MakerDAO Spark PSM3 Governance Audit

Governance-Controlled Liquidity Review of Spark PSM3

MakerDAO continues to evolve its liquidity tooling with Spark PSM3, a three-asset stablecoin module supporting USDC, USDS, and sUSDS swaps. The system introduces a configurable “pocket” for USDC custody and share-based liquidity accounting, enabling on-chain liquidity provisioning with DAO-controlled asset flows.

To evaluate safety and transparency, MakerDAO engaged Cantina for a security audits review focused on the Spark PSM3’s governance assumptions and accounting model. The assessment reviewed the impact of setPocket on share price calculations and validated expected behavior for role-based control over balance transfers and vault references.

Cantina also supports governance-managed liquidity layers with proactive solutions like bug bounty programs, crowdsourced security competitions, and multisig security, helping MakerDAO launch reliable, policy-aligned stablecoin infrastructure.