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

ChainSecurity - Core Protocol Audit Report, December 2024

Dedaub - Core Protocol Audit Report I, August 2024

Dedaub - Core Protocol Audit Report II, November 2024

Certora - Formal Verification, December 2024

Coinspect - Bold Core Smart Contract Audit, December 2024

Coinspect - Bold Governance Audit, January 2025

ChainSecurity -Governance Smart Contract Audit, January 2025

Dedaub - Governance Audit 1, August 2024

Dedaub - Governance Audit 2, November 2024

Dedaub - Governance Audit 3, January 2025

Recon - Liquity Security 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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Felix Audit by Dedaub.pdf

pdf

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