# Perennial V2 audit contest Sherlock · Perpetuals and derivatives · 24th July 2023 · #7 A public audit contest on Sherlock (perpetuals and derivatives), completed on 24th July 2023. 0xSimao placed #7. 2 of his findings are published: 1 high severity and 1 medium. ## What Perennial V2 is Perennial V2 is a derivatives primitive: markets define a payoff over an oracle price, takers hold long or short exposure against maker liquidity that earns funding, and keepers settle positions lazily against Pyth prices, with vaults packaging maker-side liquidity. ## Scope The market core: markets and their payoff and funding maths, vaults, the Pyth oracle bridge and the multi-invoker. ## High severity findings - [Protocol fee from Market.sol is locked](https://0xsimao.com/findings/perennial-v2-fee-market-sol-locked) ## Medium severity findings - [Drained oracle fees from market by depositing and withdrawing immediately without triggering settlement fees](https://0xsimao.com/findings/perennial-v2-oracle-fees-triggering-settlement) ## The contest [View the contest page](https://audits.sherlock.xyz/contests/106)