Aperture Finance

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:

Audits & Exploits

• No bug bounty is listed in Aperture's documentation (13-4-2022).
• Scored 75% on DeFi Safety (13-4-2022):

Contract ApertureManager is used in excess of 100 times a day. There is no report of the tests conducted on Aperture finance. Aperture has not undergone formal verification. Aperture undertook an audit by Oak Security. Given that the contracts that were audited are not available for comparison, we must deduct 25% as per guidance. This is because we cannot verify if the code deployed is the same code that has been subject to the audit. This audit predated the public deployment of Aperture's contracts.

With the comment:

"Aperture does a great job at allowing as much light as it can onto itself as a closed source protocol. Its passing grade is very impressive given that all of our analyses are done using exclusively public information.

Aperture further uses its wide lens opening to capture great documentation and clear access control information. This gives users a good image of how their funds are custodied, and quick links to their oracle information makes this really snappy to understand.

This protocol is held back significantly by their closed source code. We reduced their audit score by 25% for this, as per guidance. This leads to poor testing and software documentation scores. Security by obscurity is uncertain - we hope Aperture will open source soon."

Governance

Admin Keys

• From DeFi Safety (13-4-2022):

"Admin control is easily located in Aperture's documentation. All of Aperture's deployed contracts are identified as upgradeable if they are. This is listed in their documentation. Smart contract change capabilities are clearly identified in Aperture's documentation. In each of the contracts, each specific upgrade function is identified. Aperture does not use a pause control, and this is justified in their documentation. Since the contracts are upgradeable, this is subject to change - as identified in their documentation. Aperture does not use a timelock, and this is justified on grounds of allowing from people to create new positions."

Technology

• Whitepaper or docs can be found here.
• Code can be viewed here. From DeFi Safety (13-4-2022):

"Unfortunately, without access to the contract repository we cannot quantify development history. The audit conducted on this protocol confirms the existence of a contracts repository, but at this point Aperture retains its contracts in a private repository."

Implementations

• Built on: Terra Classic and Mirror Protocol
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Fees

• Aperture Finance has 10% performance fees on net gain for their delta-neutral strategies (30-4-2022).

Oracle Method

• From DeFi Safety (13-4-2022):

"Aperture's oracle source is mentioned in the documentation and audit as being dependent on Mirror, and related documentation is linked. The contracts dependent (Delta-neutral Strategy) on this oracle are identified and there is comprehensive software function documentation in the linked documentation. Aperture uses Atomic Transactions that prevent front-running strategies against their users. Aperture is not subject to flashloan attacks, given that flashloans are not currently a feature of the Terra ecosystem."

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].

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