★ Low-threshold multisig vs TVL
Frax Finance's assessment for RD-F-028 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
3-of-5 at $298M TVL is at the lower bound of peer norm for this TVL tier (peers like Aave/Compound use 5-of-9 or 4-of-6). All 5 signers are reportedly core Frax team members — one organizational cluster with no demonstrated signer independence or hardware-wallet attestation. Signer identities: 0x6933BCC3, 0xcbc616D5, 0x17e06ce6, 0xc8dE9f45, 0x6e74053a.
Sources #
- Internal00-data-cache.json safe_multisigsdata-cache safe_multisigs[0].threshold=3, owners list of 5 addressesretrieved 2026-05-16
- Pegkeeper Onboarding Review: Frax frxUSD | Llama RiskLlamaRisk: five signers publicly identified on-chain, though individual roles or affiliations not disclosedretrieved 2026-05-17
- Risk Assessment: Frax Governance | Blockworks ResearchBlockworks Frax governance risk assessment: team members are Sam Kazemian, Travis Moore, Jason Huan, Justin Moore — all doxed core teamretrieved 2026-05-17
Methodology #
Determine whether the multisig threshold is abnormally low relative to TVL peer cohort (e.g., 2-of-3 for a protocol with >$100M TVL where peer norm is 5-of-8).
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol frax factor RD-F-028 score yellow collected_at 2026-05-16 20:44:31