Summary
The most critical subjects covered in our audit are functional correctness, precision of arithmetic operations, and front-running. Security regarding all the aforementioned subjects is good but improvable, see Unaccounted roundings when depositing and withdrawing and Balance of Euler account counted twice in calcLimits(). Notice that Euler decided not to fix some of the issues for the time being; these issues have been marked Acknowledged .
The general subjects covered are code complexity, gas efficiency, and trust relationships. Security regarding all the aforementioned subjects is high.
In summary, we find that the codebase provides a good level of security, which could be improved if all the outstanding issues were to be addressed.
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 EulerSwap
Euler implements EulerSwap, an AMM that uses a custom bonding curve, and enhances its liquidity by borrowing additional funds from Euler vaults.
ChainSecurity delivered an exceptional audit for our project. Their meticulous approach and quick responsiveness enhanced our security and provided crucial insights. We greatly appreciate their dedication and excellent communication throughout the process.
Erik Arfvidson, Head of Cybersecurity, Euler Finance