Submission Details
Severity:
FeeCollector fee initialization doesn't follow sumup to BASIS_POINTS for swap and royalty fees
Summary
FeeCollector implement fees structures which should sum up to BASIS_POINTS for each fee type. For swap and royalty fees initialization, it doesn't default to BASIS_POINTS
Vulnerability Details
In updateFeeType, fees for a feeType should sum up to BASIS_POINTS
uint256 public constant BASIS_POINTS = 10000;
/**
* @notice Updates parameters for a specific fee type
* @param feeType Fee type to update
* @param newFee New fee parameters
*/
function updateFeeType(uint8 feeType, FeeType calldata newFee) external override {
if (!hasRole(FEE_MANAGER_ROLE, msg.sender)) revert UnauthorizedCaller();
if (feeType > 7) revert InvalidFeeType();
// Validate fee shares total to 100%
// @audit Weird behavior compared to default fees for feeType 6 & 7 (2%total, not 10_000)
// @audit HIGH => causes lost funds if not 100% (or 10_000)
if (newFee.veRAACShare + newFee.burnShare + newFee.repairShare + newFee.treasuryShare != BASIS_POINTS) {
revert InvalidDistributionParams();
}
feeTypes[feeType] = newFee;
emit FeeTypeUpdated(feeType, newFee);
}
But the fee types initialization has a misconfiguration causing it to not sum up to BASIS_POINTS
/**
* @dev Initializes default fee types according to protocol rules
*/
function _initializeFeeTypes() internal {
// Protocol Fees: 80% to veRAAC holders, 20% to treasury
feeTypes[0] = FeeType({
veRAACShare: 8000, // 80%
burnShare: 0,
repairShare: 0,
treasuryShare: 2000 // 20%
});
[...]
// Buy/Sell Swap Tax (2% total)
// @audit Doesn't sum up to 10_000
feeTypes[6] = FeeType({
veRAACShare: 500, // 0.5%
burnShare: 500, // 0.5%
repairShare: 1000, // 1.0%
treasuryShare: 0
});
// NFT Royalty Fees (2% total)
// @audit Doesn't sum up to 10_000
feeTypes[7] = FeeType({
veRAACShare: 500, // 0.5%
burnShare: 0,
repairShare: 1000, // 1.0%
treasuryShare: 500 // 0.5%
});
}
Impact
The impact is low as it will send the rest of the share to treasury but this is confusing and unexpected and should be configured properly from the beginning.
Recommendations
Set all feeTypes to sum up to BASIS_POINTS from initialization
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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