7

Ripio (UXD) Stablecoin Token Fast Security Review

 1 year ago
source link: https://blog.coinfabrik.com/ripio-uxd-stablecoin-token-fast-security-review/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
neoserver,ios ssh client
Ripio UXD

Ripio (UXD) Stablecoin Token Fast Security Review

Published on: August 3, 2023
Published in: News

This is today’s professional diversion: The Ripio exchange has just launched its own USD stable coin, UXD. It utilizes LaChain, which is currently a permissioned blockchain focused on Latin-American users. The native coin is LaCoin (LAC). We cannot resist our proclivity for security auditing!

We just took a quick look at the UXD smart contract token source code. Even though it is a simple ERC20 token inheriting from OpenZeppelin, there are a few points to take into account:

  1. It is pausable
  2. It uses draft-ERC20PermitUpgradeable.sol, even though ERC20PermitUpgradeable.sol is already available

It’s always important to highlight that with pegged stable coins, the story never ends with a simple ERC20 token. There are other critical components in the architecture, such as DeFi oracles. Another critical point is the integration with the CeFi world: are the coins fully or fractionally pegged? How frequently are their balances audited?


About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK