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Falcon Finance

USDf — Live Infrastructure Audit (Pillar 1)

June 2, 2026Ethereum · BNB · XDC
StablecoinPillar 1Roles & Power

Overview

Stabilytics reviewed the role and power distribution of Falcon Finance / USDf across 17 deployed contracts on three chains — Ethereum mainnet, BNB Smart Chain, and XDC Network — inventorying every privileged role and classifying each role-holder by address type (EOA, multisig, or contract).

This is a Live Infrastructure Audit (LIA) focused on Pillar 1 — the layer that code audits don't reach: what your roles actually empower, and who holds them on-chain.

Scope

  • Chains audited: Ethereum mainnet, BNB Smart Chain, XDC Network
  • Contracts in scope: 17 (USDf, sUSDf, staking vaults, oracles, governance, and NFTs)
  • Role types: owners, admins, upgraders, pausers, minters, burners, governance proposers/executors, fee recipients, and recovery authorities

Out of scope

  • Smart-contract code correctness (refer to Falcon's existing code audits)
  • Pillar 2 — signer-level analysis
  • Pillar 3 — third-party integration verification

How to read this report

Open the full report below for the complete role inventory, severity-ranked findings, and prioritized remediation plan — available as an interactive web page and a downloadable PDF.

Protection

Find every weak link before they do.

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