Manual Review

A thorough line-by-line review was conducted on the codebase to identify potential malfunctions and vulnerabilities in Redacted Cartel's new BTRFLY V2 token.

As the project at hand implements a token migration mechanism, 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 a race-condition within the system's minting contract which could have had moderate ramifications to its overall operation, however, it was conveyed ahead of time to the Redacted Cartel team to be promptly remediated.

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.

A total of 10 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
BTR-01M			Deviation From BTRFLY V1
MAR-01M			Improper Mint Allowance Race Condition
RLB-01M			Unsafe Casting Operations
TMR-01M			Favourable Conversion Rate