USSD V1

Rating

Score43.00

Stablecoin

Sec. Infrastructure Overview

Current Bug Bounty:

No Bug Bounty

Bug Bounty Max Payout: 0 $

Has paid White Hats before:

Date of Last Audit: 1 Jan 1

Recent Security Incidents

Incident
Amount Lost
Date

Secured By

The Protocol is secured by

Name
Type
Website
0
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Past Audits

Number of Audits

1

Number of Vul. Found

22

Date of Last Audit

1 Jan 1

Past Audit Reports

Last codebase change was on: 1 Jan 1

Company
Date
Number of Vul Found
Link
1 Jan 1
0
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Show Code Locations

Show all Vulnerabilities

Vulnerabilities reported in past audits

Severity
Title
Location
Link
REDUCTED
REDUCTED
REDUCTED
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Code Structure

Lines of Code

0

Amount of Contracts

21

External Integrations

0 Code Summery

The institution of money is pivotal in human civilization, and the decentralization of money is seen as a means to protect collective progress. The crypto market, particularly Bitcoin, is expected to grow over the long term, influenced by four-year cycles linked to Bitcoin halving events. The text critiques Decentralized Autonomous Organizations (DAOs) for their lack of transparency and suggests that stablecoins come with varying centralization risks. It outlines ideal characteristics for stablecoins and discusses collateral strategies, emphasizing the importance of security and over-collateralization. Additionally, it introduces a reward system for token holders and proposes a local currency stablecoin project, inviting technology entrepreneurs to participate.

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Code Structure & Dependency

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Centralization

Decentralization Score

8 out of 20

Contract Upgradability

No upgradability

Frontend

Go to Dapp

Maintenance Score

2.00

Poor

Excellent

Admin / Governance Functions

Timelocks

No Timelocks

Pauseability

No pause

Admin Wallet

0xA054821dD2018bD48ecF9630947AB006f9E8b402

There are DEFAULT_ADMIN_ROLE and STABLECONTROL roles defined. They have elevated privileges and are assumed to be TRUSTED actors.

Can not be paused

Recommendations

The stable coin collaterization ratio might fall lower 100% any time due to the collateral tokens price fluctuations. If the collateral ratio is below 95%, then the conversion of USSD within the protocol is only possible with a 5% discount. For example with the 0.94 collateral ratio the protocol has only 0.94 cents of collateral to cover one USSD token, but with the discount it would be possible to convert one USSD to only 0.893 USD of collateral (Collateral ratio * (1 - discount) = 0.94 * 0.95 = 0.893)

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