Security and important contract addresses

General
1

I understand that seamless is a fork of AAVE but what are the security measures for the protocol? Is there a multisig that has supreme control over funds and upgrades? If so what’s the process?

I also recently saw that new assets were added to the lending protocol via snap shot. Is there a paper trail of every governance on chain action? Via time lock it seems?

I think having these guardrails in place and transparent communication is important. Id like to put more money into lending but don’t feel confident in the lack of transparency.

Also your discord links are broken - can’t seem to join even after waiting multiple minutes…

And lastly for my own sanity, the audit didn’t seem to highlight any diffs between the seamless code vs the aave code; would be great to see these highlighted via diff in GitHub or a better diff checker than two commit hashes, some of which pointed to code that didn’t exist.

Apologies if this is a bit of a rant, I do want seamless to succeed but lately haven’t seen much to give me confidence to use it more…

Especially with undercollateralized borrowing…which seems very risky. Has any protocol done this correctly? If the protocol today exists as a 100% copy of aave 3, the risk seems to be multisig / admin auth. If it is modified those new modifications like the under collateralized borrowing could be a serious attack vector that needs to be bullet proof tested and audited and then retested before productionizing. Otherwise could jeopardize the funds on chain.

2

Hi Acevity - where did you try to click through for discord that you saw the links are broken? Let any community members know and that can be quickly fixed.

All governance activities follow a strict ONCHAIN process, which requires communtiy onchain voting, quorum and a timelocked execution - this follows best practices as outlined by Compound finance’s pioneering governance structure.

You can read about the details of governance here and also view a historical record of proposals that were discussed and passed.

The table of governance proposals is periodically updated by community contributors

3

As far as transparent comminications - all governance discussions happen in the open here in Discourse + discord/telegram community channels.

Since this post is from ~2 months ago, am curious to hear any updated thoughts or feedback on the GitHub. ILMs were launched just last week (read about it here), which were audited by Certora.

ILMs are the first foray into less-collateral or collateral efficient borrowing. An introduction to these ILM concepts can be found here, otherwise, the other lending pool markets are not under-collateralized borrowing enabled.