# Smart Contract Audits

## Liquity V2 Audits

The Liquity V2 codebase, which serves as the foundation of the Felix protocol CDP system, has been through several audit rounds by different auditing companies, such as audited by Dedaub, ChainSecurity, Recon, Coinspect and Three Sigma; furthermore, the codebase has been formally verified by Certora. 

#### Audit reports <a href="#audit-reports" id="audit-reports"></a>

[ChainSecurity - Core Protocol Audit Report](https://www.chainsecurity.com/security-audit/liquity-bold-smart-contracts), December 2024

[Dedaub - Core Protocol Audit Report I](https://dedaub.com/audits/liquity/liquity-v2-aug-28-2024/), August 2024

[Dedaub - Core Protocol Audit Report II](https://dedaub.com/audits/liquity/liquity-v2-second-audit-nov-11-2024/), November 2024

[Certora - Formal Verification](https://certora.cdn.prismic.io/certora/Z1tLJJbqstJ98b8J_LiquityVerificationReport.pdf), December 2024

[Coinspect - Bold Core Smart Contract Audit](https://www.coinspect.com/doc/Coinspect%20-%20Smart%20Contract%20Audit%20-%20Liquity%20-%20Bold%20-%20v241231.pdf), December 2024

[Coinspect - Bold Governance Audit](https://www.coinspect.com/doc/Coinspect%20-%20Smart%20Contract%20Audit%20-%20Liquity%20-%20Bold%20Governance%20-%20v250120.pdf), January 2025

[ChainSecurity -Governance Smart Contract Audit](https://www.chainsecurity.com/security-audit/liquity-v2-governance), January 2025

[Dedaub - Governance Audit 1](https://dedaub.com/audits/liquity/liquity-v2-governance-1st-audit-aug-12-2024/), August 2024

[Dedaub - Governance Audit 2](https://dedaub.com/audits/liquity/liquity-v2-governance-2nd-audit-nov-11-2024/), November 2024

[Dedaub - Governance Audit 3](https://dedaub.com/audits/liquity/liquity-v2-governance-3rd-audit-dec-22-2024/), January 2025

[Recon - Liquity Security Review](https://github.com/GalloDaSballo/bold-review), October 2024

## Felix Audits

The Felix codebase has primarily changed 3 components to the Liquity V2 codebase:

* **Added mint caps:** Used to control leverage in the system
* **Enabled trove parameter adjustments by admin:** Used primarily to adjust mint caps
* **Enabled protocol pausing by admin:** Used to pause the system in the scenario of long-tail risk scenarios

These changes are actively being audited by Dedaub and Coinspect. These two audits are listed below.

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All Felix protocol smart contracts will retain upgradability upon deployment. Any future changes prior to the removal of admin privileges will undergo further auditing.
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