Formalising Decentralised Exchanges in Coq

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6 Citationer (Scopus)

Abstract

The number of attacks and accidents leading to significant losses of crypto-assets is growing. According to Chainalysis, in 2021, approx. $14 billion has been lost due to various incidents, and this number is dominated by Decentralized Finance (DeFi) applications. To address these issues, one can use a collection of tools ranging from auditing to formal methods. We use formal verification and provide the first formalisation of a DeFi contract in a foundational proof assistant capturing contract interactions. We focus on Dexter2, a decentralized, non-custodial exchange for the Tezos network similar to Uniswap on Ethereum. The Dexter implementation consists of several smart contracts. This poses unique challenges for formalisation due to the complex contract interactions. Our formalisation includes proofs of functional correctness with respect to an informal specification for the contracts involved in Dexter's implementation. Moreover, our formalisation is the first to feature proofs of safety properties of the interacting smart contracts of a decentralized exchange. We have extracted our contract from Coq into CameLIGO code, so it can be deployed on the Tezos blockchain. Uniswap and Dexter are paradigmatic for a collection of similar contracts. Our methodology thus allows us to implement and verify DeFi applications featuring similar interaction patterns.

OriginalsprogEngelsk
TitelCPP '23 : 12th ACM SIGPLAN International Conference on Certified Programs and Proofs
RedaktørerRobert Krebbers, Dmitriy Traytel, Brigitte Pientka, Steve Zdancewic
Antal sider13
UdgivelsesstedNew York
ForlagAssociation for Computing Machinery
Publikationsdatojan. 2023
Sider290-302
ISBN (Trykt)979-8-4007-0026-2
DOI
StatusUdgivet - jan. 2023
Begivenhed12th ACM SIGPLAN International Conference on Certified Programs and Proofs, CPP 2023 - Co-located with POPL 2023 - Boston, USA
Varighed: 16 jan. 202317 jan. 2023

Konference

Konference12th ACM SIGPLAN International Conference on Certified Programs and Proofs, CPP 2023 - Co-located with POPL 2023
Land/OmrådeUSA
ByBoston
Periode16/01/202317/01/2023

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