★ Low-threshold multisig vs TVL
Usual (USD0 / bUSD0 / USUAL)'s assessment for RD-F-028 — scored red on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
CRITICAL: ProxyAdmin Safe threshold is unknown (not in data cache; 27 lifetime txs). No timelock exists (timelock_address: null). At $104.77M TVL, a multisig with unknown threshold and NO timelock is insufficient. The lowest treasury Safe is 3/7. Whether the upgrade-authority Safe is similarly low-threshold is unverifiable from public data — assessed red on structural opacity combined with confirmed absence of timelock protection.
Sources #
- InternalUsual data cache — timelock null; ProxyAdmin threshold gap00-data-cache.json: governance.timelock_address = null; ProxyAdmin Safe not in safe_multisigs enumeration (only 3 treasury Safes captured)retrieved 2026-05-17
- ProxyAdmin Safe — Etherscan (threshold unknown)0xaaDa24358620d4638a2eE8788244c6F4b197Ca16 — Safe confirmed, 27 total transactions; threshold not surfacedretrieved 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 →