Audits

Smart Contract safety and security is paramount to us. Therefore we we ensure that every public release has been vetted thoroughly by reputable Smart Contract auditors.

Security is Our Top Priority

Smart contract risk is highly prevalent among DeFi protocols. One of Usual’s top priorities is to mitigate and reduce the potential risk from the underlying Usual smart contracts by conducting in-depth audits aimed at identifying potential vulnerabilities, logical errors, or inefficiencies and further by conducting continuous security monitoring of the smart contracts. The audits are conducted by leading industry experts and will be used to enhance trust through proper risk and security management on the smart contracts. Please find below the chronological overview of our completed audits.

May 2024

Auditor

Cantina

• Lead Security Researcher: xmxanuel

• Security Researcher: deadroses

• Associate Security Researcher: jonatas

Scope

• Codebase Simplification: Replacing the "mint engine" with the "swap engine"

• Cantina Managed Audit Phase 1: Permissioned launch smart contracts audit

• Cantina Managed Audit Phase 2: Permissionless launch smart contracts audit

545KB

Pegasus permissioned launch - Security Review by Cantina.pdf

Open

Spearbit Cantina Report for Permissionless launch

527KB

Usual Pegasus - Security Review by Cantina.pdf

Open

Spearbit Cantina Report for Permissionless launch

June 2024

Auditor

Cantina

Scope

• Public security competition managed by Cantina on the same scope that audited in May 2024

• Link: Public Competition & Bug Bounty Program

502KB

Pegasus Competition by Cantina.pdf

Open

Pegasus Audit Competition run by Cantina

October 2024

Auditor

Paladin

Scope

• L2 Token contracts

• OFT MintAndBurnAdapter

• L1 OFT Adapter

• Link: L2 Tokens & Adapter Audit

641KB

L2 Tokens Audit by Paladin.pdf

PDF

Open

L2 Token Audit conducted by Paladin

November 2024

Auditors

Cantina

• Lead Security Researcher: deadroses

• Lead Security Researcher: xmxanuel

• Security Researcher: Phaze

• Associate Security Researcher: Chinmay Farkya

Halborn

Sherlock (public audit competition)

Scope

V1 contract upgrades & additions covering:

• bUSD0 (formerly USD0++)

• DAO Collateral

• SwapperEngine

• USUAL

• USUALS

• USUALSP

• USUAL distribution

• USUAL Airdrop

• USUALx

548KB

Spearbit Cantina Report for Usual Pegasus Phase 1.pdf

PDF

Open

Spearbit Cantina Report for Usual Pegasus Phase 1

638KB

Spearbit Cantina Report for Usual Pegasus Phase 2.pdf

PDF

Open

2MB

Halborn Usual V1 Audit.pdf

PDF

Open

Halborn Usual V1

948KB

Sherlock - Usual V1 Audit Competition Report.pdf

PDF

Open

Sherlock - Usual V1 Audit Competition Report.pdf

December 2024

Auditors

Blackthorne

Cantina

Scope

• WrappedM aka UsualM

• bUSD0 (formerly USD0++) unwrap with Cap for vault strategies

• USUALx

665KB

Blackthorn Audit Report - WrappedM.pdf

PDF

Open

Blackthorn Audit Report - WrappedM

501KB

Spearbit Cantina Report for UsualM extension.pdf

PDF

Open

Spearbit Cantina Report for UsualM extension

562KB

Spearbit Cantina Report for USD0pp adjustments .pdf

PDF

Open

Spearbit Cantina Report for USD0pp adjustments

January 2025

Auditors

Spearbit

Scope

• Claim Redirect

• Fee sweep via DistributionModule

• USUALx adjustment for fee sweep

• bUSD0 (formerly USD0++) adjustment for fee sweep

570KB

Spearbit - Audit Report on Redirect & Fee Sweep.pdf

PDF

Open

Spearbit - Audit Report on Redirect & Fee Sweep

February 2025

Auditors

Sherlock Spearbit

Scope

• Euler USL vault and oracle

• Usual USL Economic Risk Assessment

• UsualUSDtb

• Yield Module

942KB

Sherlock - Audit Report on Euler.pdf

PDF

Open

Sherlock - Audit Report on USL on Euler

566KB

Spearbit - Audit Report on USL on Euler.pdf

PDF

Open

Spearbit - Audit Report on USL on Euler

1MB

OAK Security - Usual USL Economic Risk Assessment.pdf

PDF

Open

OAK Security - Usual USL Economic Risk Assessment

901KB

Sherlock - Audit Report on UsualUSDtB.pdf

PDF

Open

Sherlock - Audit Report on UsualUSDtb

612KB

Spearbit - Audit Report on Yield Module.pdf

PDF

Open

Spearbit - Audit Report on Yield Module

For more detailed information on our security measures or to report a potential vulnerability, please contact our security team at [email protected].

March 2025

Auditors

Sherlock Spearbit

Scope

• Usual bUSD0 (formerly USD0++) Investment Vault

• Coherent Audit competition on overall protocol

581KB

Spearbit - Usual USD0++ Investment Vault.pdf

PDF

Open

Spearbit - Usual bUSD0 (formerly USD0++) Investment Vault

877KB

Sherlock - Usual Labs Public Audit Contest.pdf

PDF

Open

Sherlock - Usual Labs Public Audit Contest

6MB

Halborn - USD0++ Investment vault.pdf

PDF

Open

Halborn - bUSD0 (formerly USD0++) Investment vault

May 2025

Auditors

Hexens

Halborn

Sherlock Spearbit

Scope

• ETH0 Protocol

• ETH0 Zapper Contract

• USUALX Lockup Contract

572KB

Spearbit - Audit report on ETH0.pdf

PDF

Open

918KB

Sherlock - Audit report on on ETH0 Zapper contract.pdf

PDF

Open

Sherlock - Audit report on ETH0 Zapper contract

3MB

Hexens - Audit report on UsualXLockup.pdf

PDF

Open

Hexens - Audit report on UsualX Lockup Contract

10MB

Halborn - Audit report on UsualXLockup.pdf

PDF

Open

Halborn - Audit report on UsualX Lockup Contract

July 2025

Auditors

Sherlock

Spearbit

Scope

• bUSD0 (formerly USD0++) Upgrade (Updating Burn Redemption Mechanism)

• Sync Vault remediation

• Usual USDC

877KB

Sherlock- Audit report on USD0++ upgrade (Burn Redemption Mechanism).pdf

PDF

Open

Sherlock - Audit report on bUSD0 (formerly USD0++) upgrade (Burn Redemption Mechanism)

594KB

Spearbit - Audit report on Sync Vault remediation.pdf

PDF

Open

497KB

Spearbit - Audit report on Usual USDC.pdf

PDF

Open

October 2025

Auditors

Sherlock

Scope

• EUR0

1017KB

Sherlock - EUR0 Protocol Audit.pdf

PDF

Open

November 2025

Auditors

Hexens

Halborn

Sherlock

Scope

• sUSD0

• sEUR0

• RDM (Revenue Distribution Module)

• USD0a Protocol

• bUSD0 (formerly USD0++) Upgrade

3MB

Hexens - sUSD0 Protocol Audit.pdf

PDF

Open

10MB

Halborn - sUSD0-SEUR0-RDM Audit.pdf

PDF

Open

4MB

Hexens - USD0a Protocol Audit.pdf

PDF

Open

1MB

Sherlock - USD0a Protocol Audit.pdf

PDF

Open

912KB

Sherlock - bUSD0 Upgrade Audit.pdf

PDF

Open

4MB

Hexens - bUSD0 Upgrade Audit.pdf

PDF

Open