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0.7
Gravity Finance Process Quality Review
Score: 72%

Overview

This is a Gravity Finance Process Quality Review completed on August 31st 2021. It was performed using the Process Review process (version 0.7.3) and is documented here. The review was performed by Nic of DeFiSafety. Check out our Telegram.
The final score of the review is 72%, a PASS. The breakdown of the scoring is in Scoring Appendix. For our purposes, a pass is 70%.

Summary of the Process

Very simply, the review looks for the following declarations from the developer's site. With these declarations, it is reasonable to trust the smart contracts.
  • Here are my smart contracts on the blockchain
  • Here is the documentation that explains what my smart contracts do
  • Here are the tests I ran to verify my smart contract
  • Here are the audit(s) performed on my code by third party experts
  • Here are the admin controls and strategies

Disclaimer

This report is for informational purposes only and does not constitute investment advice of any kind, nor does it constitute an offer to provide investment advisory or other services. Nothing in this report shall be considered a solicitation or offer to buy or sell any security, token, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this report constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this report should not be taken as advice to buy, sell or hold any security. The information in this report should not be relied upon for the purpose of investing. In preparing the information contained in this report, we have not taken into account the investment needs, objectives and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors.
Any views expressed in this report by us were prepared based upon the information available to us at the time such views were written. The views expressed within this report are limited to DeFiSafety and the author and do not reflect those of any additional or third party and are strictly based upon DeFiSafety, its authors, interpretations and evaluation of relevant data. Changed or additional information could cause such views to change. All information is subject to possible correction. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
This completed report is copyright (c) DeFiSafety 2021. Permission is given to copy in whole, retaining this copyright label.

Chain

This section indicates the blockchain used by this protocol.
Chain: Polygon
Guidance: Ethereum Binance Smart Chain Polygon Avalanche Terra

Code and Team

This section looks at the code deployed on the Mainnet that gets reviewed and its corresponding software repository. The document explaining these questions is here. This review will answer the following questions:
1) Are the executing code addresses readily available? (%) 2) Is the code actively being used? (%) 3) Is there a public software repository? (Y/N) 4) Is there a development history visible? (%) 5) Is the team public (not anonymous)? (Y/N)

1) Are the executing code addresses readily available? (%)

Answer: 100%
They are available at website https://inthenextversion.gitbook.io/gravity-finance/smart-contracts, as indicated in the Appendix.
Guidance: 100% Clearly labelled and on website, docs or repo, quick to find 70% Clearly labelled and on website, docs or repo but takes a bit of looking 40% Addresses in mainnet.json, in discord or sub graph, etc 20% Address found but labeling not clear or easy to find 0% Executing addresses could not be found

2) Is the code actively being used? (%)

Answer: 100%
Activity is over 10 transactions a day on contract TransparentUpgradeableProxy.sol (Governance Contracts), as indicated in the Appendix.

Guidance:

100% More than 10 transactions a day 70% More than 10 transactions a week 40% More than 10 transactions a month 10% Less than 10 transactions a month 0% No activity

3) Is there a public software repository? (Y/N)

Answer: Yes
Is there a public software repository with the code at a minimum, but also normally test and scripts. Even if the repository was created just to hold the files and has just 1 transaction, it gets a "Yes". For teams with private repositories, this answer is "No".

4) Is there a development history visible? (%)

Answer: 0%
With 6 commits and 1 branch, this is a very underdeveloped software repository.
This metric checks if the software repository demonstrates a strong steady history. This is normally demonstrated by commits, branches and releases in a software repository. A healthy history demonstrates a history of more than a month (at a minimum).
Guidance: 100% Any one of 100+ commits, 10+branches 70% Any one of 70+ commits, 7+branches 50% Any one of 50+ commits, 5+branches 30% Any one of 30+ commits, 3+branches 0% Less than 2 branches or less than 30 commits

How to improve this score:

Continue to test and perform other verification activities after deployment, including routine maintenance updating to new releases of testing and deployment tools. A public development history indicates clearly to the public the level of continued investment and activity by the developers on the application. This gives a level of security and faith in the application.

5) Is the team public (not anonymous)? (Y/N)

Answer: No
For a "Yes" in this question, the real names of some team members must be public on the website or other documentation (LinkedIn, etc). If the team is anonymous, then this question is a "No".

Documentation

This section looks at the software documentation. The document explaining these questions is here.
Required questions are;
6) Is there a whitepaper? (Y/N) 7) Are the basic software functions documented? (Y/N) 8) Does the software function documentation fully (100%) cover the deployed contracts? (%) 9) Are there sufficiently detailed comments for all functions within the deployed contract code (%) 10) Is it possible to trace from software documentation to the implementation in code (%)

6) Is there a whitepaper? (Y/N)

Answer: Yes

7) Are the basic software functions documented? (Y/N)

Answer: Yes

8) Does the software function documentation fully (100%) cover the deployed contracts? (%)

Answer: 100%
All of the Gravity Finance software functions and contracts are documented at https://github.com/inthenextversion/audit-gravity-ctdsec-v1-core/blob/main/Gravity%20Finance%20Code%20Brief.pdf.
Guidance:
100% All contracts and functions documented 80% Only the major functions documented 79-1% Estimate of the level of software documentation 0% No software documentation

9) Are there sufficiently detailed comments for all functions within the deployed contract code (%)

Answer: 29%
Code examples are in the Appendix. As per the SLOC, there is 29% commenting to code (CtC).
The Comments to Code (CtC) ratio is the primary metric for this score.
Guidance: 100% CtC > 100 Useful comments consistently on all code 90-70% CtC > 70 Useful comment on most code 60-20% CtC > 20 Some useful commenting 0% CtC < 20 No useful commenting

How to improve this score

This score can improve by adding comments to the deployed code such that it comprehensively covers the code. For guidance, refer to the SecurEth Software Requirements.

10) Is it possible to trace from software documentation to the implementation in code (%)

Answer: 40%
The Gravity Finance documentation lists and describes all of their functions without providing traceability as to their implementations in the source code.
Guidance: 100% Clear explicit traceability between code and documentation at a requirement level for all code 60% Clear association between code and documents via non explicit traceability 40% Documentation lists all the functions and describes their functions 0% No connection between documentation and code

How to improve this score:

This score can improve by adding traceability from documentation to code such that it is clear where each outlined function is coded in the source code. For reference, check the SecurEth guidelines on traceability.

Testing

This section looks at the software testing available. It is explained in this document. This section answers the following questions;
11) Full test suite (Covers all the deployed code) (%) 12) Code coverage (Covers all the deployed lines of code, or explains misses) (%) 13) Scripts and instructions to run the tests (Y/N) 14) Report of the results (%) 15) Formal Verification test done (%) 16) Stress Testing environment (%)

11) Is there a Full test suite? (%)

Answer: 80%
Code examples are in the Appendix. As per the SLOC, there is 107% testing to code (TtC).
The Test to Code (TtC) ratio is the primary metric for this score.
Guidance: 100% TtC > 120% Both unit and system test visible 80% TtC > 80% Both unit and system test visible 40% TtC < 80% Some tests visible 0% No tests obvious

How to improve this score:

This score can improved by adding tests to fully cover the code. Document what is covered by traceability or test results in the software repository.

12) Code coverage (Covers all the deployed lines of code, or explains misses) (%)

Answer: 50%
There is no evidence of any Gravity Finance code coverage. However, they do have a reasonably complete set of tests.
Guidance: 100% Documented full coverage 99-51% Value of test coverage from documented results 50% No indication of code coverage but clearly there is a reasonably complete set of tests 30% Some tests evident but not complete 0% No test for coverage seen

How to improve this score:

This score can improved by adding tests that achieve full code coverage. A clear report and scripts in the software repository will guarantee a high score.

13) Scripts and instructions to run the tests (Y/N)

Answer: No
There is no test result report to be found in the Gravity Finance GitHub.

How to improve this score:

Add the scripts to the repository and ensure they work. Ask an outsider to create the environment and run the tests. Improve the scripts and docs based on their feedback.

14) Report of the results (%)

Answer: 0%
No test results report was found in any of the Gravity Finance documentation.
Guidance: 100% Detailed test report as described below 70% GitHub code coverage report visible 0% No test report evident

How to improve this score

Add a report with the results. The test scripts should generate the report or elements of it.

15) Formal Verification test done (%)

Answer: 0%
No evidence of a Gravity Finance Formal Verification test was found in any of their documentation.

16) Stress Testing environment (%)

Answer: 0%
No evidence of any Gravity Finance testnet smart contract usage was found in any of their documentation

Security

This section looks at the 3rd party software audits done. It is explained in this document. This section answers the following questions;
17) Did 3rd Party audits take place? (%) 18) Is the bounty value acceptably high?

17) Did 3rd Party audits take place? (%)

Answer: 100%
CTDSec published a Gravity Finance audit report on August 12th, which is after their mainnet launch in May 2021. However, this audit was started before the mainnet launch.
In addition, an Obelisk audit report was published on September 24th 2021. However, this audit had been going on for more than a month previous to their new LP farms' mainnet launch.
Note: Fix recommendations were implemented by the Gravity Finance team.
Guidance: 100% Multiple Audits performed before deployment and results public and implemented or not required 90% Single audit performed before deployment and results public and implemented or not required 70% Audit(s) performed after deployment and no changes required. Audit report is public
50% Audit(s) performed after deployment and changes needed but not implemented 20% No audit performed 0% Audit Performed after deployment, existence is public, report is not public and no improvements deployed OR smart contract address' not found, (where question 1 is 0%)
Deduct 25% if code is in a private repo and no note from auditors that audit is applicable to deployed code

18) Is the bounty value acceptably high (%)

Answer: 70%
Gravity Finance's Bug Bounty program rewards participating users with up to 100k worth of GFI tokens for the most critical of finds.
Guidance:
100% Bounty is 10% TVL or at least $1M AND active program (see below) 90% Bounty is 5% TVL or at least 500k AND active program 80% Bounty is 5% TVL or at least 500k 70% Bounty is 100k or over AND active program 60% Bounty is 100k or over 50% Bounty is 50k or over AND active program 40% Bounty is 50k or over 20% Bug bounty program bounty is less than 50k 0% No bug bounty program offered
An active program means that a third party (such as Immunefi) is actively driving hackers to the site. An inactive program would be static mentions on the docs.

Access Controls

This section covers the documentation of special access controls for a DeFi protocol. The admin access controls are the contracts that allow updating contracts or coefficients in the protocol. Since these contracts can allow the protocol admins to "change the rules", complete disclosure of capabilities is vital for user's transparency. It is explained in this document. The questions this section asks are as follow;
19) Can a user clearly and quickly find the status of the admin controls? 20) Is the information clear and complete? 21) Is the information in non-technical terms that pertain to the investments? 22) Is there Pause Control documentation including records of tests?

19) Can a user clearly and quickly find the status of the access controls (%)

Answer: 100%
Gravity Finance's access controls documentation is clearly labelled and easy to find at https://inthenextversion.gitbook.io/gravity-finance/audits-security/owner-priv-and-time-locks.
Guidance: 100% Clearly labelled and on website, docs or repo, quick to find 70% Clearly labelled and on website, docs or repo but takes a bit of looking 40% Access control docs in multiple places and not well labelled 20% Access control docs in multiple places and not labelled 0% Admin Control information could not be found

20) Is the information clear and complete (%)

Answer: 90%
a) All contracts are clearly labelled as upgradeable (or not) - 30% - Contracts are clearly labelled as being able to be "called", which is a term for saying that it can be upgraded.
b) The type of ownership is clearly indicated (OnlyOwner / MultiSig / Defined Roles) - Defined ownership and permissions of the contracts are listed at https://inthenextversion.gitbook.io/gravity-finance/audits-security/owner-priv-and-time-locks.
Guidance: All the contracts are immutable -- 100% OR
a) All contracts are clearly labelled as upgradeable (or not) -- 30% AND b) The type of ownership is clearly indicated (OnlyOwner / MultiSig / Defined Roles) -- 30% AND c) The capabilities for change in the contracts are described -- 30%

How to improve this score:

Create a document that covers the items described above. An example is enclosed.

21) Is the information in non-technical terms that pertain to the investments (%)

Answer: 90%
Most of the descriptions at https://inthenextversion.gitbook.io/gravity-finance/audits-security/owner-priv-and-time-locks related to how and why their users' funds are safe, and do so in user friendly language.
Guidance: 100% All the contracts are immutable 90% Description relates to investments safety and updates in clear, complete non-software l language 30% Description all in software specific language 0% No admin control information could not be found

How to improve this score:

Create a document that covers the items described above in plain language that investors can understand. An example is enclosed.

22) Is there Pause Control documentation including records of tests (%)

Answer: 40%
Guidance: 100% All the contracts are immutable or no pause control needed and this is explained OR 100% Pause control(s) are clearly documented and there is records of at least one test within 3 months 80% Pause control(s) explained clearly but no evidence of regular tests 40% Pause controls mentioned with no detail on capability or tests 0% Pause control not documented or explained

How to improve this score:

Create a document that covers the items described above in plain language that investors can understand. An example is enclosed.

Appendices

Author Details

The author of this review is Rex of DeFi Safety.
Email : [email protected] Twitter : @defisafety
I started with Ethereum just before the DAO and that was a wonderful education. It showed the importance of code quality. The second Parity hack also showed the importance of good process. Here my aviation background offers some value. Aerospace knows how to make reliable code using quality processes.
I was coaxed to go to EthDenver 2018 and there I started SecuEth.org with Bryant and Roman. We created guidelines on good processes for blockchain code development. We got EthFoundation funding to assist in their development.
Process Quality Reviews are an extension of the SecurEth guidelines that will further increase the quality processes in Solidity and Vyper development.
DeFiSafety is my full time gig and we are working on funding vehicles for a permanent staff.

Scoring Appendix

Executing Code Appendix

Code Used Appendix

Example Code Appendix

1
contract Governance is Initializable, OwnableUpgradeable {
2
mapping(address => uint256) public feeBalance;
3
address public tokenAddress;
4
struct FeeLedger {
5
uint256 totalFeeCollected_LastClaim;
6
uint256 totalSupply_LastClaim;
7
uint256 userBalance_LastClaim;
8
}
9
mapping(address => FeeLedger) public feeLedger;
10
11
mapping(address => uint[3]) public tierLedger;
12
uint[3] public Tiers;
13
uint256 public totalFeeCollected;
14
iGravityToken GFI;
15
IERC20 WETH;
16
IERC20 WBTC;
17
18
/*
19
* @dev emitted when Fees are deposited into the Governance contract
20
* @param weth the amount of wETH deposited into the governance contract
21
* @param wbtc the amount of wBTC deposited into the governance contract
22
**/
23
event FeeDeposited(uint weth, uint wbtc);
24
25
/*
26
* @dev emitted when a wETH fee is claimed
27
* @param claimer the address that had it's fees claimed
28
* @param recipient the address the fees were sent to
29
* @param amount the amount of wETH sent to the recipient
30
**/
31
event FeeClaimed(address claimer, address recipient, uint amount);
32
33
/**
34
* @dev emitted when GFI is burned for wBTC
35
* @param claimer the address burning GFI for wBTC
36
* @param GFIamount the amount of GFI burned
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* @param WBTCamount the amount of wBTC sent to claimer
38
**/
39
event WbtcClaimed(address claimer, uint GFIamount, uint WBTCamount);
40
41
/**
42
* @dev used to ensure only token contract can call govAuth functions lines 233 -> 268
43
**/
44
modifier onlyToken() {
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require(msg.sender == tokenAddress, "Only the token contract can call this function");
46
_;
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}
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function initialize(
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address GFI_ADDRESS,
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address WETH_ADDRESS,
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address WBTC_ADDRESS
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) public initializer {
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__Ownable_init();
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tokenAddress = GFI_ADDRESS;
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GFI = iGravityToken(GFI_ADDRESS);
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WETH = IERC20(WETH_ADDRESS);
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WBTC = IERC20(WBTC_ADDRESS);
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}
60
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function updateTiers(uint tier3, uint tier2, uint tier1) external onlyOwner{
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require(tier3 > tier2 && tier2 > tier1, 'Gravity Finance: Invalid Tier assignments');
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Tiers[0] = tier1;
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Tiers[1] = tier2;
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Tiers[2] = tier3;
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}
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/**
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* @dev internal function called when token contract calls govAuthTransfer or govAuthTransferFrom
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* Will update the recievers fee balance. This will not change the reward they would have got from this fee update
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* rather it updates the fee ledger to refelct the new increased amount of GFI in their wallet
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* @param _address the address of the address recieving GFI tokens
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* @param amount the amount of tokens the address is recieving
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* @return amount of wETH added to _address fee balance
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**/
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function _updateFeeReceiver(address _address, uint256 amount)
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internal
78
returns (uint256)
79
{
80
uint256 supply;
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uint256 balance;
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//Pick the greatest supply and the lowest user balance
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uint256 currentBalance = GFI.balanceOf(_address) + amount; //Add the amount they are getting transferred eventhough updateFee will use smaller pre transfer value
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if (currentBalance > feeLedger[_address].userBalance_LastClaim) {
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balance = feeLedger[_address].userBalance_LastClaim;
87
} else {
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balance = currentBalance;
89
}
90
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uint256 currentSupply = GFI.totalSupply();
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if (currentSupply < feeLedger[_address].totalSupply_LastClaim) {
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supply = feeLedger[_address].totalSupply_LastClaim;
94
} else {
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supply = currentSupply;
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}
97
98
uint256 feeAllocation =
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((totalFeeCollected -
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feeLedger[_address].totalFeeCollected_LastClaim) * balance) /
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supply;
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feeLedger[_address].totalFeeCollected_LastClaim = totalFeeCollected;
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feeLedger[_address].totalSupply_LastClaim = currentSupply;
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feeLedger[_address].userBalance_LastClaim = currentBalance;
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feeBalance[_address] = feeBalance[_address] + feeAllocation;
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return feeAllocation;
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}
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/**
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* @dev updates the fee ledger info for the specified address
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* This function can be used to update the fee ledger info for any address, and is used to update the fee for the from address in transfer and transferFrom calls
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* @param _address the address you want to update the fee ledger info for
112
* @return the amount of wETH added to _address feeBalance
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**/
114
function updateFee(address _address) public returns (uint256) {
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require(GFI.balanceOf(_address) > 0, "_address has no GFI");
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uint256 supply;
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uint256 balance;
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//Pick the greatest supply and the lowest user balance
120
uint256 currentBalance = GFI.balanceOf(_address);
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if (currentBalance > feeLedger[_address].userBalance_LastClaim) {
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balance = feeLedger[_address].userBalance_LastClaim;
123
} else {
124
balance = currentBalance;
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}
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127
uint256 currentSupply = GFI.totalSupply();
128
if (currentSupply < feeLedger[_address].totalSupply_LastClaim) {
129
supply = feeLedger[_address].totalSupply_LastClaim;
130
} else {
131
supply = currentSupply;
132
}
133
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uint256 feeAllocation =
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((totalFeeCollected -
136
feeLedger[_address].totalFeeCollected_LastClaim) * balance) /
137
supply;
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feeLedger[_address].totalFeeCollected_LastClaim = totalFeeCollected;
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feeLedger[_address].totalSupply_LastClaim = currentSupply;
140
feeLedger[_address].userBalance_LastClaim = currentBalance;
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feeBalance[_address] = feeBalance[_address] + feeAllocation;
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return feeAllocation;
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}
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/**
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* @dev updates callers fee ledger, and pays out any fee owed to caller
147
* @return the amount of wETH sent to caller
148
**/
149
function claimFee() public returns (uint256) {
150
require(GFI.balanceOf(msg.sender) > 0, "User has no GFI");
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uint256 supply;
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uint256 balance;
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//Pick the greatest supply and the lowest user balance
155
uint256 currentBalance = GFI.balanceOf(msg.sender);
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if (currentBalance > feeLedger[msg.sender].userBalance_LastClaim) {
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balance = feeLedger[msg.sender].userBalance_LastClaim;
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} else {
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balance = currentBalance;
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}
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uint256 currentSupply = GFI.totalSupply();
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if (currentSupply < feeLedger[msg.sender].totalSupply_LastClaim) {
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supply = feeLedger[msg.sender].totalSupply_LastClaim;
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} else {
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supply = currentSupply;
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}
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uint256 feeAllocation =
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((totalFeeCollected -
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feeLedger[msg.sender].totalFeeCollected_LastClaim) * balance) /
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supply;
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feeLedger[msg.sender].totalFeeCollected_LastClaim = totalFeeCollected;
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feeLedger[msg.sender].totalSupply_LastClaim = currentSupply;
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feeLedger[msg.sender].userBalance_LastClaim = currentBalance;
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//Add any extra fees they need to collect
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feeAllocation = feeAllocation + feeBalance[msg.sender];
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feeBalance[msg.sender] = 0;
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require(WETH.transfer(msg.sender, feeAllocation),"Failed to delegate wETH to caller");
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emit FeeClaimed(msg.sender, msg.sender, feeAllocation);
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return feeAllocation;
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}
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/**
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* @dev updates callers fee ledger, and pays out any fee owed to caller to the reciever address
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* @param reciever the address to send callers fee balance to
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* @return the amount of wETH sent to reciever
188
**/
189
function delegateFee(address reciever) public returns (uint256) {
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require(GFI.balanceOf(msg.sender) > 0, "User has no GFI");
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uint256 supply;
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uint256 balance;
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//Pick the greatest supply and the lowest user balance
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uint256 currentBalance = GFI.balanceOf(msg.sender);
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if (currentBalance > feeLedger[msg.sender].userBalance_LastClaim) {
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balance = feeLedger[msg.sender].userBalance_LastClaim;
198
} else {
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balance = currentBalance;
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}
201
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uint256 currentSupply = GFI.totalSupply();
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if (currentSupply < feeLedger[msg.sender].totalSupply_LastClaim) {
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supply = feeLedger[msg.sender].totalSupply_LastClaim;
205
} else {
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supply = currentSupply;
207
}
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SLOC Appendix

Solidity Contracts

Language
Files
Lines
Blanks
Comments
Code
Complexity
Solidity
16
2852
330
567
1955
208
Comments to Code 567/1955 = 29%

Javascript Tests

Language
Files
Lines
Blanks
Comments
Code
Complexity
JavaScript
9
2779
556
137
2086
35
Tests to Code 2086/1955 = 107%
Last modified 5d ago