★ Single admin EOA
BlackRock USD Institutional Digital Liquidity Fund (BUIDL)'s assessment for RD-F-027 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
[PD-042 rescore 2026-05-12, v1.7.0+] Single-administrator / no-multisig design is intentional architecture for a regulator-controlled tokenized issuer (the regulator is the counterparty-discipline mechanism). However, the residual operational risk of a single deployer-key compromise concentrating large fund-token authority is real, and the factor is downgraded to yellow rather than not_applicable to keep that signal visible. Per PD-042 (Cat 2 RWA-issuer subset, residual-risk treatment). ORIGINAL EVIDENCE (preserved from v1.6.0 grading): BUIDL proxy and admin chain trace to Securitize Deployer EOA (0xd69fefe5). No public multisig disclosed. setTarget() and setOwner() callable by EOA chain with no timelock. Etherscan confirms deployer label 'Securitize: Deployer' — EOA, 2,939 txs.
Sources #
- Etherscanhttps://etherscan.io/address/0x7712c34205737192402172409a8f7ccef8aa2aecretrieved 2026-04-26
- https://etherscan.io/address/0xd69fefe5df62373dcbde3e1f9625cf334a2dae78retrieved 2026-04-26
Methodology #
Determine whether the effective upgrade/owner/rescue role is held by a single EOA (not a multisig) with no timelock on sensitive operations.
See the full factor methodology and distribution across all protocols →