Manual Review

A thorough line-by-line review was conducted on the codebase to identify potential malfunctions and vulnerabilities in Plutus DAO's Hedge Vault.

As the project at hand implements an EIP-4626 vault, 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 multiple EIP deviancies within the system which could have had minor-to-moderate ramifications to its overall operation; we advise all non-informational exhibits within the audit report to be closely examined.

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 the extent it need be, however, the purpose of the controller notion in the codebase is unknown and should be clarified by the Plutus DAO team.

A total of 6 findings were identified over the course of the manual review of which 4 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
HVT-01M			Unused Code
HVT-02M			Inexistent Reflection of Pause State in All EIP-4626 Limits
HVT-03M			Improper Enforcement of Total Deposit Limits
HVT-04M			Inexistent Reflection of Strategy Funds in Withdrawal / Redemption Limits