OpenFunds.app Power Lake

Rating

Overall Score
75
 
 
 
Backdoors
100
Owner Privileges
100
Fees
80
Complexity
90
Team Trust
20
Other Risk
60
 
 
 
 
 
Higher score is always better

Summary

This smart contract has been reviewed by George Stamp and found no backdoor code, and the owners privilege is to start the dapp. There is no malicious code that allows the owner (or other) to withdraw all funds from the smart contract.

This is an evolution of Open Funds V2 with no unstake penalty and 4 different investment plans.

See the differences from DinoBUSD: https://www.diffchecker.com/9ATsSr0E
See the differences from V1 here: https://www.diffchecker.com/vM2ayBGt
See the differences from V2 here: https://www.diffchecker.com/SSNgH8f6

Contract Details

Chain: BNB Smart Chain
Token: BUSD (0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56)
Dapp Type : ROI DAPP
Daily ROI depends on chosen time lock:
- 7 days lock: 1.0 % daily ROI
- 14 days lock: 1.5% daily ROI
- 30 days lock: 2.0% daily ROI
- 60 days lock: 3.5% daily ROI

Unstake function has no penalty but may not be triggered before 1 day of investment.
Each deposit is independent from any other deposit in that they do not interact with each other. Users may unstake or claim rewards with no interaction between each other deposits.

Backdoors

There are no backdoor methods that withdraw funds to a non investor wallet.

Owner Privileges

There is no owner privilege. Once deployed this contract works by itself and does not need any intervention to run and allow investments to flow in.

Fees

Deposit : 6% (not modifiable by owner)
Withdraw : 3% (not modifiable by owner)

Complexity

The contract originally is a fork of Dino BUSD, and the ability to unstake without penalty is an interesting take. It has evolved from V1 and V2.

This contract uses Reentrancy Guard modifiers even though it is not necessary: ERC20 tokens are not vulnerable to reentrancy attacks. Simply following the Pull over Push pattern makes for more readable source code and prevents recursive loop vulnerabilities (reentrancy).

Team Trust

The team has 5 members in their telegram group at the time of the audit and seems to be their first project. They claim to be working for a diginet company, as a first step in decentralized finance.

It should be noted that this contract is not used nor is marketed, it was built as an experience, at the time of writing this audit. This also goes to V1 & V2.

Other Risk

This is a ROI dapp that relies on new funds being invested, if the contract reaches $0 then investors will not be paid out and unstake will not be possible anymore.
Investors can unstake their deposited amount + accumulated rewards with no penalty & no fees.
Fees are sent from the investor wallet to the developer wallet, which means the dapp needs to approve more than what the user is willing to invest.

Disclaimer

This contract has been audited by a human.
Only invest what you can afford to lose.
DYOR - Do your own research