Informal Systems

Informal Systems is a premier partner in protocol design and cross-chain infrastructure, founded with a mission to foster trust in software and monetary systems. As a workers' cooperative, the company specializes in comprehensive security solutions and infrastructure development for blockchain and distributed systems across the Bitcoin, Ethereum, Cosmos, and other major ecosystems.

Core Products and Services

Informal Systems operates through three primary divisions:

Security Services: The company provides end-to-end security audits, threat modeling assessments, and formal verification services for blockchain protocols. Their team has completed 95+ blockchain security audits, leveraging their unique background as core infrastructure developers to identify vulnerabilities that traditional auditors miss. They combine manual code review with automated testing, formal verification using their Quint specification language, and comprehensive threat analysis.

Staking Services: Informal Staking offers institutional-grade staking and network SLAs for the ETH, BTC, and Cosmos ecosystems. Operating validators across 20+ live networks since 2017, they provide staking services for Bitcoin (through Babylon), Ethereum, and the broader Cosmos ecosystem, partnering with major protocols including Akash, Axelar, Babylon, Berachain, Celestia, DYDX, EigenLayer, Espresso, Injective, Stride, and many others.

Technology Incubation: The company incubates transformative technologies including Quint (executable specifications for reliable systems), Cycles (Open Clearing Protocol for privacy and capital-efficient payments), Hydro (yield opportunities for Cosmos Hub stakers), and Emerald (EVM-compatible, high-performance networks).

Key Strengths

Informal Systems brings unique advantages through their developer mindset and multi-ecosystem expertise. The team develops and maintains critical infrastructure like CometBFT, IBC (Inter-Blockchain Communication), Hermes, and Emerald, giving them firsthand experience with complex distributed systems. This positions them to identify vulnerabilities at system boundaries where components interact in unexpected ways.

Their cross-ecosystem work across Cosmos, Ethereum, Bitcoin, Starknet, and Polkadot reveals patterns of vulnerability that single-ecosystem teams often miss, particularly in cross-chain protocols where different consensus models interact. The company pioneered the use of formal verification in blockchain security, creating Quint to prove protocols behave correctly under all conditions rather than relying solely on bug hunting.

Notable Clients and Projects

Informal Systems has secured partnerships with leading blockchain protocols including Anoma, Axelar, Celestia, Cosmos Hub, DYDX, Neutron, Polygon, Router, Stride, Warden, Archway, Berachain, EigenLayer, Espresso, Starkware, Namada, and Nillion. Their team includes Ethan Buchman, CEO of Informal and Co-founder of Cosmos, demonstrating their deep roots in the blockchain ecosystem.

The company's cooperative ownership structure (one member, one vote) ensures their values of sustainability, security, and correctness shape every aspect of their work. This unique governance model aligns the team's incentives with long-term quality and client success.

Why Choose Informal Systems

Organizations choose Informal Systems for their holistic approach to security and infrastructure. Rather than treating audits as checklist exercises, they build deep understanding through architectural analysis and threat modeling. Their team's experience maintaining production infrastructure securing billions of dollars in real-world value provides practical insights that pure security firms cannot match.

Their advanced tooling combines manual review with formal verification, fuzzing, and comprehensive testing for multi-layered security analysis. As both infrastructure developers and security auditors, they understand the complete lifecycle from protocol design through production deployment, offering guidance at every phase to ensure systems are robust, resilient, and secure by design.