XToken (XTK)

 Basics

• Based in:
• Founded in: 7-2020
• Mainnet release:
• xToken is a platform for simple, efficient staking and liquidity strategies. The xToken team are creating smart contracts that wrap complicated staking and liquidity strategies into single set-and-forget ERC20 tokens.

Audits

• Bug bounty program can be found [insert here].
• Peckshield audited the later hacked code (20-7-2021)

Bugs/Exploits

• From Rekt (30-8-2021):

"~$4.5 million stolen from their xSNX contract. Three months ago this team lost $24 million - in the same token, to the same attack technique. The X-token team say they’ll compensate their users (again), and that they have taken the decision to phase out their xSNX product. The decision to withdraw their xSNX offering may be wise, however, by publicly admitting that it was too complicated for them, aren’t they just worsening the damage to their reputation?"

• The team made a proposal to compensate xBNTa and xSNXa LPs in the aftermath of the bellow exploits (15-3-2021).
• From Week in Ethereum (17-5-2021):

"xToken exploit resulted in $25m loss, due to logic error allowing infinite mint."

• From Rekt (12-5-2021):

"xToken.Market, a decentralized passive investing protocol, was exploited with the use of flash loans. The attacker used a Flashloan from DyDx for 61,833 ETH (~$267M) and a Private Transaction using Flashbots MEV to facilitate the attack. All tokens except xBNTa have already been sold to ~5.6k ETH through 1inch."

Token

Utility

• XTK can be staked (31-7-2021).

Token Details

• From the announcement (2-7-2020):

"Our inaugural assets are xKNC — launching with Kyber’s Katalyst upgrade next week — and xSNX — a wrapper for the Synthetix staking process, launching in the coming weeks."

Tech

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: Ethereum
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Staking

• Went live (31-7-2021).

Oracle Method

• Got hacked with a flashloan, which showed that the project did not use Chainlink (or other) oracles (13-5-2021).

Roadmap

• Can be found [Insert link here].

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Michael Cohen; founder