Documentation says RAACMinter contract should allow RAAC token ownership transfers but it is not the case.
Summary
The protocol documentation specifies:
"The RAACMinter contract interacts with RAACToken for minting new RAAC tokens, setting token parameters, and transferring token ownership."
There is also a mention of OWNERSHIP_TRANSFER_DELAY variable which doesn't exist.
Finally, it says: "The RAACToken ownership transfer process includes a 7-day delay and a 24-hour completion window for added security"
Currently, RAACtoken contract is Ownable, as well as RAACMinter contract. There is no ownership relation between contrary to what the documentation says.
Vulnerability Details
RAACMinter contract doesn't allow to transfer ownership of RAACToken with a security delay. Instead, RAAC token contract has its own owner, and if ownership is transferred to RAACMinter contract, any owner related function will be unaccessible.
Impact
The impact of this issue is low as there is no direct theft but a mismatch between documentation and implementation.
Tools Used
Manual review.
Recommendations
Make sure to properly implement the protocol to respect documentation/specification.
Lead Judging Commences
RAACMinter lacks critical ownership transfer functionality and parameter management after receiving RAACToken ownership, causing permanent protocol rigidity
RAACMinter lacks critical ownership transfer functionality and parameter management after receiving RAACToken ownership, causing permanent protocol rigidity
Prize pool breakdown
Live
The contest is live. Earn rewards by submitting a finding.
Appeals
This is your time to appeal against judgements on your submissions.
Appeals Review
Appeals are being carefully reviewed by our judges.