[USDGLO]

Glo Dollar

Grade
B
Date of Rating:
April 5th, 2024
Last Change:
-
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
0.70
[M]
0.84
[I]
N/A
[D]
0.00
[G]
0.71
[E]
N/A
USDGLO Price
Last Update:
19/06/2024 20:54:50
$0.999422
Market Cap
$2,273,066
24h Volume
$20,294
Collater­alization
100%
Type of Peg
Fixed - To Fiat
Type of Backing
Fiat
Data provided by Coingecko
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
0.70
[M]
0.84
[I]
N/A
[D]
0.00
[G]
0.71
[E]
N/A
Core Team
  • Ben Milne - Brale CEO

  • Chase Merlin - PM

  • Jared Dellitt - CTO

Audits
Native Chains
  • Polygon

  • Ethereum

[S]
[M]
[I]
[D]
[G]
[E]
0.70
0.84
0.00
0.00
0.71
0.00
Glo Dollar
B
  • Glo Dollar (USDGLO) is a dollar-backed stablecoin marketed by the Glo Foundation, a Public Benefits Corporation in the US. USDGLO is issued by Brale Inc., a tech company offering Stablecoins-as-a-Service. Brale Inc. offers its products under various U.S State’ Money Transmitter licenses.

  • Yield generated from USDGLO reserves are used to fund public goods.

  • The reserves comprise US Treasury debt and cash deposits in fully segregated accounts, but these are unlikely to be bankruptcy-remote.

  • USDGLO is a niche stablecoin with a limited market presence. It is appropriate for users who would like to support public goods while holding stablecoins.

Glo Dollar
Stability
Moderately Stable
0.70/1
Moderately Stable

The Stability factor is evaluated on the following:

1. Reserves Management - Quality, quantity, storage and segregation of reserve assets

2. Market Feedback - Indicators of market's confidence in a stablecoin derived from price and trade data

3. Mechanism - Stabilization methods that protect the stablecoin

Glo Dollar
Management
Very Low Risk
0.84/1
Very Low Risk

The Management factor is evaluated on the following:

1. Restrictions - What deterrents exist to prevent key personnel of stablecoin projects from unethical and illegal behavior?

2. Negative Track Record - Have key personnel been involved in scams, frauds or other illegal activities?

Glo Dollar
Implementation
Not Assessed
N/A
Not Assessed

This factor aims to assess risks arising from technical implementations – i.e, smart contract code and oracles. It is currently not assessed, but we plan for it to be evaluated in the future.

Glo Dollar
Decentralization
High Risk
0.00/1
High Risk

The Decentralization factor is evaluated on the following:

1. Platform Censorship Risk

2. Custodian Risk

3. Type of Collateral

4. Diversified voting Power

5. User Censorship Risk

Glo Dollar
Governance
Low Risk
0.71/1
Low Risk

The Governance factor for fiat-backed stablecoins is evaluated on the following:

1. Holder Protection - What rules, statutes, or codes exist to protect the interests of stablecoin holders?

2. Reserves Verification - What checks are done to ensure the existence of reserves?

3. Redemptions - Do issuers have transparent and reasonable redemption terms?

Glo Dollar
Externals
Not Assessed
N/A
Not Assessed

This factor seeks to incorporate external feedback mechanisms such as market and social sentiment into our internal ratings. It is currently not assessed, but we plan for it to be evaluated in the future.