# Nerite: Case Study 1 review · 1 report · 3 findings > “0xSimao is an absolute pro who really went above and beyond during our audit. It can be hard to find auditors like Simao who have such a high degree of integrity that they are willing to spend time verifying reported issues have been addressed correctly. Others just move on to the next project, but Simao was with us every step of the way. I cant recommend Simao enough, and we will definitely try to work with him in the future.” **What it is.** Nerite is a CDP stablecoin on Arbitrum, built on Liquity v2 and paying its interest out as a Superfluid stream. **What was reviewed.** One private review with Sherlock, February 2025, over the changes made to the Liquity base and the streaming integration on top of it. ## What was found 3 findings, 1 of them medium severity. ## Featured finding Nerite’s stablecoin does its own wiring in a transaction after deployment rather than in the constructor. Anyone watching the chain could call that step first, in the gap between the two, and mint the token to themselves. [See the whole finding](https://0xsimao.com/findings/nerite-initialization-frontrun-mint-approve) ## Engagement history | Date | Kind | With | Findings | Report | |---|---|---|---|---| | 2025-02-03 | Private review | Sherlock | [3](https://0xsimao.com/findings#nerite-2025-02-03) | [report](https://github.com/0xsimao/audits/blob/main/Sherlock/private-audits/2025-02-03-nerite.pdf) |