★ Admin = deployer EOA after 7 days
Falcon Finance's assessment for RD-F-043 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Deployer EOA (0x804016…) is not the sole proxy admin — admin was set to the 4-of-6 Safe from genesis. However, deployer remains a permanent Safe signer with no plan for rotation. Not a solo-EOA-admin situation but structural concentration persists.
Detail #
USDf proxy constructor arg: initialOwner=0x1E482B60… (Safe, not deployer EOA). Safe created 2025-01-16 by deployer — ownership was always the Safe, never raw EOA. Factor tests admin = deployer EOA at t+7d — this is false; admin has always been the Safe. However, the deployer EOA is Safe owner[0] and retains signer status 16 months post-launch with no disclosed rotation plan. Assessed yellow for structural concentration (deployer-as-signer) rather than red (not EOA-admin).
Sources #
- EtherscanUSDf proxy — initialOwner constructor arg = Safe addresshttps://etherscan.io/token/0xFa2B947eEc368f42195f24F36d2aF29f7c24CeC2retrieved 2026-05-12
- Safe Transaction Service — Falcon Finance Admin Safehttps://api.safe.global/tx-service/eth/api/v1/safes/0x1E482B60bf19Cb1cc859389e0eA3DED153f16Bd7/retrieved 2026-05-12
Methodology #
Determine whether, at t = deploy+7d, the admin address still equals the deployer EOA with no evidence of transfer to a multisig.
See the full factor methodology and distribution across all protocols →