Borderless Money - Audit Report

Introduction

BlockApex (Auditor) was contracted by  Borderless Money (Client) for the purpose of conducting a Smart Contract Audit/Code Review. This document presents the findings of our analysis which started on  Septemebr 12th, 2022. 

Scope

The git-repository shared was checked for common code violations along with vulnerability-specific probing to detect major issues/vulnerabilities. Some specific checks are as follows:

Project Overview

Borderless Money is a decentralized finance protocol redefining how Social Investments are made, using yield-generating strategies and contributing to social causes. An open, borderless digital society, with borderless money, where the goods, services, technology, information, opportunities, and capital can flow through the borders from one hand to many, fairly, transparently. 

Methodology & Scope

The BOM Token codebase was audited using a filtered audit technique. A pair of auditors scanned the codebase in an iterative process spanning over a span of 4 days. 

Starting with the recon phase, a basic understanding was developed and the auditors worked on establishing presumptions for the codebase and the relevant documentation/ whitepaper provided or found publicly. 

Furthermore, the audit moved on with the manual code reviews with the motive to find logical flaws in the codebase complemented with code optimizations, software and security design patterns, code styles, best practices and identifying false positives that were detected by automated analysis tools.

Audit Report

Executive Summary

The analysis indicates that the contract under scope of audit is working properly.

Our team performed a technique called “Filtered Audit”, where the contract was separately audited by two individuals. After a thorough and rigorous process of manual testing, an automated review was carried out using tools like slither for an extensive static analysis and foundry for property testing the invariants of the system. All the flags raised were manually reviewed in collaboration and re-tested to identify the false positives.

Properties Tested

DISCLAIMER

The smart contracts provided by the client for audit purposes have been thoroughly analyzed in compliance with the global best practices till date w.r.t cybersecurity vulnerabilities and issues in smart contract code, the details of which are enclosed in this report. 

This report is not an endorsement or indictment of the project or team, and they do not in any way guarantee the security of the particular object in context. This report is not considered, and should not be interpreted as an influence, on the potential economics of the token, its sale or any other aspect of the project. 

Crypto assets/tokens are results of the emerging blockchain technology in the domain of decentralized finance and they carry with them high levels of technical risk and uncertainty. No report provides any warranty or representation to any third-Party in any respect, including regarding the bug-free nature of code, the business model or proprietors of any such business model, and the legal compliance of any such business.

No third-party should rely on the reports in any way, including for the purpose of making any decisions to buy or sell any token, product, service or other asset. Specifically, for the avoidance of doubt, this report does not constitute investment advice, is not intended to be relied upon as investment advice, is not an endorsement of this project or team, and it is not a guarantee as to the absolute security of the project.

Smart contracts are deployed and executed on a blockchain. The platform, its programming language, and other software related to the smart contract can have its vulnerabilities that can lead to hacks. The scope of our review is limited to a review of the Solidity code and only the Solidity code we note as being within the scope of our review within this report. The Solidity language itself remains under development and is subject to unknown risks and flaws. The review does not extend to the compiler layer, or any other areas beyond Solidity that could present security risks.

This audit cannot be considered as a sufficient assessment regarding the utility and safety of the code, bug-free status or any other statements of the contract. While we have done our best in conducting the analysis and producing this report, it is important to note that you should not rely on this report only - we recommend proceeding with several independent audits and a public bug bounty program to ensure security of smart contracts.