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  • Writer's pictureBen Konrath
    • Jan 28, 2022
    • 2 min read

BTblock Completes Cardano Smart Contract Review for ADAX



Today, BTblock has completed the Cardano smart contract security review for ADAX, which is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a completely decentralized and non-custodial way.


The BTblock Process


When BTBlock performs an assessment, we focus on the code committed at a specific time when the code base is feature complete. Our goal is to give our clients the following:

  • A better understanding of its security posture and help them identify current and future risks in its deployed chain & contract infrastructure.

  • An opinion on what security measures are in place regarding maturity, adequacy, and efficiency.

  • Identify potential issues, including loss of funds scenarios, and include improvement recommendations based on the result of our assessment.

  • Give the development team a better understanding of writing and maintaining more secure code. The incremental increase of security is part of the overall increased quality of the project.


In reviewing solutions such as ADAX, we review a threat assessment of possible exploits of the system. Still, we review the code, program authentication scenarios and all components, and fund loss scenarios. This review met our requirements for an effectively implemented product in all situations, including resolving any findings we uncovered.


Findings & Report


During the Security Assessment for the Cardano Smart Contract, we discovered:


  • 3 findings with a LOW severity rating.

  • 6 findings with an INFORMATIONAL severity rating.


NOTE: The ADAX team quickly resolved any findings to our satisfaction


BTblock concludes that the code is well written and has a solid design. We only found minor flaws that would not have been exploitable in the "wild" and some informational findings leading to greater clarity of the purpose and execution of the smart contract.

Based on our findings, we conclude that the contract will perform the intended purpose without any security issues based on the reviewed contract design and implementation.

Read the full report:


ADAX code review v1.0
.pdf
Download PDF • 772KB


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