Summary
The most critical subjects covered in our audit are functional correctness and access control. Security regarding all the aforementioned subjects is high. Please note that the PAXG token is upgradable. Furthermore the current implementation of the PAXG token features functionality that allows the admin to seize/freeze assets of any address.
The general subjects covered are gas efficiency and error handling. 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 – GemJoin9 for PAXG Smart Contract
MakerDAO implements a novel join adapter (GemJoin9) to be used with the PAXG token, an ERC20 token with fees on transfers.
“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.”