Summary
Swell Finance implements a BTC LRT aiming to be compatible with any restaking protocol to allocate to the best AVS's across multiple platforms. The system is built off YearnV3's robust Vault Codebase.
The most critical subjects covered in our audit are the functional correctness of the delayed withdrawal module and the correct integration of Yearn's VaultV3 and tokenized strategy systems. Security regarding all the aforementioned subjects is extensive.
Other general subjects covered are access control and interactions with the Aera vault. Security regarding all the aforementioned subjects is high.
The test coverage is minimal and should be improved to ensure that all code paths and features are tested.
In summary, we find that the codebase provides a good 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.
About swBTC Smart Contracts
Swell Finance implements a BTC LRT aiming to be compatible with any restaking protocol to allocate to the best AVS's across multiple platforms. The system is built off YearnV3's robust Vault Codebase.
"Swell is a non-custodial staking protocol with a mission to deliver the world’s best liquid staking and restaking experience, simplify access to DeFi, while securing the future of Ethereum and restaking services."
ChainSecurity delivered a prompt and highly professional audit of our swBTC restaking vault. Their quick response, thoroughness, and attention to detail have greatly enhanced the trust in our product. We’re eager to collaborate with them again in the future.
Chris Matthias, Head of Operations