Summary
The most critical subjects covered in our audit are security, functional correctness and seamless integration with the existing system. 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 Sky smart contracts
Sky implements a rebranded version of the MKR token and an immutable converter with a fixed conversion rate. The converter functions by minting and burning tokens. The new governance token is ERC-20 compliant and the converter allows for permissionless conversion between MKR and SKY tokens.
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“The Sky Protocol (formely known as MakerDAO) is one of the largest dapps on the Ethereum blockchain. Designed by a disparate group of contributors, including developers within the MakerFoundation, its outside partners, and other persons and entities, it is the first decentralized finance (DeFi) application to see significant adoption.”
ChainSecurity has been an invaluable partner throughout almost two years of high-stakes product launches. We prize them for their proactivity, consistency & flexibility—we’re looking forward to continuing the partnership!
Deniz Yilmaz, Tech Lead at Sky