MakerDAO implements a registry which allows users to only have one CDP ID per ilk. The registry will allow having an experience similar to the original proxy actions in the Charter and Cropper proxy actions.

The most critical subjects covered in our audit are functional correctness and access control. Security regarding all the aforementioned subjects is high. The general subjects covered are gas efficiency, documentation and trustworthiness. Security regarding all the aforementioned subjects is high.

In summary, no issues were uncovered and we find that the codebase provides a high level of security.

It is important to note that security audits are time-boxed and cannot uncover all vulnerabilities. They complement but don’t replace other vital measures to secure a project.

“The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community organized and operated process of managing the various aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Resistant to hyperinflation due to its low volatility, Dai offers economic freedom and opportunity to anyone, anywhere.”

(Source: https://awesome.makerdao.com/#beginner-guides)