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MakerDAO PSM Lite

Security Audit

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Summary

The most critical subjects covered in our audit are functional correctness, assets solvency and the correct adherence to the MakerDAO specifications. Security regarding all the aforementioned subjects is high.

The general subjects covered are access control, interaction with third party systems and the 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 PSM Lite

Maker implements a gas-efficient Peg Stability Module (PSM) where users can freely swap Dai for stablecoins.

“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#abstrac