Scores/Notional Finance

Notional Finance

DAMASCUS

Fixed Rate Lending · Ethereum + Arbitrum · $200M+ TVL · 10 contracts

Official site: notional.finance ↗

771

3004756508251000

Confidence65%

Z-Factor0.79

Updated 2026-05-27Public score

Security Profile

Access Control
75

Economic Soundness
70

Oracle Integrity
78

Compositional Risk
68

Governance
60

Maturity
72

Resilience
50

Supply Chain
80

Op Security
46

Cascade Exposure
100

Access Ctrl
75

Economic
70

Oracle
78

Compos.
68

Govern.
60

Maturity
72

Resilience
50

Supply Ch.
80

OpSec
46

Cascade
100

Min

Avg

Max

100

Audit History

Certora (Formal)

2022-06

Sherlock Competition

2023-01

Code4rena

2022-01

Bug Bounty Program

$250,000

Max payout on Immunefi

View Program

Assessment

Specialized fixed-rate lending with unique fCash instrument. V1 issues led to proper V2 redesign (shows learning). Moderate maturity for current version. Novel economics (D2=70) and complexity are the main drags.

Dimension Breakdown

Methodology

Access Control

Weight 18% · 72% confidence

+19Lending market with admin-controlled parameters

+19fCash (fixed-rate) positions managed through protocol

+19Liquidation permissionless and well-defined

+19V2 had global settlement capability (emergency admin)

Provenance

Economic Soundness

Weight 13% · 68% confidence

+18Fixed-rate lending via fCash instrument is novel

+18Interest rate curve and settlement mechanics are complex

+18V1 had economic design issues (migrated to V2 redesign)

+18Prime lending (V3) adds variable-rate with different model

Provenance

Oracle Integrity

Weight 13% · 75% confidence

+20Chainlink oracle dependency for collateral pricing

+20fCash valuation uses internal interest rate model

+20Time-dependent valuation adds oracle timing sensitivity

+20Settlement price is critical trust point

Provenance

Battle-Tested Maturity

Weight 12% · 72% confidence

+14V1 live 2021, V2 2022, V3 (Prime) 2023

+14V1 had issues leading to redesign (good: learned and fixed)

+14~36 months for V2+, continuous evolution

+14Audited by multiple firms (Sherlock contest, Code4rena)

Provenance

Governance & Upgradeability

Weight 10% · 68% confidence

+15NOTE token governance with active proposals

+15Governance controls market parameters and listings

+15Timelock on governance actions

+15Moderate participation rate

Provenance

Adversarial Resilienceredacted

Weight 10% · 30% confidence

No validated adversarial findings — score set to neutral baseline

Provenance

Operational Security

Weight 10% · 50% confidence

-54No branch protection detected

+12No CI/CD pipeline detected

+12Minimal development activity (0 commits/month)

+12No CI pipeline for deployment verification

Provenance

Compositional Risk

Weight 5% · 70% confidence

+17fCash tokens composed in DeFi (limited adoption)

+17Leveraged vault strategy composes external protocols

+17Cross-currency lending creates composition surface

+17More bounded than general lending protocols

Provenance

Cascade Exposure

Weight 5% · 50% confidence

100

+33Member of 2 dependency cluster(s)

+33No cross-protocol cascade exposure detected

+33Source: cross_protocol_composition.json dependency analysis

Provenance

Supply Chain

Weight 4% · 78% confidence

+20OpenZeppelin dependencies

+20Standard Solidity stack

+20Verified on Etherscan

+20Moderate dependency complexity

Provenance

Top Score Drivers

Dimensions with the greatest marginal impact on BRI.

Operational Security

46+38 potential

No branch protection detected

Adversarial Resilience

50+33.8 potential

Access Control

75+25 potential

Lending market with admin-controlled parameters

Governance & Upgradeability

60+24.7 potential

NOTE token governance with active proposals

Economic Soundness

70+22.4 potential

Fixed-rate lending via fCash instrument is novel

Adversarial Risk Signals

Publicly verifiable security posture indicators.

Disclosure HistoryNot Assessed

Remediation VelocityNot Assessed

Bug Bounty ProgramNot Assessed

Audit CoverageNot Assessed

Incident HistoryNot Assessed

Deployed 2021-11-0110 dimensionsProvenance Ledger

methodology v2.1formula v1.1weights v1.1evidence sha256:sha256:f...

Score History & Verification

Score provenance tracking begins with the next reassessment.

Full provenance ledger

On-Chain Data

Protocol Slug: "notional"
Oracle: BRORegistry (Base)
Evidence: IPFS (pinned)
Staleness Threshold: 24 hours

Read Score

registry.getScore("notional")

Reduce exploitable risk

Continuous adversarial analysis, vulnerability detection, and verified reassessment.

View Plans Methodology

Embed this score

Live, updates automatically. Free for any site. Click-through links open the full report on BlackHart.

Public

Style

Theme

Format

Preview

Copy iframe code

<iframe
  src="https://blackhart.io/embed/oracle/notional?variant=card&theme=dark"
  title="BlackHart Risk Index: Notional Finance"
  width="340"
  height="290"
  frameborder="0"
  loading="lazy"
  style="border:0; max-width:100%;"
></iframe>

Believe this score contains a factual error? Submit evidence for review