How secure is Squads

The Squads platform is built on top of Squads Protocol — the smart account standard on Solana and the SVM, securing $10 billion across 40+ thousand smart accounts.

To ensure that it is secure, we have taken the following actions:

1. Multiple security audits;

2. Several formal verifications of the program;

3. A perpetual bug bounty program.

Squads Protocol's codebase is open-sourced (available to view here) and the programs have been written in Anchor, a framework for building secure Solana programs.

Additionally, we strongly believe that core primitives existing on open and permissionless networks should be made immutable as soon as practically possible. We are committed to making Squads Protocol programs immutable within months of public release.

• Squads Protocol v3 (powering Squads Legacy) has been immutable since February 2023 and Squads Labs nor anyone else can alter the on-chain code in any way.

• Squads Protocol v4 (powering Squads) was launched in October 2023 and it has been immutable since November 2024, unalterable by Squads Labs or any third party.