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Squads Protocol is the onchain program (smart contract) that powers Squads. The current version, V4, has ten independent security audit reports from four specialized firms. The final audited commit is the one deployed onchain, and the program has been immutable since November 2024: its authority was permanently revoked, so the audited code is exactly what runs onchain and can never be modified. Audits are one layer of the protocol’s broader security model, alongside formal verification and an immutable architecture.

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Audit timeline

V4’s audit process spanned two years across three phases: initial security review (2023), formal verification (2023), and pre-immutability validation (2024).

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About the firms

  • Trail of Bits is a security research firm that has audited projects across blockchain and traditional software, including Solana core infrastructure.
  • Neodyme specializes in Solana runtime-specific vulnerabilities including account validation, instruction processing, and cross-program invocation security.
  • OtterSec focuses on Solana program security and developed the first framework for formally verifying Solana programs.
  • Certora combines security audits with formal verification, using mathematical methods to prove correctness of critical protocol properties.
Squads Protocol V3 (launched 2022) is the legacy version, still used by some teams through a separate frontend. V3 underwent three independent audits before becoming immutable in February 2023. Reports: Bramah · OtterSec · Neodyme