Manual Review

A thorough line-by-line review was conducted on the codebase to identify potential malfunctions and vulnerabilities in Steer Protocol's Blackhole position manager.

As the project at hand implements an Algebra-inspired Blackhole integrating position manager, 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 three significant vulnerabilities within the system which could have had moderate-to-severe ramifications to its overall operation; for more information, kindly consult the relevant medium and major severity items in 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 a certain extent, however, we strongly recommend it to be expanded at certain complex points such as the specialized flag system used.

A total of 22 findings were identified over the course of the manual review of which 9 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
BPM-01M			Unknown Library Integration
BPM-02M			Partial Validation of Overlapping Ranges
BPM-03M			Potentially Stale Data Point
BPM-04M			Inexistent Re-Entrancy Protection
BPM-05M			Potential Truncation of Distributed Amounts
BPM-06M			Inexistent Access Control
BPM-07M			Insecure Tick Delta Evaluation
BPM-08M			Unauthorized Claim of Rewards
BPM-09M			Inexistent Handling of Captured Rewards