MakerDAO Smart Contract Safety - When Billions are at Stake
summary
MakerDAO lays out a defense-in-depth stack: formal verification with K framework and ACT and newer Sartura workflows plus fuzzing, RPC simulation against forked mainnet, Foundry integrations, and agent-based economic modeling with Gauntlet. Audits run on retainer (ChainSecurity), Immunefi bounties find issues pre-launch (four critical/high for multicolateral DAI), and launch follows gradual risk exposure. Emergency controls include one-hour delayed prices, instant-access modules, and a create2-based dark spell pre-committed upgrade path; prefer WETH over raw ETH to reduce reentrancy attack surface.
AI-written summary · about
chapters (13)
- 0:00Intro
- 2:15Principles
- 4:10Code Changes
- 4:50Testing
- 6:05Formal Verification
- 7:30MCAD
- 9:40Economic Modeling
- 10:30Auditing
- 11:10Bug Bounty
- 11:55Handling Production Issues
- 15:05Best Practices
- 16:20Risk Exposure
- 16:50Minimize external dependencies
related talks
12mSmart Contract Security
25mCommSec D2 - Smart Contract (In)Security
51mA Deal with the Devil: Breaking Smart Contracts
21mThe Centralized Risk of DeFi
18mDAOnizing Web3 Security
01h 17mProof-Carrying Code For the Age of AI: Machine-Checked Guarantees from(…)
22mA Multi-Layer Dynamic Security Framework for DeFi Smart Contracts
15mWhy Smart Contract Audit is Not Enough