Aegis Staked YUSD audit
A private security review of Aegis (bitcoin-backed stablecoin), conducted with Sherlock and completed on 22nd April 2025 over 2 days. 0xSimao disclosed 3 findings: 1 high severity and 2 low.
What Aegis is
Aegis issues YUSD, a Bitcoin-backed stablecoin. Its staked layer is an ERC-4626-style vault where YUSD holders stake to earn the protocol's reward flow, with deposits, withdrawals and reward distribution mediated by the vault's share accounting.
Scope
The Sherlock review covered the staked YUSD vault: share pricing on entry, the bounds the exit path puts on what a leaver takes, reward distribution, and how donations or direct transfers into the vault move the share price for everyone else.
High severity findings
Low severity findings
- Missing
maxRedeem()implementation - Donation attack possible, although unlikely, could make an initial deposit
The report