Securing Unich: Softstack’s Smart Contract Audit for OTC Trading

Softstack audited Unich’s OTC smart contracts on EVM & Solana, resolving security risks and optimizing efficiency. Learn how Unich improved its security in our full report.

Client

Unich

Project

OTC trading platform

Industry

Web3

Service

smart contract audit

Security is the foundation of blockchain and decentralized applications (dApps), especially in decentralized finance (DeFi), where smart contract vulnerabilities can lead to major risks.To strengthen security, softstack conducted a comprehensive smart contract audit for Unich, a decentralized OTC trading platform. The audit covered both Ethereum Virtual Machine (EVM) smart contracts and Solana programs, ensuring that Unich offers a secure, efficient, and transparent trading environment.

About Unich

Unich is a decentralized over-the-counter (OTC) trading platform, offering secure, peer-to-peer asset exchanges without intermediaries. By leveraging Web3 technology and cross-chain interoperability, Unich streamlines OTC trading across multiple markets, including:

Pre-Market OTC: Trade tokens before TGE
Point-Market OTC: Trade points before conversion
Options OTC-Market: Decentralized derivatives trading

Through interoperability and cross-chain trading, Unich is positioning itself as a leader in decentralized OTC solutions, enabling trustless and efficient transactions.

Audit Scope and Methodology

Softstack’s audit focused on evaluating the security, functionality, and efficiency of Unich’s smart contracts and Solana programs. The key areas of assessment included:

1. Security Vulnerabilities & Risk Levels

Critical Issues: Could break contract functionality and pose security threats.
High Issues: May allow unintended behaviors that compromise functionality.
Medium Issues: Affect contract behavior in specific scenarios.
Low Issues & Informational: Minor inconsistencies that could improve efficiency and clarity.

2. Code Review & Testing Approaches

Manual Line-by-Line Review to detect vulnerabilities.
Automated Security Testing using symbolic execution and test coverage analysis.
Best Practice Checks ensuring compliance with industry standards.
Attack Scenario Simulations to assess potential exploits such as reentrancy, front-running, and logic failures.

Key Findings and Resolutions

softstack’s audit of Unich’s OTC smart contracts uncovered security gaps and optimization opportunities. Here’s a summary of key findings and improvements:

1. High-Risk Issues (Fixed)

Unchecked Delegatecall in diamondCut

Issue: The function diamondCut allowed unrestricted delegatecall, enabling potential storage overwrites and ownership hijacking.
Resolution: Implemented validation to restrict initialization contracts and introduced multi-sig approval for critical upgrades.

Reinitialization Vulnerability

Issue: The initialize function lacked protection, allowing multiple reinitializations, potentially leading to fund theft.
Resolution: Applied OpenZeppelin’s initializer modifier to prevent multiple initializations.

2. Medium-Risk Issues (Fixed/Acknowledged)

Fee/Pledge Rate Inconsistency

Issue: The updateConfig function did not validate feeSettle against pledgeRate, leading to calculation errors.
Resolution: Introduced checks ensuring feeSettle remains within predefined limits.

Gas Limit Issues in Order Matching

Issue: Inefficient transaction execution caused excessive gas costs in certain scenarios.
Resolution: Optimized logic to reduce redundant storage operations and streamline execution.

3. Low & Informational Issues (Fixed)

Logical inconsistencies in owner removal process
Silent error swallowing in cost accounting logic
Naming inconsistencies in the codebase

Conclusion: Enhancing Security & Efficiency

With our rigorous auditing process, Unich has significantly fortified its smart contracts, ensuring robust security, optimized gas efficiency, and adherence to best practices. The resolved vulnerabilities and proactive security measures reinforce Unich’s position as a trustworthy and cutting-edge decentralized OTC platform.

By continuously evolving security standards and implementing best-in-class protocols, Unich remains at the forefront of secure decentralized trading.

📌 Want to explore the full audit findings? Read the full report on GitHub