Mangrove implements a peripheral contract for the Mangrove core system which allows users to submit Good-till-cancelled orders and Fill-or-kill orders.

The most critical subjects covered in our audit are functional correctness, absence of reentrancy possibilities, access control, handling of funds, and accounting. We have uncovered some important bugs. Regarding functional correctness, we uncovered a bug where the gas price for an updated order is calculated and submitted incorrectly. Regarding accounting, we have uncovered a vulnerability affecting the order updates which can allow an attacker to steal funds from Mangrove core system. However, the impact of the vulnerability is not big since it is not expected that an attacker can steal a significant amount. Moreover, as far as internal accounting is concerned, if an updated order requires less provision than before, the provision is not refunded to the end users. All the aforementioned issues were addressed in the second iteration.

The general subjects covered are code complexity, use of uncommon language features, unit testing, documentation, specification, gas efficiency, trustworthiness and error handling. Security regarding all the aforementioned subjects is high.

In summary, we find that the codebase provides a high level of security.

It is important to note that security audits are time-boxed and cannot uncover all vulnerabilities. They complement but don’t replace other vital measures to secure a project.