OpenOcean (OOE)

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release: 29-3-2021

Audits & Exploits

• There is no evidence of a OpenOcean Bug Bounty in any of their documentation or on the Immunefi website (21-9-2021).
• Scored 53% on DeFi Safety (21-9-2021):

"Certik has published a OpenOcean audit report on March 9th 2021, which was weeks before their mainnet launch on March 29th 2021.

SlowMist has published multiple OpenOcean audit reports on March 9th 2021. These include BSC, Ethereum, and TRON contracts. All of these reports were published before OpenOcean's mainnet launch on March 29th 2021.

Notes On Audit Reports:

Certik's OpenSea report underlines several informational issues about the way that the OpenOcean code is written. Only one of the four issues (1/4) were resolved. However, they have resolved the most important one: OOE-04 underlined a security risk in the external call of the swap function where malicious code could be called. Since the OpenOcean team is the party that provides this external call function, both Certik and the protocol have deemed it safe/resolved.

SlowMist's OpenOcean reports underlines no real issue in the OpenOcean's exchange contract. Their use of OpenZeppelin's SafeMath mitigates any damage/bugs that could happen as a result of overflow, and is generally the recommended approach. SlowMist's only recommendation is to implement a function that would pause/shut down all contracts in case of anomalies."

Governance

Admin Keys

• From DeFi Safety (21-9-2021):

"Although there are multiple section of the OpenOcean documentation that mention governance, there are no real admin access controls documented/explained.

Note: Upon examining the OpenOcean code, they make use of high-level calls (returndata), which along with external calls can signify multiple instances where external contracts can be called. Along with the use of Interface and Library contracts, this is clear evidence that the Exchange contract is very upgradeable. In addition, the contract owner is a private address.

For the farming contract, the use of SafeERC20Upgradeable and the Initialize function are clear indicators that this contract is upgradeable as well.

A Pausable.sol function was found in the OpenOcean Exchange v2 contract. However, the team does not mention it in any of their documentation, and no tests were ever recorded."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Ethereum, Binance Smart Chain, Polygon

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].

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