> For the complete documentation index, see [llms.txt](https://docs.axis.to/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.axis.to/backing-reserves-and-transparency/audits.md).

# Audit Reports

Axis publishes three independent smart contract reviews. Audit findings are useful evidence about a defined code snapshot, but an audit is not a warranty and does not cover every offchain strategy, custody, venue, operator, or legal risk.

Finding counts on this page are taken from the reports. Use the reports themselves as the authoritative source for exact scope, code revisions, severity definitions, dispositions, and auditor status.

## V2 (current)

| Auditor      | Reviewed  | Revision  | Findings                                                        |
| ------------ | --------- | --------- | --------------------------------------------------------------- |
| OpenZeppelin | July 2026 | `6db59ec` | 25 total: 0 critical, 2 high, 7 medium, 13 low, 3 informational |

{% file src="/files/ZEYGjb0RxxBSM0OMR35Z" %}

Contracts in scope:

* `USDx`
* `USDxMarket`
* `MarketConfig`
* `StakedUSDx`
* `AxisV2Ids` (shared identifier library, not an upgradeable contract)

All four in-scope V2 contracts are upgradeable behind proxies.

## V1 (legacy)

The V1 contracts are the deprecating private-beta deployment on Plasma. See [Contract Addresses](/reference/contract-addresses.md).

| Auditor    | Reviewed     | Revision  | Findings                                                       |
| ---------- | ------------ | --------- | -------------------------------------------------------------- |
| Plainshift | January 2026 | `98849c5` | 9 total: 0 critical, 0 high, 1 medium, 3 low, 5 informational  |
| Zellic     | August 2025  | `845d765` | 10 total: 2 critical, 1 high, 4 medium, 3 low, 0 informational |

{% file src="/files/tUeOu4PbMFdJW5WK9lwn" %}

{% file src="/files/TFAakujx1QC45CwRF3iV" %}

Contracts in scope:

* `AxisUSD`
* `AxisUSDMinting`
* `SingleAdminAccessControl`
* `StakedAxisUSD`
* `StakedAxisUSDV2`
* `AxisUSDSilo`
* `StakingRewardsDistributor`
* `AxisUSDRateProvider`

Confirm the scope and revision in each report before assuming a deployed contract was reviewed.

## Scope exclusions

The reviews cover defined Solidity code and revisions. Zellic explicitly excludes the front end, infrastructure, and key custody. OpenZeppelin's V2 review states that custodian solvency and physical custody, offchain operator policy and pricing, and reentrancy from non-standard tokens are out of scope, and that there is no onchain oracle: settlement trusts the operator-signed minimum output amount. No report audits strategy execution, exchange solvency, custody operations, performance reporting, or legal structure.

## What not to infer

These reports should not be summarized as "no outstanding critical or high findings" without reconciling the base revisions, remediation commits, deployed bytecode, and the dispositions recorded in each report.

For the V1 contracts, immutable or non-upgradeable characteristics can reduce one category of upgrade risk, but they do not remove privileged-role, configuration, operator, custody, strategy, or deployment risk. The V2 contracts reviewed by OpenZeppelin are upgradeable behind proxies, so upgrade-authority risk applies to them in addition to the above.

For the full onchain trust model, see [Security Overview](/backing-reserves-and-transparency/security.md) and [Access Control](/reference/access-control.md).


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://docs.axis.to/backing-reserves-and-transparency/audits.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.