XCR audit
Audit Report for XCR Token
1. Project Overview
• Token Name: XCR Stable Dynamic Token
• Ticker Symbol: XCR
• Blockchain Platform: XRP Ledger (XRPL)
• Issuer Address: r4z7ZMHd72h7nUQKXBuH3mNzhBR99cEqqR
• Purpose: Decentralized financial freedom for the Caribbean community, providing accessibility, utility, and scalability through blockchain technology.
• Website: https://maicoostar-financial.com
2. Token Details
• Total Supply: 50 billion
• Decimals: 6
• Utility:
o Payment solutions for the Caribbean region.
o Integration into decentralized financial platforms.
o Future use in lending, staking, and financial services.
• Tokenomics:
o Initial distribution strategy ensures fairness and accessibility.
o No pre-mine or unfair allocation.
o Allocation: [e.g., 50% ecosystem, 25% staking rewards, 15% partnerships, 10% team.]
3. Security Analysis A. Token Security
• The XCR token complies with the XRPL standards and security practices through enforced XRPL trustless ledger practices and transparent distribution of all assets.
• Domain Verification:
o TOML File: Validated successfully at https://coin.maicoostar.ltd
o Verified metadata and accounts.
B. Issuing Account Security
• Issuer Address:
o Configuration: Properly set with a domain for trust.
o Regular Key: Implemented for security and decentralized access.
o Freeze Mechanism: Smart contracts for escrow. NO freeze accounts set, default set rippling
C. Smart Contract Vulnerability
• As an XRPL-based token, XCR relies on XRPL’s core infrastructure, avoiding typical smart contract vulnerabilities found in Ethereum-based tokens.
4. Compliance and Legal
• Jurisdiction: XRPL reach
• Regulatory Compliance:
o Stablecoin-like operations adhere to local and international financial regulations.
o XCR is a utility token and not categorized as a security.
• Anti-Money Laundering (AML) / Know Your Customer (KYC)
5. Performance and Scalability
• Transaction Speed: XRPL ensures 3-5 seconds per transaction.
• Scalability: Supports thousands of transactions per second (TPS), suitable for regional adoption.
• Fees: Low transaction costs due to XRPL’s efficiency. 6. Icon and Metadata Validation
• TOML Validation:
o Successfully passed XRPL TOML Checker.
o Metadata section and accounts correctly defined.
o CORS header verified
7. Recommendations
1. Increase Liquidity: o Establish liquidity pools on decentralized platforms like Sologenic DEX, XRPtoolkit o Encourage trading pairs (e.g., XCR/XRP, XCR/USDT).
2. Community Growth: o Build a stronger presence through social media, AMAs, and partnerships. o Highlight real-world use cases in the Caribbean region.
3. Partnership Development: o Engage local businesses and financial institutions to accept XCR. o Focus on utility-driven adoption.
4. Security Enhancements: o Regularly review the issuer account’s security measures. o Consider multi-signature setups for account management. o Fireblocks coming soon o Jumio KYC coming soon
8. Conclusion The XCR token is technically sound, secure, and adheres to the standards of the XRP Ledger. Its emphasis on the Caribbean region’s financial needs positions it uniquely in the blockchain ecosystem. By following the recommendations, XCR can enhance its adoption, liquidity, and utility to achieve long-term success.
​
9. Weblinks references for XCR
https://livenet.xrpl.org/accounts/r4z7ZMHd72h7nUQKXBuH3mNzhBR99cEqqR
​
• Email: [contact@maicoostar-financial.com]
• Website: https://maicoostar-financial.com