SWEEP

State Street Galaxy Onchain Liquidity Sweep Fund

Issued by State Street Galaxy SWEEP feeder and master fund structure

Contract match unconfirmed
Overall risk score37.7

Smart Contract Security

70

Executive Summary

bench3.ai assessed the recorded runtime, configuration and representative execution evidence for a Solana Token-2022 mint whose metadata identifies State Street Galaxy Onchain Liquidity Sweep Fund with symbol SWEEP. The mint, transfer hook, MMF controller, ProgramData accounts, authority PDA and ExtraAccountMetaList form a coherent live graph, and Galaxy's public portal IDL strongly correlates the application family. No issuer-approved artifact was found that maps this exact graph to a specified onshore, offshore, master, feeder or share class. The deployment remains a candidate and the opinion is provisional. [E01-E06; S01-S04]

Recorded work covered Token-2022 extensions, current supply and token accounts, upgradeable-loader state, ProgramData payload identities, EAML configuration, PDA derivation, role/user accounts and representative subscription, redemption and transfer-hook traces. The exact deployed hook/controller source, mainnet IDLs and reproducible-build correspondence were unavailable, so observed guard behavior cannot be generalized to every executable branch. [E01-E04]

Provisional assessment conclusion

No reportable vulnerability was confirmed in the assessed candidate runtime and configuration. Two control observations and four material limitations are reported. The evidence supports a bounded configuration/runtime assessment, not an exhaustive mainnet source audit or an authenticated opinion on the SWEEP legal product.

ClassificationRecorded result
Confirmed vulnerabilitiesCritical 0 | High 0 | Medium 0 | Low 0
Control observations2; upgrade authority and protocol authority-PDA trust dependencies
Unconfirmed candidates0; unresolved branch completeness is reported as a scope limitation
Deployment identityVery-high-confidence publisher-correlated candidate; legal mapping unconfirmed

Material qualification

The authority PDA controlling mint, freeze, metadata and hook configuration is deterministically derived under the MMF controller, and recorded production traces place PDA signatures inside role-, attestation- or payment-bound controller workflows. This is strong negative evidence against a simple ordinary-caller path. It is not proof that every dispatcher branch reaching invoke_signed is correctly authorized because exact deployed source, the mainnet IDL and a complete control-flow reconstruction were unavailable. [E03-E04]

Market Data

Total Asset Value
$163.69M
7D Annualized Net Yield
3.42%

Overall assessment

37.7

SWEEP combines State Street investment management with Galaxy’s token infrastructure. Stablecoins and securities have separate named custody providers.

Rating details

Assessed

Asset scope

State Street Galaxy Onchain Liquidity Sweep Fund’s published fund structure

Source dates to

Underlying assets

Portfolio risk

17.2

Fund or portfolio credit quality

20

Portfolio maturity

15

Currency mismatch

10

Non-sovereign concentration

15

Five-day portfolio liquidity

15

Custodian quality

25

Custodian institution

25

Custody records and asset controls

25

Token structure

Investor protection

15

Holder claim

10

Insolvency protection

20

Backing and reconciliation

20

Fund accounting and assurance

20

Token backing reconciliation

20

Redemption and Exit

62.5

Redemption timing

100

Exit performance and suspension

25

Counterparties

Legal standing

26.5

Holder vehicle regulation

10

Service-provider permissions

65

Operating history

65

Manager and registry operating history

65

Operations

25

Service continuity

25