From the creators of the Revest Protocol, Revest Finance is proud to introduce Resonate. Resonate intends to solve one of the biggest problems in DeFi by creating a marketplace for swapping up-front interest payments for future yields. Resonate uses pools to group traders by product attributes (locking terms, asset type, etc.) and clears orders using an automated queue-based matching system. The protocol is built on top of Revest and uses much of the existing infrastructure, including lockable FNFTs.
Zellic conducted an audit for Revest Finance from July 18th to July 22nd, 2022.
Our general overview of the code is that it appears mechanically optimized and gas efficient, using queues to match issuers and purchasers.
We applaud Revest Finance for the documentation and the articles that detail in depth the inner workings of the Resonate project, explaining not only the mechanism but also the economic incentives of the market participants.
Zellic thoroughly reviewed the Resonate codebase to find protocol-breaking bugs and to find any technical issues outlined in the Methodology section (ref) of this document.
Zellic met with the Revest Finance team to discuss their threat model. In our review we paid special attention to its pass through governance and reentrancy, oracle, and centralization risks.
Due to the complexity of the protocol, we worked through many possible exchanges between issuers and purchasers across different pool configurations.
During our assessment on the scoped Resonate contracts, we discovered six findings. One of which was critical and has since been addressed by Revest. Of the remaining five findings, one was medium severity, two were of low severity, and the remaining were informational in nature.
Additionally, Zellic recorded its notes and observations from the audit for Revest Finance's benefit in the Discussion section (ref) at the end of the document.