Summary
The most critical subjects covered in our audit are asset solvency, functional correctness and the correct integration into the existing D3M v2 system.
The general subjects covered include compliance with ERC standards and maintaining the consistency of the codebase.
In summary, 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.
About MakerDAO - D3M ERC4626
MakerDAO has implemented new components for the existing D3M v2 system: an ERC-4626 compatible pool designed for use with MetaMorpho and a plan that enables an operator to set a target asset amount.
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“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.”