Rari Capital security record

Arbitrum, Ethereum, Fantomrari.capitalXGitHub

As of 3 Nov 2026, Rari Capital has 3 audit reports by 1 security firm on Trustblock; the latest is by Quantstamp, dated 2 Jul 2021. Those reports list no open critical findings. It also holds 1 incident (latest 7 May 2021).

Critical findings
No open critical findings
Across 3 reports.
Incident
Incident 7 May 2021
Source: De.Fi incident database. 1 audit has been published since. See the incident
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Record last updated . It holds audits, findings and contracts up to Nov 2026, and incidents up to Oct 2026. Trustblock does not review code.

Audits3

Newest first

AuditSecurity firmDateScopeCritical findingsReport
Rari Capital (On-chain Governance)Security firm: QuantstampDate: Scope: Files named in the reportNo open critical findingsOpen · certificate.quantstamp.com
RariCapitalSecurity firm: QuantstampDate: Scope: Files named in the reportNo open critical findingsOpen · certificate.quantstamp.com
RariCapital V2Security firm: QuantstampDate: Scope: Files named in the reportNo open critical findingsOpen · certificate.quantstamp.com

Findings82

Statuses are the security firm’s own, from each report.

SeverityOpenAcknowledgedFixed
Critical000
High006
Medium2210
Low93320
MediumGas Usage / `for` Loop ConcernsRariCapital · Quantstamp · 20 Aug 2020Open

Gas usage is a main concern for smart contract developers and users, since high gas costs may prevent users from wanting to use the smart contract. Even worse, some gas usage issues may prevent the contract from providing services entirely. For example, if a `for` loop requires too much gas to exit, then it may prevent the contract from functioning correctly entirely. The following instances have been found in the code base: 1. The nested `for`-loops inside `upgradeFundManager` could reach an out-of-gas error if the total number of pools for all currencies becomes large enough. This would prevent upgrades of `RariFundManager.sol`. 1. The nested `for`-loops inside `upgradeFundContoller` could reach an out-of-gas error if the total number of pools for all currencies becomes large enough. This would prevent upgrades of `RariFundController.sol`. 1. The loop inside `setFundManager` could reach an out-of-gas error if the number of supported currencies was too high. 1. The `withdrawAndExchange` function could reach an out-of-gas error if the number of `inputCurrenyCodes` was too high. 1. `getAllBalances` in `RariFundController` contains nested loops and a call to potentially expensive external functions inside the inner loop. 1. `marketSell0xOrdersFillOrKill` contains a loop with calls to to potentially expensive external functions and could reach an out-of-gas error if the number of orders was too high. 1. `checkLossRateLimit` contains a loop and could reach an out-of-gas error if the `_lossRateHistory` was too long. 1. `cachePoolBalances` contains nested loops and could reach an out-of-gas error if the number of supported currencies and number of pools was too high. 1. The loop inside `_withdrawFrom` could reach an out-of-gas error if the number of pools for a given currency code was too high. 1. The `exchangeAndDeposit` and the `withdrawAndExchange` functions in `RariFundProxy.sol` use `transfer()` instead of `call.value()` on L203 and L259, respectively. This might have issues when gas cost changes in the future. This has happened in the Istanbul hard fork, which increased the cost such that several existing smart contracts which were using `transfer()` broke due to out-of-gas errors. We anticipate that gas cost will continue to change in the future. 1. The `marketSell0xOrdersFillOrKill` function in `RariFundController.sol` uses `transfer()` instead of `call.value()` on L524. This might have issues when gas cost changes in the future. 1. The upgrade approach in `initNetDeposits()` might not be feasible if there are a significant number of users. Consider proxy storage approaches instead.

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MediumGas Usage / `for` Loop ConcernsRariCapital V2 · Quantstamp · 20 Aug 2020Open

Gas usage is a main concern for smart contract developers and users, since high gas costs may prevent users from wanting to use the smart contract. Even worse, some gas usage issues may prevent the contract from providing services entirely. For example, if a `for` loop requires too much gas to exit, then it may prevent the contract from functioning correctly entirely. The following instances have been found in the code base: 1. The nested `for`-loops inside `upgradeFundManager` could reach an out-of-gas error if the total number of pools for all currencies becomes large enough. This would prevent upgrades of `RariFundManager.sol`. 1. The nested `for`-loops inside `upgradeFundContoller` could reach an out-of-gas error if the total number of pools for all currencies becomes large enough. This would prevent upgrades of `RariFundController.sol`. 1. The loop inside `setFundManager` could reach an out-of-gas error if the number of supported currencies was too high. 1. The `withdrawAndExchange` function could reach an out-of-gas error if the number of `inputCurrenyCodes` was too high. 1. `getAllBalances` in `RariFundController` contains nested loops and a call to potentially expensive external functions inside the inner loop. 1. `marketSell0xOrdersFillOrKill` contains a loop with calls to to potentially expensive external functions and could reach an out-of-gas error if the number of orders was too high. 1. `checkLossRateLimit` contains a loop and could reach an out-of-gas error if the `_lossRateHistory` was too long. 1. `cachePoolBalances` contains nested loops and could reach an out-of-gas error if the number of supported currencies and number of pools was too high. 1. The loop inside `_withdrawFrom` could reach an out-of-gas error if the number of pools for a given currency code was too high. 1. The `exchangeAndDeposit` and the `withdrawAndExchange` functions in `RariFundProxy.sol` use `transfer()` instead of `call.value()` on L203 and L259, respectively. This might have issues when gas cost changes in the future. This has happened in the Istanbul hard fork, which increased the cost such that several existing smart contracts which were using `transfer()` broke due to out-of-gas errors. We anticipate that gas cost will continue to change in the future. 1. The `marketSell0xOrdersFillOrKill` function in `RariFundController.sol` uses `transfer()` instead of `call.value()` on L524. This might have issues when gas cost changes in the future. 1. The upgrade approach in `initNetDeposits()` might not be feasible if there are a significant number of users. Consider proxy storage approaches instead.

Open the report
LowAllowance Double-Spend ExploitRari Capital (On-chain Governance) · Quantstamp · 2 Jul 2021Open

As it presently is constructed, the contract is vulnerable to the [allowance double-spend exploit](https://github.com/OpenZeppelin/openzeppelin-solidity/blob/b4f87bb8fc25fb07f73099701e39e167a3d36465/contracts/token/ERC20/ERC20.sol#L71-L78), as with other ERC20 tokens.

Open the report
LowAllowance Double-Spend ExploitRariCapital · Quantstamp · 20 Aug 2020Open

As it presently is constructed, the contract is vulnerable to the [allowance double-spend exploit](https://github.com/OpenZeppelin/openzeppelin-solidity/blob/b4f87bb8fc25fb07f73099701e39e167a3d36465/contracts/token/ERC20/ERC20.sol#L71-L78), as with other ERC20 tokens.

Open the report
LowAllowance Double-Spend ExploitRariCapital V2 · Quantstamp · 20 Aug 2020Open

As it presently is constructed, the contract is vulnerable to the [allowance double-spend exploit](https://github.com/OpenZeppelin/openzeppelin-solidity/blob/b4f87bb8fc25fb07f73099701e39e167a3d36465/contracts/token/ERC20/ERC20.sol#L71-L78), as with other ERC20 tokens.

Open the report
LowExperimental features should not be used on Mainnet deploymentsRariCapital · Quantstamp · 20 Aug 2020Open

Until solidity `0.6.0`, the `ABIEncoderV2` feature is still technically in experimental state. Although there are no known security risks associated with it, these features should be used judiciously.

Open the report
LowExperimental features should not be used on Mainnet deploymentsRariCapital V2 · Quantstamp · 20 Aug 2020Open

Until solidity `0.6.0`, the `ABIEncoderV2` feature is still technically in experimental state. Although there are no known security risks associated with it, these features should be used judiciously.

Open the report
LowMissing input argument validationRariCapital · Quantstamp · 20 Aug 2020Open

The following functions are missing validation of input arguments: 1. `upgradeFundController` does not validate the input parameter `newContract`, which could lead to sending all funds to any EOA. **Fixed** 1. `setFundManager` does not validate the input parameter `newContract`, which could lead to setting the fund manager to any EOA. 1. `setFundController` does not validate the input parameter `newContract`, which could lead to setting the fund controller to any EOA. 1. `authorizeFundManagerDataSource` does not validate the input parameter `authorizedFundManagerDataSource`, which could lead to setting a data source value of `0x0` for the fund manager. 1. `setFundToken` does not validate the input parameter `newContract`, which could lead to setting the token to any EOA. 1. `setFundProxy` does not validate the input parameter `newContract`, which could lead to setting the proxy to any EOA. 1. `setGsnTrustedSigner` does not validate the input parameter `newAddress`, which could lead to setting the fund manager to `0x0`. 1. `setInterestFeeRate()` should ensure that the rate is `<= 10**18`. **Fixed**

Open the report
LowMissing input argument validationRariCapital V2 · Quantstamp · 20 Aug 2020Open

The following functions are missing validation of input arguments: 1. `upgradeFundController` does not validate the input parameter `newContract`, which could lead to sending all funds to any EOA. **Fixed** 1. `setFundManager` does not validate the input parameter `newContract`, which could lead to setting the fund manager to any EOA. 1. `setFundController` does not validate the input parameter `newContract`, which could lead to setting the fund controller to any EOA. 1. `authorizeFundManagerDataSource` does not validate the input parameter `authorizedFundManagerDataSource`, which could lead to setting a data source value of `0x0` for the fund manager. 1. `setFundToken` does not validate the input parameter `newContract`, which could lead to setting the token to any EOA. 1. `setFundProxy` does not validate the input parameter `newContract`, which could lead to setting the proxy to any EOA. 1. `setGsnTrustedSigner` does not validate the input parameter `newAddress`, which could lead to setting the fund manager to `0x0`. 1. `setInterestFeeRate()` should ensure that the rate is `<= 10**18`. **Fixed**

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LowOff-by-one errorRariCapital · Quantstamp · 20 Aug 2020Open

There is a recurring condition that appears in 6 methods inside the `RariFundToken` contract, namely: `if (address(rariGovernanceTokenDistributor) != address(0) && block.number > rariGovernanceTokenDistributor.distributionStartBlock())`, which appears in the following functions: `transfer`, `transferFrom`, `mint`, `burn`, `burnFrom`and ` fundManagerBurnFrom`. The second clause in the aforementioned condition is off-by-one, because it only allows claiming RGT one block after the distribution has started.

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LowOff-by-one errorRariCapital V2 · Quantstamp · 20 Aug 2020Open

There is a recurring condition that appears in 6 methods inside the `RariFundToken` contract, namely: `if (address(rariGovernanceTokenDistributor) != address(0) && block.number > rariGovernanceTokenDistributor.distributionStartBlock())`, which appears in the following functions: `transfer`, `transferFrom`, `mint`, `burn`, `burnFrom`and ` fundManagerBurnFrom`. The second clause in the aforementioned condition is off-by-one, because it only allows claiming RGT one block after the distribution has started.

Open the report

Incidents1

Attached through a shared contract address. Our incident data ends in Oct 2026.

Incident

Incident,

totalETH() value, resulting in the withdrawal of more ETH than deposited by the attacker.

Source: De.Fi incident database.

Audits before it
2.
Audits since
1, the latest dated 2 Jul 2021.

Contracts

No deployed address is recorded for these audits.

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