Thunder Loan

A flash loan protocol based on Aave and Compound.

You can learn more about how Aave works at a high level from this video.

• Thunder Loan
• About
• Getting Started
  • Requirements
  • Quickstart
• Usage
  • Testing
    • Test Coverage
• Audit Scope Details
  • Roles
  • Known Issues

About

The ⚡️ThunderLoan⚡️ protocol is meant to do the following:

1. Give users a way to create flash loans
2. Give liquidity providers a way to earn money off their capital

Liquidity providers can deposit assets into ThunderLoan and be given AssetTokens in return. These AssetTokens gain interest over time depending on how often people take out flash loans!

What is a flash loan?

A flash loan is a loan that exists for exactly 1 transaction. A user can borrow any amount of assets from the protocol as long as they pay it back in the same transaction. If they don't pay it back, the transaction reverts and the loan is cancelled.

Users additionally have to pay a small fee to the protocol depending on how much money they borrow. To calculate the fee, we're using the famous on-chain TSwap price oracle.

We are planning to upgrade from the current ThunderLoan contract to the ThunderLoanUpgraded contract. Please include this upgrade in scope of a security review.

Getting Started

Requirements

• git
  • You'll know you did it right if you can run git --version and you see a response like git version x.x.x
• foundry
  • You'll know you did it right if you can run forge --version and you see a response like forge 0.2.0 (816e00b 2023-03-16T00:05:26.396218Z)

Quickstart

git clone https://github.com/Cyfrin/6-thunder-loan-audit
cd 6-thunder-loan-audit
make 

Usage

Testing

forge test

Test Coverage

forge coverage

and for coverage based testing:

forge coverage --report debug

Audit Scope Details

• Commit Hash: 8803f851f6b37e99eab2e94b4690c8b70e26b3f6
• In Scope:

#-- interfaces
|   #-- IFlashLoanReceiver.sol
|   #-- IPoolFactory.sol
|   #-- ITSwapPool.sol
|   #-- IThunderLoan.sol
#-- protocol
|   #-- AssetToken.sol
|   #-- OracleUpgradeable.sol
|   #-- ThunderLoan.sol
#-- upgradedProtocol
    #-- ThunderLoanUpgraded.sol

• Solc Version: 0.8.20
• Chain(s) to deploy contract to: Ethereum
• ERC20s:
  • USDC
  • DAI
  • LINK
  • WETH

Roles

• Owner: The owner of the protocol who has the power to upgrade the implementation.
• Liquidity Provider: A user who deposits assets into the protocol to earn interest.
• User: A user who takes out flash loans from the protocol.

Known Issues

• We are aware that getCalculatedFee can result in 0 fees for very small flash loans. We are OK with that. There is some small rounding errors when it comes to low fees
• We are aware that the first depositor gets an unfair advantage in assetToken distribution. We will be making a large initial deposit to mitigate this, and this is a known issue
• We are aware that "weird" ERC20s break the protocol, including fee-on-transfer, rebasing, and ERC-777 tokens. The owner will vet any additional tokens before adding them to the protocol.