Thread by @DefiSafety

1/9 @dYdX has well integrated itself as a leader in process quality. A high score is backed up by great real-world crisis management and all this leads us to a strong update into our records.

2/9 dYdX's public team does an excellent job at explaining their testing methodologies. Testnet deployments, perfect code coverage and scripts for users to replicate the tests themselves are all documented.

3/9 dYdX has also shown a fantastic commitment to good audits being conducted each time code is deployed. This is considerable given that they've literally launched their own L2.

4/9 They also take trader considerations into account such as front-running. Indeed, they migrated networks to significantly mitigate this issue that plagues L1 Dexes.

5/9 We'd like dYdX to more clearly indicate which contracts are controlled by governance. Change capabilities are identified, but this doesn't precisely translate to users which contracts are subject.

6/9 While there is documented proof of dYdX paying out $500K in a bug bounty, there's only documentation offering up to $50K. We'd like this to be refreshed - see the report for clarification.

7/9 All in all, dYdX has done a good job at explaining to users how their protocol functions. They've also done a good job at running tests and ensuring reproducibility.

8/9 They know their userbase well and think about different issues (such as front-running) and mitigate them. They aim high with a custom L2 so we're excited that they show such good process.

9/9 🔥 Final score: 93% 🔥 #DEX #DeFi #cryptocurrency

Full report: defisafety.com/app/pqrs/464

@AntonioMJuliano @dydxfoundation @dYdX @dYdXAmbassadors @dYdXCanada @ivo_crnkovic @evwho_ @dYdX_Intern