EquitX engaged Runtime Verification Inc. to perform a security audit of its smart contracts. The audit was conducted between October 13 and November 17, 2025. The objective was to assess the correctness and security of the EquitX on-chain implementation, identify vulnerabilities or design inconsistencies, and provide actionable recommendations to strengthen the protocol ahead of mainnet deployment.

EquitX enables the creation, management, and exchange of xAssets—synthetic on-chainrepresentations of real-world equities. Users can deposit collateral, mint xAssets, trade them, manage collateralized debt positions (cDPs), participate in stability pools, and access real-time analytics directlyfrom their wallet. The protocol aims to make traditionally inaccessible financial instruments globally available through a decentralized, transparent, and fully on-chain model.

The audit consisted of a manual code review of the smart contract codebase. No fuzzing, formalverification, or backend review was included in the scope of this engagement. Runtime Verification’s analysis focused on contract logic, authorization flows, invariant correctness, token handling, collateralization mechanics, and other components critical to the safety of user positions and protocol funds.

Overall, code quality was strong, with clear structure, consistent patterns, and readable implementation. During the course of the engagement, the EquitX team responded promptly to all reported issues, andremediated them in a timely and effective manner. The fixes applied by the team generallydemonstrated a solid understanding of the underlying risks and resulted in meaningful improvements tothe protocol’s safety.