Manual Review

A thorough line-by-line review was conducted on the codebase to identify potential malfunctions and vulnerabilities in Optimex's lending system.

As the project at hand implements a Morpho-integrating lending system, intricate care was put into ensuring that the flow of funds within the system conforms to the specifications and restrictions laid forth within the protocol's specification.

We validated that all state transitions of the system occur within sane criteria and that all rudimentary formulas within the system execute as expected. We pinpointed two significant vulnerabilities within the system which could have had moderate-to-severe ramifications to its overall operation; we advise the Optimex team to promptly evaluate and address the relevant medium and major severity items within the audit report.

Additionally, the system was investigated for any other commonly present attack vectors such as re-entrancy attacks, mathematical truncations, logical flaws and ERC / EIP standard inconsistencies. The documentation of the project was satisfactory to an exemplary extent, containing extensive in-line documentation supplementing its legible code.

A total of 10 findings were identified over the course of the manual review of which 6 findings concerned the behaviour and security of the system. The non-security related findings, such as optimizations, are included in the separate Code Style chapter.

The finding table below enumerates all these security / behavioural findings:

ID	Severity	Addressed	Title
APM-01M			Inexistent Loan-to-Value Ratio Validation
APM-02M			Incorrect Overwrite of Credits
MLR-01M			Potentially Outdated Position Information
MLR-02M			Profit Capture in Bad Debt Scenarios
OBT-01M			Potential Race Condition of Mints
OCT-01M			Potentially Inadvertent Authorization