With the global impact of COVID-19, the StraitsX team has been working from home in Singapore, Indonesia, and Taiwan for the past two months. Except for a few inevitable slowdowns in communication, this significant adjustment didn’t considerably impede our progress.

We are happy to report the latest updates of the project following the launch of our XSGD pilot with crypto.com back in February.

First XSGD (ERC-20) tokens minted in April

From the get-go, the StraitsX initiative has been intended to be blockchain agnostic. We aim to leverage technologies that are most likely to bring value and accessibility to the StraitsX ecosystem.

XSGD was first introduced as a ZRC-2 smart contract running on the high-throughput Zilliqa protocol. In April, we deployed XSGD on Ethereum as an ERC-20 standard token and minted the first XSGD (ERC-20) tokens. We foresee this expansion to bring some more flexibility to our token holders.

XSGD (ERC-20) token contract address: 0x70e8de73ce538da2beed35d14187f6959a8eca96

We improved and updated our XSGD (ZRC-2) smart contract

The initial scope of our pilot launch was purposefully limited and aimed at:

1. Identifying the areas where we could improve our smart contract design.
2. Building the required infrastructure to enable the StraitsX assets to scale.

We’ve worked hand-in-hand with the Zilliqa team to stress test both the XSGD (ZRC-2) token and the ZRC-2 standard. This extensive work has led to some adjustments made to the ZRC-2 standard by Zilliqa to improve the management of exceptions and the condition checks in transitions. We have now cascaded these changes to XSGD as well.

As of 22nd May, we have retired the existing contract zil1n0006zrsdtl0zj5mwac2rkaa442f4d37hntkv7, and are introducing our new and improved XSGD (ZRC-2) smart contract: zil183069paysanegknvvx462f4qpvxldggppxrrjd

Supported by more wallets

As part of our aim in enabling as much accessibility as possible to our token holders, we’ve worked with various wallet providers over the past few weeks to kick-start the wallet ecosystem needed for our stablecoins to flourish.

We are happy to announce that XSGD is now supported by the following wallets.

XSGD (ERC-20)

• MyEtherWallet
• imToken
• Trust Wallet

XSGD (ZRC-2)

• Zillet
• Moonlet

Institutional wallet support is also coming soon and will be announced separately.

What’s next?

There is a lot more coming up that we can’t wait to announce!

The public release of XSGD, as well as the tokenisation platform (to allow anyone in Singapore to deposit and withdraw XSGD seamlessly from their Xfers account), is expected to be up and running by Q3.

We are also in the midst of discussions with various wallets and exchanges to support XSGD. Do stay tuned for these announcements on our social media channels:

Twitter
LinkedIn
Facebook

Stay healthy!

Head of StraitsX
Aymeric Salley