How Nethermind Secured Royco’s V2 Deployment

Intro

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Royco is a DeFi protocol that enables users to create markets for any onchain action. Built on Ethereum, Royco’s platform allows onchain users to participate in incentive opportunities previously only available to institutions.

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Security Challenges Royco Faced

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Royco V1 launched in October 2024 and has nearly $3B of TVL, but the Royco contributors sought an audit for Royco V2, a complete rewrite with a different architecture. Key challenges included:

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• New Architecture Risks: Since V2 was a full redesign, the team needed a thorough security review to ensure robustness.
• Off-Chain Component Integration: The protocol relied on some off-chain components and an oracle for validation, introducing potential centralization risks that required careful scrutiny.

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Nethermind’s Solutions

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Nethermind Security conducted a full audit of Royco V2, addressing the following:

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• Comprehensive Review: A complete assessment of the new smart contracts, ensuring no major vulnerabilities existed.
• Findings & Remediation: Identified 2 low-severity issues and 1 informational note, all of which were addressed by the Royco team.
• Support & Communication: Provided clarifications via calls and Telegram, ensuring smooth resolution of findings.

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Results Achieved for Royco

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The audit successfully secured Royco V2 ahead of deployment:

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• Issues Resolved: All findings (2 lows, 1 info) were remediated, minimizing risks.

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Through this engagement, Nethermind Security helped Royco strengthen its protocol, ensuring a secure foundation for its incentivized action market.

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