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MakerDAO SparkLend Advanced

Security Audit

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Summary

The most critical subjects covered in our audit are functional correctness and precision of arithmetic operations. Security regarding all the aforementioned subjects is high. After the intermediate report all issues have been resolved.

The general subjects covered are specification, gas efficiency, and trustworthiness. 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 SparkLend Advanced

MakerDAO implements two new price oracles that can be used within the SparkLend protocol, one has a fixed price and the other has a capped price. In the extended scope, two interest rate strategies have been added. One sets the base rate using a rate source, while the other targets a specific rate at optimal utilization.

“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