Summary
The most critical subjects covered in our audit are functional correctness, security of the vault's assets, and the proxy/upgradabilitiy pattern. 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 Spark Vaults
SparkDAO implements an ERC-4626 USDC Vault wrapping interactions with the PSM and SavingsUSDS allowing users to deposit USDC and earn yield from the Sky savings rate.
"Spark is on a mission to empower the DAI ecosystem. As part of the MakerDAO community, Spark builds and manages DeFi infrastructure."
ChainSecurity has been consistently thorough in their reviews, reliable and accommodating in our time working with them.
Lucas Manuel, Co-founder at Phoenix Labs, working on Spark