The most critical subjects covered in our audit are functional correctness, access control and frontrunning resistance.
Security regarding all the aforementioned subjects is high. A missing sanity check (see Rate is not validated) has been added. 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.
MakerDAO implements a governance token and an exchange contract for exchanging MKR against the new token in a predefined ratio. This audit report reviews the security and correctness of the corresponding deployment scripts.
—
“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://makerdao.com/en/whitepaper#abstract
