Summary
The most critical subject covered in our audit is functional correctness. After the intermediate report, all findings have been resolved, hence security regarding functional correctness is high.
The general subjects covered are trustworthiness and documentation. Security regarding all the aforementioned subjects is high.
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 DSS Emergency Spells
MakerDAO implements DssEmergencySpells, a set of pre-defined emergency spells that bypass the governance delay defined in DSPause to enable prompt governance actions if necessary.
"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.”