Summary
The most critical subjects covered in our audit are functional correctness, access control and integration with the core protocol. Security regarding all the aforementioned subjects is high.
The general subjects covered are testing and documentation. Security regarding all the aforementioned subjects is high. However, testing could be improved to test the ability to repay and to top-up.
In summary, we find that the codebase provides a good 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 kill switch
Sparklend implements a switch allowing arbitrary addresses to disable borrowing in case of a depeg of a pegged asset.
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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.”