88295 sc low maxmint overstates the mintable amount and mint maxmint x x can revert erc 4626 conformance break near the deposit cap

Submitted on Aug 12th 2026 at 16:43:51 UTC by @Oxb4b for Audit Comp | Firelight

Report ID: #88295
Report Type: Smart Contract
Report severity: Low
Target: https://github.com/immunefi-team/audit-comp-firelight/blob/v1\\_audit\\_ready/contracts/core/FirelightVault.sol
Impacts:
- Griefing (e.g. no profit motive for an attacker, but damage to the users or the protocol)

Description

Brief/Intro

FirelightVault.sol exposes ERC-4626-style maxDeposit() and maxMint() bounds, but maxMint() is not round-trip safe with mint(). In certain valid vault states, maxMint(receiver) returns a share amount that mint(maxMint(receiver), receiver) rejects with DepositLimitExceeded(). This is a spec conformance issue and an integration nuisance, not a fund-loss bug.

Vulnerability Details

maxMint() is implemented by converting the asset deposit limit to shares with floor rounding and subtracting current supply:

sharesLimit = convertToShares(depositLimit)
return sharesLimit - totalSupply()

mint() uses a different path:

it converts requested shares back to assets with ceil rounding via _previewTotals(..., Math.Rounding.Ceil)
_depositFunds() then enforces totalAssets() + assets <= depositLimit

Because the bound is computed with floor rounding in one direction and mint execution uses ceil rounding in the opposite direction, the result can be off by 1 asset unit. That is enough to make mint(maxMint(x), x) revert even though maxMint() claimed the call was valid.

A concrete counterexample exists with _decimalsOffset() == 0:

totalAssets() = 4
totalSupply() = 3
depositLimit = 10

Then:

maxMint() computes sharesLimit = floor(10 × (3+1) / (4+1)) = floor(40/5) = 8, so it returns 5
mint(5) computes assets = ceil(5 × (4+1) / (3+1)) = ceil(25/4) = 7
_depositFunds() sees 4 + 7 = 11 > 10 and reverts with DepositLimitExceeded()

A related dust-edge case exists for maxDeposit(): it returns the remaining asset headroom, but if that headroom floors to zero shares, deposit(maxDeposit(...)) reverts on the intentional zero-share guard with InvalidAmount().

ERC‑4626 requires that maxMint/maxDeposit “MUST NOT be higher than the actual maximum that would be accepted (it should underestimate if necessary).” In the current implementation, mint(maxMint(receiver), receiver) and deposit(maxDeposit(receiver), receiver) can revert due to rounding‑induced overstatement, violating this requirement.

Impact and Likelihood Details

This does not steal funds or corrupt accounting. The vault fails closed before taking assets, so the impact is limited to:

broken ERC-4626 conformance
failed integrations for routers, zappers, aggregators, and vault-of-vaults that rely on the canonical mint(maxMint(...)) / deposit(maxDeposit(...)) pattern
wasted gas on reverted transactions
This creates a griefing surface: repeated reverts and wasted gas can occur for integrators and users that rely on mint(maxMint(...)) / deposit(maxDeposit(...)) when the vault is near its cap, even without any attacker activity.

Likelihood is medium as a nuisance. The state is realistic because the vault’s asset/share ratio changes through ordinary deposits, rewards, and payout-related asset movements. It is not a governance bug and does not require malicious use of privileged roles.

References

FirelightVault.sol maxDeposit() and maxMint() implementation
FirelightVault.sol mint() and _depositFunds() implementation
FirelightVault.sol deposit() zero-share guard
scope.md in-scope categories for Low / Medium griefing / theft of gas
ERC-4626 standard requirements for maxDeposit / maxMint not to overstate the safe amount

Proof of Concept

add the below testcase to the existing test file test/deposit_and_withdraw.js and run

describe('[LOW-05] maxMint()/maxDeposit() overstate what mint()/deposit() accept', function () {
  const DECIMALS = 6,
    ONE_TOKEN = ethers.parseUnits('1', DECIMALS),
    DEPOSIT_LIMIT = ethers.parseUnits('50000', DECIMALS),
    SEED_DEPOSIT = ethers.parseUnits('1000', DECIMALS),
    SWEEP_TOKENS = 120

  const stakedVaultFixture = async () => {
    const ctx = await deployVault({ decimals: DECIMALS, initial_deposit_limit: DEPOSIT_LIMIT })
    const { firelight_vault, token_contract, deployer, users, utils } = ctx

    await utils.mintAndApprove(SEED_DEPOSIT, users[0])
    await firelight_vault.connect(users[0]).deposit(SEED_DEPOSIT, users[0].address)

    const Distributor = await ethers.getContractFactory('VaultRewardDistributor')
    const distributor = await upgrades.deployProxy(Distributor, [
      firelight_vault.target, deployer.address, deployer.address, ethers.ZeroAddress
    ])
    await firelight_vault.connect(deployer)
      .grantRole(await firelight_vault.CHECKPOINT_ROLE(), distributor.target)

    await token_contract.mintTo(deployer.address, ONE_TOKEN * BigInt(SWEEP_TOKENS))
    await token_contract.connect(deployer).approve(distributor.target, ONE_TOKEN * BigInt(SWEEP_TOKENS))
    await utils.mintAndApprove(DEPOSIT_LIMIT, users[1])

    ctx.distributor = distributor
    ctx.accruePremium = async (amount) => distributor.connect(deployer).distributeRewards(
      amount, token_contract.target, amount, (await time.latest())
    )
    return ctx
  }

  it('mint(maxMint(u), u) reverts at states discovered by ordinary premium accrual', async () => {
    const { firelight_vault, users, accruePremium } = await loadFixture(stakedVaultFixture)
    const integrator = users[1]
    const violations = []

    for (let i = 1; i <= SWEEP_TOKENS; i++) {
      await accruePremium(ONE_TOKEN)

      const total_assets = await firelight_vault.totalAssets(),
        max_mint = await firelight_vault.maxMint(integrator.address),
        max_deposit = await firelight_vault.maxDeposit(integrator.address),
        mint_cost = await firelight_vault.previewMint(max_mint)

      if (total_assets + mint_cost <= DEPOSIT_LIMIT) {
        expect(max_mint).to.equal(await firelight_vault.previewDeposit(max_deposit))
        continue
      }

      violations.push(i)

      await expect(firelight_vault.connect(integrator).mint(max_mint, integrator.address))
        .to.be.revertedWithCustomError(firelight_vault, 'DepositLimitExceeded')

      expect(max_mint).to.equal((await firelight_vault.previewDeposit(max_deposit)) + 1n)

      const snapshot = await takeSnapshot()
      await expect(firelight_vault.connect(integrator).mint(max_mint - 1n, integrator.address))
        .to.emit(firelight_vault, 'Deposit')
      await snapshot.restore()
    }

    expect(violations.length).to.be.greaterThan(0)
    expect(violations[0]).to.equal(26)
  })

  it('reproduces the first violating state with exact figures', async () => {
    const { firelight_vault, users, accruePremium } = await loadFixture(stakedVaultFixture)
    const integrator = users[1]

    await accruePremium(ONE_TOKEN * 26n)

    const TOTAL_SUPPLY = 1_000_000_000n,
      TOTAL_ASSETS = 1_026_000_000n
    expect(await firelight_vault.totalSupply()).to.equal(TOTAL_SUPPLY)
    expect(await firelight_vault.totalAssets()).to.equal(TOTAL_ASSETS)
    expect(await firelight_vault.depositLimit()).to.equal(DEPOSIT_LIMIT)

    const max_mint = await firelight_vault.maxMint(integrator.address)
    expect(max_mint).to.equal(47_732_943_471n)

    const assets_needed = await firelight_vault.previewMint(max_mint)
    expect(assets_needed).to.equal(48_974_000_001n)
    expect(TOTAL_ASSETS + assets_needed).to.equal(DEPOSIT_LIMIT + 1n)

    const max_deposit = await firelight_vault.maxDeposit(integrator.address)
    expect(max_deposit).to.equal(48_974_000_000n)
    expect(TOTAL_ASSETS + max_deposit).to.equal(DEPOSIT_LIMIT)
    expect(await firelight_vault.previewDeposit(max_deposit)).to.equal(max_mint - 1n)

    await expect(firelight_vault.connect(integrator).mint(max_mint, integrator.address))
      .to.be.revertedWithCustomError(firelight_vault, 'DepositLimitExceeded')

    await expect(firelight_vault.connect(integrator).mint(max_mint - 1n, integrator.address))
      .to.emit(firelight_vault, 'Deposit')
      .withArgs(integrator.address, integrator.address, 48_973_999_999n, max_mint - 1n)

    expect(await firelight_vault.balanceOf(integrator.address)).to.equal(max_mint - 1n)
    expect(await firelight_vault.totalAssets()).to.equal(DEPOSIT_LIMIT - 1n)
  })

  it('maxDeposit(receiver) returns dust that deposit() then rejects as zero shares', async () => {
    const { firelight_vault, users, accruePremium } = await loadFixture(stakedVaultFixture)
    const integrator = users[1]

    await accruePremium(ONE_TOKEN * 26n)

    const fill_shares = await firelight_vault.previewDeposit(await firelight_vault.maxDeposit(integrator.address))
    await firelight_vault.connect(integrator).mint(fill_shares, integrator.address)
    expect(await firelight_vault.totalAssets()).to.equal(DEPOSIT_LIMIT - 1n)
    expect(await firelight_vault.totalSupply()).to.equal(48_732_943_470n)

    const max_deposit = await firelight_vault.maxDeposit(integrator.address)
    expect(max_deposit).to.equal(1n)
    expect(await firelight_vault.previewDeposit(max_deposit)).to.equal(0n)
    await expect(firelight_vault.connect(integrator).deposit(max_deposit, integrator.address))
      .to.be.revertedWithCustomError(firelight_vault, 'InvalidAmount')

    const max_mint_after = await firelight_vault.maxMint(integrator.address)
    expect(max_mint_after).to.equal(1n)
    expect(await firelight_vault.previewMint(max_mint_after)).to.equal(2n)
    await expect(firelight_vault.connect(integrator).mint(max_mint_after, integrator.address))
      .to.be.revertedWithCustomError(firelight_vault, 'DepositLimitExceeded')
  })
})

Scenario 1: `mint(maxMint(...))` reverts near the cap

Bring the vault to a state where total assets and total supply are not in a clean ratio and the vault is close to depositLimit.
Call maxMint(receiver).
Submit mint(maxMint(receiver), receiver).
The call reverts with DepositLimitExceeded() even though maxMint() returned that share amount as safe.

Scenario 2: dust edge case on `maxDeposit()`

Bring the vault into a high share-price state where the remaining asset headroom is 1 wei or similarly tiny.
Call maxDeposit(receiver).
Submit deposit(maxDeposit(receiver), receiver).
The call reverts with InvalidAmount() because the deposit floors to zero shares.

Reproduction note

The included deposit_and_withdraw.js testcase demonstrates both behaviors with concrete numbers and a deterministic state progression. It does not invent the bug; it reproduces a reachable edge state that causes the mismatch.

88295 sc low maxmint overstates the mintable amount and mint maxmint x x can revert erc 4626 conformance break near the deposit cap

Description

Brief/Intro

Vulnerability Details

Impact and Likelihood Details

References

Proof of Concept

Proof of Concept

Scenario 1: mint(maxMint(...)) reverts near the cap

Scenario 2: dust edge case on maxDeposit()

Reproduction note

Scenario 1: `mint(maxMint(...))` reverts near the cap

Scenario 2: dust edge case on `maxDeposit()`