Hi Ashish,
We're actually already using the statically-linked libraries, but what you say sounds a lot like security through obscurity...I'd rather not depend on such things. There are still experienced people out there who know how to dump and disassemble code...
The idea with using the read-only memory sounds good, though. Looking at the specs I can see that in HASP HL Max/Time we've got 2kB read-only memory which should be plenty. I assume the read-only memory in HASP SL is at least the same (but I assume it is not really restricted).
Thanks a lot!
Filip