Beedle - Oracle free perpetual lending

Summary

Having a single EOA as the only owner of contracts is a large centralization risk and a single point of failure. A single private key may be taken in a hack, or the sole holder of the key may become unable to retrieve the key when necessary. Consider changing to a multi-signature setup, or having a role-based authorization model.

Vulnerability Details

Tools Used

Manuel Code Review

Recommendations

Here are some indicative, actionable suggestions that can also reduce potential risk to a different level, short-term, long-term, and permanently:

Short term:
The combination of Time lock and Multi-sign (2⁄3, 3⁄5) alleviates by delaying sensitive operation and avoiding a single point of key management error.
Reasonably delayed time lock for awareness of privileged transactions, eg 48 hours;
Assigning privileged roles to multi-signature wallets to avoid a single point of failure due to the private key being compromised;

A media/blog link to share the time-bound agreement and multi-signers address information with a general audience.

Long-term:
Timelock and DAO mitigate by implementing combination, decentralization and transparency. Reasonably delayed time lock for awareness of privileged transactions, eg 48 hours;

Introducing a DAO/governance/voting module to increase transparency and user engagement;

A media/blog link to share the time-locked contract, multi-signer addresses, and DAO information with a general audience.

Permanent:

Giving up ownership or removing the function can be considered completely resolved. Give up ownership and never reclaim privileged roles;
or
Remove risky functionality.