What Statemind does

Statemind is a private blockchain security firm founded in 2022 that provides professional smart contract auditing and consulting services to DeFi protocols and decentralized applications on EVM-compatible blockchains. The company specializes in reviewing Solidity and Vyper codebases, following a structured five-step audit methodology (project review, code checking, interim reports, bug fixing verification, and final verification). Its audited portfolio includes major DeFi protocols such as Lido Finance ($17.48B TVL, 20 reports), Curve Finance ($1.6B TVL), Instadapp ($1.37B TVL, 6 reports), Yearn Finance ($253.79M TVL, 6 reports), StakeWise ($724.7M TVL), and 10+ other protocols, with reported claims of securing over $100M in potential 0-day exploit value and finding 100+ critical/high vulnerabilities across 200,000+ lines of code.

Statemind's technical differentiation rests on producing research-grade deep-dive analyses of complex DeFi mechanism designs — covering Curve's LLAMMA stablecoin architecture, YieldBasis's LEVAMM leveraged liquidity primitive, Curve CryptoPool with Donations, and fixed-rate lending protocols — published as blog content that doubles as top-of-funnel demand generation. The firm developed and open-sourced Vyzzer, a coverage-guided fuzzing framework purpose-built for the Vyper compiler (built on Atheris and libprotobuf-mutator), representing a proprietary technical contribution to the Vyper ecosystem. The team positions itself as protocol design co-authors rather than external reviewers, supported by testimonials from Curve Finance founder Michael Egorov, Paradigm Head of Security samczsun, and Lido core dev @PsheEth.

Statemind generates revenue through bespoke, quote-based professional services engagements priced per codebase size and complexity, with no public pricing tiers disclosed. Its go-to-market combines direct enterprise outreach (request form at statemind.io/request, [email protected] contact) with top-of-funnel content marketing and a Blockchain Security Fellowship program that builds talent pipeline and community. The company is led by CEO Misha Putiatin (who is also co-founder of DeFi protocol Symbiotic, audited by Statemind) and Co-Founder & Head of Audit Algys Ievlev, operating as a distributed team with no disclosed office location or incorporation jurisdiction.

Name

Statemind

Legal name

Statemind

Website

https://statemind.io

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Statemind is a private blockchain security firm that provides professional smart contract auditing and consulting services for DeFi protocols on EVM-compatible blockchains, specializing in Solidity and Vyper codebases with deep protocol mechanism analysis.

Ownership category

akta.pro rank

Product category

Blockchain Security Services

NAICS

Computer Systems Design and Related Services (5415)

SIC

Finance Services (6199)

akta.pro primary industry

Smart Contract Auditing & Formal Verification (FSAPAJAA)

akta.pro secondary industries

Smart Contract Security Tooling (static/dynamic analysis, formal verification) (FSAPABAI), Security Testing Tooling (SAST/DAST for smart contracts, fuzzing) (FSAPAJAK)

Keywords

• Smart contract auditing
• Blockchain security
• DeFi protocol audits
• Solidity Vyper review
• Vyper compiler fuzzing

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Smart Contract Audit Services: Statemind generates revenue primarily through professional smart contract auditing engagements. Protocols and DeFi projects engage Statemind directly to review their codebase (Solidity and Vyper). Pricing is handled via direct [email protected] contact or a request form — no public pricing is listed, indicating bespoke per-engagement pricing based on codebase size and complexity.
2. Blockchain Security Fellowship: Statemind operates a selective fellowship program that trains smart contract security specialists. While this primarily serves talent pipeline and community building, it may also generate ancillary revenue through structured program fees or associated services.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Statemind is a blockchain security firm offering professional smart contract audit services for DeFi protocols and Web3 projects on EVM-compatible chains. Audits follow a five-step methodology covering project architecture review, code vulnerability checking, interim reports, bug fixing verification, and final verification across Solidity and Vyper codebases. The firm also develops and open-sources security tooling (Vyzzer) for the Vyper compiler ecosystem and publishes research-grade technical analyses of DeFi protocols.

Product overview

Statemind is a blockchain security firm offering smart contract audits as its core service, with expertise in over 200,000 lines of Solidity and Vyper code. The company has secured over $17B in TVL across audited projects and discovered over 100 vulnerabilities. The product portfolio includes professional audit services following a five-step methodology (project review, code checking, interim reports, bug fixing, and final verification) and Vyzzer, an open-source fuzzing tool for the Vyper compiler ecosystem. The company also publishes technical research and deep-dive analyses of DeFi protocols through its blog.

Differentiator

Problem solved

Functional benefit

Brands

• Vyzzer: A fuzzing tool designed specifically for the Vyper compiler, created by Statemind to identify potential vulnerabilities in the compiler and runtime environment.

Products and services

• Smart Contract Audits Professional smart contract audit and blockchain security services for DeFi protocols and Web3 projects on EVM-compatible chains, following a five-step methodology: project review and architecture analysis, code vulnerability checking, interim/consolidation reports, bug fixing verification, and final verification. Audits cover Solidity and Vyper codebases and serve protocols managing billions in TVL.
• Vyzzer Vyzzer is a coverage-guided fuzzing framework purpose-built for the Vyper compiler, leveraging Atheris (coverage-guided Python fuzzing engine), libprotobuf-mutator, and Titanoboa EVM interpreter. Supports differential fuzzing across Vyper versions, optimization flag testing, and IR vs experimental codegen (Venom) comparisons. Released as an open-source tool to strengthen the Vyper ecosystem.

Quantifiable outcome

• Saved $100m+ in potential 0-day exploits across audited protocols
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• SymbioticcoreStrategic or Co-development PartnerStatemind CEO Misha Putiatin is co-founder of Symbiotic, a restaking/DeFi protocol. Statemind has conducted 3 audits of Symbiotic (2.88K LoC, $412.92M TVL secured). This represents a deeply embedded relationship where the CEO has direct ownership in the audited protocol.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Trail of Bits: Leading smart contract and blockchain security firm offering manual audits, formal verification, and security tooling — directly comparable to Statemind's audit services across DeFi protocols.
• OpenZeppelin: One of the most established smart contract security firms, providing audits, security tooling, and reusable contract libraries — competing for the same DeFi protocol engagements as Statemind.
• Spearbit: Premier smart contract security firm that curates a network of expert auditors — directly comparable to Statemind's boutique, senior-auditor-led model for high-end DeFi engagements.
• ChainSecurity: Smart contract security firm originating from ETH Zurich research, focused on formal verification and audits of DeFi protocols — comparable boutique technical depth to Statemind.
• Runtime Verification: Formal verification and smart contract security firm with academic roots — comparable to Statemind on technical rigor for high-stakes DeFi audits.
• Certora: Formal verification platform and audit firm for smart contracts, combining tooling (Certora Prover) with professional services — adjacent competitor to Statemind's Vyzzer-equipped audit offering.
• Sigma Prime: Boutique blockchain security firm specializing in Ethereum and DeFi smart contract audits, with deep technical expertise comparable to Statemind's lean, senior-led model.

Broad incumbents

• Consensys Diligence: Smart contract auditing arm of Consensys (parent of MetaMask and Infura), offering audits alongside broader Ethereum infrastructure services — overlapping with Statemind on DeFi audit engagements.
• Hacken: Blockchain security firm offering smart contract audits alongside broader Web3 security services (bug bounties, penetration testing) — broader portfolio but overlapping DeFi audit work with Statemind.

Emerging players

• Zellic: Newer but rapidly scaling smart contract security firm founded by well-known CTF researchers, competing for the same high-end DeFi audit engagements as Statemind.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/statemindio
• GitHubgithub.com/statemindio

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Statemind