On-chain security analysis — is it a scam or legit?
PolygonThe protocol implements a centralized stablecoin architecture with extensive administrative controls.
Read the full analysisEach factor is an on-chain fact recorded at the time of this analysis. The score is computed from them by a deterministic function, so the same contract returns the same score for anyone who runs the audit. How scores are computed
Share held by contracts — treasury, vesting, bridge or staking — is discounted against share held by wallets when the score is computed: a contract cannot decide to sell the way an anonymous holder can, though it can still be drained or voted to sell. Effective concentration is the figure the risk score is actually calculated from.
Holder balances as recorded by the audit of Oct 29, 2026
The 2 remaining pairs hold $18 between them and are not listed. The risk score reads depth across every pair.
The LP tokens of the analysed pool are not locked or burned, so whoever holds them can withdraw that liquidity.
0xa6e6…c4790xaae1…fdec0xb7f2…4c320xd9f0…b3220xc43b…1ae60x5703…d92b0x826f…129f0x85c8…242a0xa57c…4a400x495e…7ca4The lawEnforcementWipingBurn(address) function allows the blacklister role to burn the entire balance of any blacklisted address, effectively seizing user funds.
Restrict the use of this function to strictly defined legal or regulatory scenarios and ensure that the process is governed by a transparent, multi-party consensus.
Unresolved
The mint(address,uint256) function allows authorized minters to increase the total supply of the token, which can dilute the value of existing holdings.
Implement a time-lock or multi-signature requirement for minting operations to ensure transparency and prevent unauthorized supply expansion.
Unresolved
The pause and unpause functions allow the pauser role to halt all token transfers, preventing users from moving their assets during an emergency or administrative action.
Limit the scope of the pause functionality if possible, or ensure that the pause trigger is subject to strict governance oversight.
Unresolved
The blacklist and unBlacklist functions allow the blacklister role to prevent specific addresses from transferring or receiving tokens, effectively freezing user assets.
Establish clear, public criteria for when an address may be blacklisted to protect users from arbitrary or malicious account freezing.
Unresolved
0.0% of the pool's LP is burned or time-locked. 97.4% is held, unlocked, by 10 address(es) other than the owner/deployer. One of them — a contract, 0xa6e6…c479 — holds 60.7% and can remove that share at once; who controls it is not visible on-chain, so it is not treated as an independent provider. Some pools are concentrated-liquidity (V3/V4) positions; shares above are by position as GoPlus reports them. This assessment covers the main pool, which holds 67% of the token's DEX liquidity; the other pools were not assessed.
Check the lock's end date and beneficiary on the locker's own page before relying on it.
Acknowledged
The ten largest holders own 70.8% of supply. Of that, 2.5% in DEX pools — not holders that can sell, so excluded from the concentration score. What remains: 58.6% in wallets, 9.6% in other contracts. 4,925 holders in total.
Watch the largest wallets that are not exchanges, pools or locks — those are the ones that can move the price.
Acknowledged
Listed on CoinGecko as XSGD (XSGD), market cap $13M, rank #1118. 4,925 holders.
Match the contract address against the project's official channels before trading.
Acknowledged
Liquidity $254K (DexScreener, all pools). 24h trading volume $543K (CoinGecko, all markets, daily snapshot). 24h trading volume $177.8M (DexScreener, all pools).
Size any position to the liquidity and daily volume shown — they set how much you can sell and at what price.
Acknowledged
A token designed to hold a fixed value (usually $1). Its safety rests on what backs it and on who can mint, freeze or pause it. Its identity is not independently verified, so it gets none of the allowances an established stablecoin gets: every power its owner holds over supply and transfers is scored in full, because a peg is only as good as whoever can mint. Basis: CoinGecko category: Fiat-backed Stablecoin. Tokenomics — Supply: mintable with no on-chain cap found. Control: a 3-of-5 multisig. Code: upgradeable proxy. Fees: no buy or sell tax. Market: $254K of DEX liquidity across 12 pools. Launch: 1497 days of market history.
Check what backs the peg and who controls supply: reserve attestations for an issuer-backed coin, collateral and governance for a protocol coin.
Acknowledged
The protocol implements a centralized stablecoin architecture with extensive administrative controls. While the code follows standard patterns for regulated assets, it grants significant power to privileged roles, including the ability to freeze accounts, burn balances, and mint supply. The system relies on a multisig owner, which mitigates single-point-of-failure risks for administrative actions.
The codebase utilizes established OpenZeppelin-style patterns for Pausable and Ownable functionality. 7.1 Architecture is modular, separating core logic from administrative controls. 7.2 Code Security is high, with clear input validation in transfer functions. 7.3 Access Control is strictly enforced via modifiers like onlyBlacklister and onlyMinters.
7.4 Economic and 7.5 Governance risks are elevated due to the centralized control model. Privileged roles can unilaterally alter supply and restrict user access. 7.6 External dependencies are minimal, relying on standard ERC-20 interfaces.
7.7 Upgrades are managed via a proxy pattern, allowing for logic updates. 7.8 Operations are supported by a 3-of-5 multisig, providing a layer of protection against unauthorized administrative changes. The upgrade mechanism is standard for legacy ZeppelinOS implementations.
Users should be aware that this token is highly centralized; administrative roles possess the technical capability to freeze assets or modify balances.
It is recommended that the protocol maintain high-security standards for the multisig signers and provide transparent documentation regarding the criteria for invoking blacklisting or wiping functions. Ensure that all administrative keys are stored in hardware security modules (HSMs) or cold storage. Regularly audit the list of addresses assigned to privileged roles to ensure they remain authorized and active.
Free for any token on the record. It links to this page and always shows the current score and the date it was checked.
Score changes are recorded as dated snapshots — history is append-only and cannot be edited.
The XSGD contract on Polygon is 0xdc3326e71d45186f113a2f448984ca0e8d201995. Compare it with the address the project itself publishes before trading: other contracts can carry the same name and ticker.
Quantum Audit's risk score for XSGD is 66/100 (High risk) as of Oct 29, 2026, computed by a deterministic function from on-chain facts — Contract verified: Verified; Ownership: Retained; Mint: Mintable; Liquidity lock: Not locked; Upgradeability: Upgradeable; Honeypot: None found; Buy / sell tax: 0% / 0%. A score is a dated snapshot of those facts, not a guarantee; each one is listed on this page.
Liquidity lock: Not locked (as of Oct 29, 2026). Total DEX liquidity: $253.9K.
As of Oct 29, 2026, the 10 largest holders own 70.8% of the supply across 4,925 holders. The Holders section on this page shows who they are by holder type.
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