Projects evaluated under the system are placed in two buckets: ‘Investment grade’ and ‘non-investment grade’. Investment grade is further broken down into ‘Prime’, ‘Solid’ and ‘Neutral’ ratings, while non-investment grade includes the ratings ‘Speculative’ and ‘Junk’.
The XCR system is based on a number of evaluation criteria including team capabilities, public disclosure activities, and results from external audits. XCR reports are often used by cryptocurrency exchanges, including Korbit and Coinone, when performing due diligence before listing tokens on their platforms.
Since launching the credit rating service in April 2020, Xangle has conducted evaluations of more than 140 projects. Other prominent projects receiving the same rating of BBB include Dash, Ontology, ChainLink, NEM, IOTA, and ICON.
Of note, PUBLISH received XCR’s highest rating of ‘Very High’ in the areas of ‘Disclosure Practices’, ‘Token Distribution and Volume Management’, ‘Technical Audit’, and ‘Legal Advisory”. It further received a rating of ‘High’ for ‘Token Use Cases,’ ‘Market Size’, and ‘Potential’.
Commenting on the report, Kwon Sungmin, the CEO of PUBLISH said:
“In light of the Korean government’s recent attitude towards cryptocurrency projects, we hope that this ratings report helps to bring assurances to the powers that be, all the while contributing to a safer and more secure cryptocurrency environment. At PUBLISH, we are committed to playing our part and observing regulatory guidelines as we continue to improve the news media ecosystem.”
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