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Summary
The most critical subjects covered in our audit are functional correctness, precision of arithmetic operations, signature handling and resilience.
Most of the issues provided in this report have been fixed. However, the team chooses to not mitigate risks associated with depegs of the underlying stable token.
In summary, we find that the codebase provides a good level of security.
It is important to note that security audits are time-boxed and cannot uncover all vulnerabilities. They complement but don't replace other vital measures to secure a project.
About Ethereal Smart Contracts
Ethereal implements a perpetual futures exchange. The system is comprised of smart contracts and an off-chain application. This review details the smart contracts.