclusion | ||
| **Summary judgment: USABLE** | ||
|
|
||
| This rate provider should work well with Balancer pools. API3 updates the rate on base regularly and has various protections in place to ensure the correct values are bridged accurately. |
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I must say I'm not able to fully grasp this API3 data source, but I'm assuming it's a standard and I replicated the findings registered on the ezETH rate provider review.
Can you guys please confirm this is indeed the case?
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Hey Bruno. Gerally speaking whenever we first took a look at a new oracle rate provider, they were reviewed as part of the review. After that if the rate is a "direct" result of a oracle price provider, we have marked it as usable. This includes oracle such as:
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In cases like this, you can refer to the review already being done at review