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[StraitsX]

XSGD

Grade
B+
Date of Rating:
June 4th, 2023
Last Change:
June 4th, 2023
SMIDGE Scores
[S] Stability
[M] Management
[I] Implementation
[D] Decentralization
[G] Governance
[E] Externals
[S]
N/A
[M]
N/A
[I]
N/A
[D]
N/A
[G]
N/A
[E]
N/A
XSGD Price
Last Update:
09/01/57616 08:40:00
$0.780854
Market Cap
$11,418,019
24h Volume
$858,229
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]
-
[M]
-
[I]
-
[D]
-
[G]
-
[E]
-
Core Team
  • Hidden Name
  • Hidden Name
Audits
Native Chains
  • Chain
Links
Full Report
Scoring Guidelines
[S]
[M]
[I]
[D]
[G]
[E]
0.00
0.00
0.00
0.00
0.00
0.00
StraitsX
B+
  • XSGD is a Singapore Dollar-denominated stablecoin issued by XFERS Pte Ltd.
  • XFERS is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution.
  • XSGD is fully backed by cash deposits at banks and bills issued by the MAS.

XSGD's rating can be upgraded from B+ to A- by:
  • incorporating transparent and reasonable timelines for redemption in the Terms of Service.
StraitsX
Stability

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 

 

StraitsX
Management

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?
StraitsX
Decentralization

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
StraitsX
Governance

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

  1. Holder Protection - What rules, statutes or code exist to protect interests of stablecoin holders?
  2. Reserves Verification - What checks are done to ensure existence of reserves?
  3. Redemptions - Do issuers have transparent and reasonable redemption terms?