Risk Assessment
Security History
Monitoring
Overall Score
71%
Alert
- AssessorKop, supergu
- Assessment Date2024-03-25
Not yet undergone Underwriting review
SyncSwap presents a mixture of strengths and weaknesses. Positively, it features a non-upgradable smart contract for security, user-friendly documentation, a battle-tested AMM formula based on Curve and Uniswap, and a strong community backing. On the downside, risks include contract ownership by an EOA, creating a security vulnerability, the complexity and risks from flash loan support, lack of transparency regarding the team, and the absence of a decentralized governance system.
Economic
78%
The AMM formula, influenced by Curve's model, has undergone extensive battle testing.
Common attacks have been successfully mitigated, showcasing strong security measures in place.
Despite the AMM formula being battle-tested, the project, launched a year ago, has not yet undergone extensive real-world testing to validate its resilience and security.
Support for flash loans introduces additional complexity and associated risks to the system.
Operation
55%
The protocol boasts a significantly large community, indicating a robust level of engagement and interest from users.
Details regarding the team members and founders are not publicly disclosed, leading to a lack of transparency about the project's leadership.
A decentralized governance system is currently not established within the protocol.
Technical
73%
The smart contract is designed as non-upgradable, which inherently reduces the risk associated with post-deployment modifications.
High contract activity indicates robust user engagement and a healthy operational state.
The ownership of the contract is assigned to an EOA, presenting a potential security vulnerability due to the risk of private key exposure.
The absence of a bounty program could limit the discovery and resolution of potential security vulnerabilities, reducing the protocol’s defensive capabilities.