[Ethereum] Badger DAO - Security Rating 3

Security Rating Level: 3
Evaluation Date: Mar 31st, 2021

1. History & Team (Weight 20%; Score 72)

1.1 Project age (8%; 50)
Launched on mainnet from 2020 December, alive for 4 months
1.2 Past exploits (8%; 100)
Was never attacked
1.3 Team anonymity (2%; 100)
Team are public
1.4 Team experience in programming (2%; 20)
Unknown

2. Exposure (Weight 25%; Score 57.2)

2.1 Historical TVL (17.5%; 61)
Average market share in the past 2Q: 3.5%, 3.0%
Data collected from Badger DAO | Stats, Charts and Guide | DeFi Pulse
2.2 Industry segment (5%; 40)
Badger DAO is a yield aggregator
2.3 Infrastructure (2.5%; 65)
Oracle is needed for price feed (Chainlink), a decentralised single oracle

3. Audit (Weight 35%; Score 78)

Audit report available on: Zokyo on LinkedIn: Badger.Finance Smart Contract Audit Report and Building Defi for Bitcoin - Badger
3.1 Transparency and scope (14%; 100)
Full scope audit done, and report is public
3.2 Audit firm trust score (10.5%; 30)
Audited by Haechi and Zokyo, Tier 3 audit firm
3.3 Audit findings (10.5%; 80)
No critical issues were found in audit
3.4 Other credits (up to additive 5.25%; 5)
Core smart contracts audited by multiple firms

4. Code quality (Weight 15%; Score 40)

Repository on github: GitHub - Badger-Finance/badger-system
4.1 Documentation
No top level documentation exists but not in full details. Minimal comments
4.2 Test
Insufficient test suites

5. Developer community (Weight 5%; Score 88)

5.1 Bug bounty program (3.5%; 100)
Exists. Reward up to $500,000
5.2 Issues raised on Github (1.5%; 60)
3 issues raised on github repository

The N-SCOSS for Compound is 66.4, level 3