Comments (11)
Escalate
This is not duplicate of #35 and is talking about such design in FundingRateArbitrage that allows depositors to avoid any loss.
Also this was confirmed as issue by sponsor with decision that users need to take the risk of loss
.
from 2023-12-jojo-exchange-update-judging.
1 comment(s) were left on this issue during the judging contest.
takarez commented:
invalid because { invalid as no clear explanation}
from 2023-12-jojo-exchange-update-judging.
Escalate
This is not duplicate of #35 and is talking about such design in FundingRateArbitrage that allows depositors to avoid any loss.
Also this was confirmed as issue by sponsor with decision thatusers need to take the risk of loss
.
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You may delete or edit your escalation comment anytime before the 48-hour escalation window closes. After that, the escalation becomes final.
from 2023-12-jojo-exchange-update-judging.
@JoscelynFarr can you take a look? Imo, I see no difference in the invalidation reason stated in #35 and this. Both states similar reasonings to why index prices can fall.
from 2023-12-jojo-exchange-update-judging.
I am not talking about loss of funds for user here. I am talking about loss of funds for protocol and about wrong implementation that doesn't distribute losses on users.
from 2023-12-jojo-exchange-update-judging.
@JoscelynFarr can you take a look? Imo, I see no difference in the invalidation reason stated in #35 and this. Both states similar reasonings to why index prices can fall.
Agree with you, I think there are same.
from 2023-12-jojo-exchange-update-judging.
@rvierdiyev I don't see the funds lost here that impacts the protocol from users retaining JUSD. I believe that is the best case scenario for them when the admins of the trusted protocol makes a bad trade, given they retain their original JUSD value relative to the collateral deposited. So I believe your issue is a duplicate of #35 albeit I'm not sure your recommendation applies, given if it was ERC4626 like, if protocol makes a bad trade, the exchange rate for shares would be influenced anyways.
from 2023-12-jojo-exchange-update-judging.
@nevillehuang
Jusd should be backed 1:1 with USDC. When users deposit their usdc into the FundingRateArbitrage contract, then protocol mints same amount of jusd for them. But in case if FundingRateArbitrage make a loss, then it means that judc that was minted for the depositors is not backed anymore by protocol. This is what i meant when talking about loss for protocol.
from 2023-12-jojo-exchange-update-judging.
I believe this issue identifies the same root cause as 35, planning to reject escalation and keep issue state as is.
from 2023-12-jojo-exchange-update-judging.
Result:
Invalid
Duplicate of #35
The severity may still be altered due to an escalation on #35.
from 2023-12-jojo-exchange-update-judging.
Escalations have been resolved successfully!
Escalation status:
- rvierdiyev: rejected
from 2023-12-jojo-exchange-update-judging.
Related Issues (20)
- OrderSol - User can circumvent withdrawTimeLock by using several accounts HOT 4
- Irissme - Missing nonReentrant Modifier in repayJUSD Function HOT 2
- Irissme - Lack of nonReentrant Modifier in External Contract Interactions HOT 2
- OrderSol - User can DDOS withdrawal of funds for other user HOT 2
- giraffe - Lack of input validation for executeWithdraw leads to total loss of funds HOT 1
- giraffe - Donation attack can steal other user's funds in FundingRateArbitrage HOT 1
- lil.eth - Users can still avoid to be liquidated HOT 3
- 404Notfound - Lack of access control in `BotSubaccountFactory.sol#newSubaccount()` HOT 2
- FastTiger - `tRate` was calculated incorrectly in the `JUSDBankStorage.sol#accrueRate` function. HOT 1
- dany.armstrong90 - JUSDOperation.sol#initReserve function misses the check of _initialMortgageRate < _liquidationMortgageRate. HOT 2
- FastTiger - Due to an error in the `Funding.sol#requestWithdraw` function, legal `withdraw` fails. HOT 1
- dany.armstrong90 - Administrator could initialize bad debt by mistake. HOT 2
- dany.armstrong90 - There is no consideration about difference of decimals of JUSD and collaterals in JUSDBank. HOT 2
- 0xC - Ignoring the Return Value of `IJUSDBank(jusdBank).repay(JUSDAmount, to)` in the `GeneralRepay` Contract HOT 1
- millietez - No validation of the address parameter value in the contract constructor HOT 2
- millietez - Sent native ether will not be recorded in the contract HOT 2
- giraffe - Gas griefing of Owner through requestWithdraw HOT 13
- 404Notfound - Incorrect `withdrawEarnUSDCAmount` is returned in function `FundingRateArbitrage.sol#requestWithdraw` HOT 4
- millietez - Unprotected call to a custom contract HOT 2
- `Function` is not good
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from 2023-12-jojo-exchange-update-judging.