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Ditto
DeFiFoundryOracle
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Submission Details
Severity: low
Invalid

Sub optimal price execution due to lack of deadline restriction

hash

Vulnerability Details

There is no deadline associated with order creation for all types of orders. Hence an order creation transaction not executed immediately due to reasons like sudden spike in gas cost, could get carried out at significantly different market condition in the future, unless the user explicitly invalidates this transaction. Since shorts only occur at near the oracle price, this issue is less significant for short orders.

function createBid(
address asset,
uint80 price,
uint88 ercAmount,
bool isMarketOrder,
MTypes.OrderHint[] calldata orderHintArray,
uint16[] calldata shortHintArray
)

createBid function

Example Scenario:

  1. Current price of USDC is 0.6

  2. User creates a bid at 0.58 and sends the tx

  3. Due to spike in gas fees, user's tx doesn't get included in blocks for 2hrs

  4. MATIC price drops to 0.5

  5. User doesn't want to go ahead with the bid. To cancel the bid, the user is forced to make a possibly useless transaction with a high gas price.

Impact

  1. The user might have to spend and monitor more in cancelling the order than getting cancelled with the deadline check

  2. The user could end up conceding a bad trade.

Tools Used

Manual Review

Recommendations

Add a deadline parameter for createBid and createAsk functions.

diff --git a/contracts/facets/BidOrdersFacet.sol b/contracts/facets/BidOrdersFacet.sol
index 1f5edab..b54168a 100644
--- a/contracts/facets/BidOrdersFacet.sol
+++ b/contracts/facets/BidOrdersFacet.sol
@@ -42,7 +42,8 @@ contract BidOrdersFacet is Modifiers {
uint88 ercAmount,
bool isMarketOrder,
MTypes.OrderHint[] calldata orderHintArray,
- uint16[] calldata shortHintArray
+ uint16[] calldata shortHintArray,
+ uint deadline
)
external
isNotFrozen(asset)
@@ -50,6 +51,7 @@ contract BidOrdersFacet is Modifiers {
nonReentrant
returns (uint88 ethFilled, uint88 ercAmountLeft)
{
+ require(block.timestamp<=deadline,"Expired");
// Update oracle and starting short if last updated more than 1 hour ago
LibOrders.updateOracleAndStartingShortViaTimeBidOnly(
asset, OF.OneHour, shortHintArray
​
Updates

Lead Judging Commences

0xnevi Lead Judge
almost 2 years ago
0xnevi Lead Judge almost 2 years ago
Submission Judgement Published
Invalidated
Reason: Other

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