Three firms, twelve weeks, 89 findings. All criticals closed.
Every contract in production at v0.4.2 has been reviewed by at least two of the three firms below. Reports, commit hashes, and remediation evidence are public.
Three independent reviews
Sequential, not parallel — each engagement built on the remediation evidence of the previous one. Spearbit was the final crowd-review on the mainnet candidate.
Trail of Bits
- contracts/Vault.sol
- contracts/USDG.sol
- contracts/PythPriceAdapter.sol
- contracts/InterestRateModel.sol
Manual review of the v0.3 vault, USDG mint/burn paths, and the Pyth adapter. The critical finding (since fixed) was a missing decimals normalization in the LTV calculation that under-collateralized 8-decimal feeds by ~10⁻¹⁰.
| Severity | Found | Resolved | Ack | Status |
|---|---|---|---|---|
| Critical | 1 | 1 | 0 | ● Resolved |
| High | 3 | 3 | 0 | ● Resolved |
| Medium | 7 | 6 | 1 | ● Acknowledged |
| Low | 11 | 9 | 2 | ● Acknowledged |
| Info | 18 | 12 | 6 | ● Acknowledged |
OpenZeppelin
- contracts/Vault.sol (delta from TOB)
- contracts/SimpleAccountFactory.sol
- contracts/governance/Timelock.sol
- contracts/EOAValidator.sol
Targeted review of the EIP-7702 delegate path and the new timelock-gated governance. Two highs were about the EOAValidator accepting expired session keys; both patched before mainnet candidate cut.
| Severity | Found | Resolved | Ack | Status |
|---|---|---|---|---|
| Critical | 0 | 0 | 0 | ● Resolved |
| High | 2 | 2 | 0 | ● Resolved |
| Medium | 5 | 4 | 1 | ● Acknowledged |
| Low | 8 | 7 | 1 | ● Acknowledged |
| Info | 14 | 9 | 5 | ● Acknowledged |
Spearbit
- contracts/Vault.sol (final pass)
- contracts/Liquidator.sol
- contracts/Treasury.sol
- contracts/StablecoinAdapter.sol
Crowd review on the final v0.4.2 release candidate. The high was a rounding direction in partial-repay that, in adversarial conditions, could leave 1 wei of debt and block close-out — fixed and tested.
| Severity | Found | Resolved | Ack | Status |
|---|---|---|---|---|
| Critical | 0 | 0 | 0 | ● Resolved |
| High | 1 | 1 | 0 | ● Resolved |
| Medium | 4 | 4 | 0 | ● Resolved |
| Low | 6 | 5 | 1 | ● Acknowledged |
| Info | 9 | 6 | 3 | ● Acknowledged |
Beyond audits · the continuous layer
Audits are point-in-time. Day-to-day safety is enforced by formal proofs, fuzz suites, a live bug bounty, and Forta monitoring.
Formal verification
Solvency and HF invariants discharged in Certora Prover. Coverage: 87% of state-changing functions in Vault.sol, 100% of USDG mint/burn.
Fuzzing coverage
Echidna + Foundry invariant suites running on CI on every PR. 92.4% branch coverage on the risk-engine modules. 4.2B sequences executed cumulatively.
Bug bounty
Live on Immunefi with a max payout of $1.2M for critical impact (loss of funds / mint authorization). $4.8M paid out across 11 bounties since v0.1.
Monitoring partner
Forta agents watching for: oracle deviation > 0.5%, large withdraws (> 5% TVL/block), governance timelock queue, and unusual liquidator behavior.
Every protocol version, every review
Found something? Tell us first.
Email security@equiflow.xyz or submit via Immunefi. We commit to a 24-hour first response, a triage decision within 72 hours, and a public CVE within 90 days of the fix shipping. We do not pursue legal action against good-faith researchers.