DeFiScan
@defiscan
Aerodrome's DECENTRALIZATION review: STAGE 1 @aerodrome is an Automated Market Maker designed to serve as the liquidity hub for the Coinbase ecosystem. The protocol has many features: - Multiple liquidity structures like x*y=k from Uniswap V2, Stableswap from Curve, Concentrated Liquidity from Uniswap V3 - ve(3,3) incentive layer
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DeFiScan
@defiscan
⛓️Chain 🟡Aerodrome has a medium-risk score Aerodrome is deployed on Base, a Layer 2 in Stage 1 according to @l2beat. Risk Summary: - Funds can be stolen if a contract receives a malicious code upgrade. Upgrades must be approved by both the BaseMultisig1 and the OpFoundationOperationsSafe. There is no delay on upgrades. - MEV can be extracted if the operator exploits their centralized position and frontruns user transactions. These ratings may be updated if the safety of Base is reassessed.
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DeFiScan
@defiscan
🚨Upgradability 🟡Aerodrome has a medium-risk score Aerodrome’s AMM is immutable, so no potential impact on user funds. The remaining permissions are related to the protocol's rewards system and periphery contracts controlled by several multisigs, including an undeclared multisig with the following permissions:
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