Submission Details
Severity:
Swap taxes and NFT royalties are 10x higher than supposed to
Summary
Fee types [6] and [7] have an extra 0 upon initialization
Details
Fee types [6] and [7] are expected to be 2% total, expressed in basis points.
// Buy/Sell Swap Tax (2% total)
feeTypes[6] = FeeType({
veRAACShare: 500, // 0.5%
burnShare: 500, // 0.5%
repairShare: 1000, // 1.0%
treasuryShare: 0
});
// NFT Royalty Fees (2% total)
feeTypes[7] = FeeType({
veRAACShare: 500, // 0.5%
burnShare: 0,
repairShare: 1000, // 1.0%
treasuryShare: 500 // 0.5%
});
However 2% in Basis points = 200, whereas these values amount to 2000, meaning fees are 10x higher. Additionally, updating them is impossible since the current implementation of updateFeeType requires the sum of all 4 parts to total 10_000 BPS (subject of another issue)
// Validate fee shares total to 100%
if (newFee.veRAACShare + newFee.burnShare + newFee.repairShare + newFee.treasuryShare != BASIS_POINTS) {
revert InvalidDistributionParams();
}
Impact
Logic error, inflated fees
Mitigation
Delete the extra zero.
Updates
Lead Judging Commences
inallhonesty 7 months ago
Submission Judgement Published Assigned finding tags:
Fee shares for fee type 6 and 7 inside FeeCollector do not total up to the expected 10000 basis points, this leads to update problems, moreover they are 10x the specifications
Prize pool breakdown
Total prize
77,280 USDC
nSLOC
3,86420
USDC / LOC
74,000
3,280
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