The blockchain security company Quantstamp has released a security review of the DeFi SushiSwap protocol that identified ten issues with the platform.
The good news is that Uniswap fork problems are unlikely to be fatalin contrast to the critical bug that was fixed by the YFI YAM clone after 48 hours. The researchers identified two medium-risk problems, three low-risk problems, and five informational problems with the code..
Among the concerns identified were bugs that did not prevent the same liquidity provider code from being added multiple times, with the risk of disrupting the reward variables;; a vulnerability that could allow funds to be stolen from the platform if the owner’s private key were compromised; and an issue that can cause the “massUpdatePools” logs to run out of gas.
Even if None of the problems encountered were “critical enough” as if the redistribution of existing contracts should be proposed “, Quantstamp cautioned platform users.
Other researchers have pointed out additional concerns for SushiSwap users;; Cinneamhain Ventures’ partner Adam Cochran announced yesterday that The Fund for the Development of the Protocol has $ 27M in SUSHI tokens stored that could be discarded or used discard them in exchange for LP tokens. “
Although I want to believe so much in the project because a jointly owned MMA would be great if you have a $ 27M development fund at the center of your project that you don’t want to close down and think it is not a priority a red one Banner.
– Adam Cochran (@AdamScochran) 2nd September 2020
In response to criticism from Cochran, the anonymous head of SushiSwap, “Boss Nomi” said that the $ 27 million tokens were intended for “devshare”.::
In theory, I can sell them all, but I don’t see anything wrong with that. This is the devshare and was stated there from the start.
For his part, Cochran said SushiSwap’s reward-to-risk ratio was out of whack and went to the farm elsewhere.
Warning: I have left the last of my positions $ Sushi. The founder has made no progress in storing funds and is now deliberately calling a “security clearance” a full audit. With this pumping ability, the fully diluted value is nearly $ 2 billion. There is too much risk here and not much to be gained. I’m out.
– Adam Cochran (@AdamScochran) September 3, 2020
Even though they’re less than a week old SushiSwap has already attracted more than $ 1.4 billion in stored funds from Uniswap with the promise of huge profits for liquidity providers in a business model that some a “Vampire attack“.
The protocol’s native token has grown by more than 600% in the last few days and has become one of the 70 best crypto assets by capitalization.with a 24-hour trading volume exceeding 200% of its market capital of a quarter of a million dollars.
There was an explosion of food-themed DeFi clones on Uniswap Kimchi and the hot dog swap have been making waves in DeFi markets over the past few days.
Although the domestic hot dog token quickly caught the imagination of productive agriculture, it fell over 99.9%, from $ 4,000 to $ 1, within five minutes, just hours of the protocol launch today.