Audit

OmniTensor enlisted Ether Authority to conduct a security audit of its smart contract, aiming for a secure and smooth deployment. The audit reviewed the Solidity code for the OmniTensor token (OMNIT) on September 18, 2024, using both manual analysis and automated tools like Slither and Solhint.

Key Features of OMNIT ERC20 Token

• ERC20 Standard

  OmniTensor follows the ERC20 token standard, supporting token transfers, approvals and balance management.

• Ownership Control

  The contract allows for ownership transfer and renunciation, giving the owner the power to adjust taxes, manage excluded accounts and enable trading.

• Uniswap Integration

  The contract is connected to Uniswap V2 to handle token swaps and liquidity management.

• Taxation Mechanism

  A transaction tax (initially 30%) is applied on Uniswap trades, adjustable by the owner.

• Limits

  The contract sets maximum transaction and wallet holding limits, which can be disabled by the owner.

Audit Scope

The audit reviewed several key areas, including:

• Verifying the smart contract’s functionality.

• Identifying potential security issues.

• Reviewing code quality and adherence to best practices.

• Assessing business risks tied to ownership control.

Summary of Findings

The audit yielded a favorable assessment of the OmniTensor smart contract, with no critical vulnerabilities found. Some minor issues were highlighted. Below is a summary of the key findings:

No Critical or High-Severity Issues

No vulnerabilities were identified that posed immediate risks.

Low Severity Issues:

• Centralization Risk

  The owner controls trading and liquidity management, raising a potential risk if the owner's wallet is compromised. Securing the owner's private keys is crucial.

• Lack of Event Logging

  Some functions, such as withdrawEth, recoverTokens and adjustTaxRates, lack event logs, making it harder to track changes. Adding logs is recommended for better traceability.

• Manual Token and Coin Transfers

  Before trading begins, the owner must manually transfer tokens and coins. Automating this process or ensuring careful execution is advised.

Informational:

• Unused Gas in withdrawEth Function

  Adding checks for the contract balance before executing transfers would improve gas efficiency.

• Immutable Variables

  Declaring certain variables, such as wallet addresses, as immutable can help improve gas efficiency and make third-party reviews easier.

Business Risk Analysis

• Transaction and Wallet Limits

  These limits can help prevent large transactions, but once disabled, they cannot be re-enabled, which may pose a risk.

• Ownership Control

  The owner retains significant control over trading, taxes and withdrawing funds. While this offers flexibility, it reduces decentralization. Renouncing ownership when no longer needed is suggested to mitigate risk.

The OmniTensor smart contract successfully passed the audit without critical issues. Minor recommendations focused on ownership management and key security practices. Investors and users are encouraged to do their own research, as a technical audit does not ensure ethical conduct from the project team.

Audit Report

The full audit report is publicly available and can be accessed at: https://etherauthority.io/omnitensor-smart-contract-audit