Global blockchain mainnet Xpla, led by Com2uS Group, plans to strengthen transparency and secure investor trust by disclosing real-time distribution volumes and receiving external audits at all times.
The announcement came out after the recent delisting of WeMade's virtual asset, WeMix, from the four major exchanges in Korea due to controversy over the distribution volume.
Xpla has issued a transparency report to disclose the real-time level of distribution volume. This report aims to maintain the balance of information to preserve the value of decentralization, providing critical information to Xpla holders (investors), and transparent and sustainable growth of the Xpla ecosystem.
According to the disclosure policy, prior disclosure is made in addition to regular quarterly updates if there is a change of 0.1 percent or more of the total issued volume. A 0.005 percent change in volume will lead to the public notification within 14 days. This information is available on the Xpla official channel and major disclosure sites such as CoinMarketCap. In particular, it has provided CoinMarketCap with an API to check on-chain distribution data in real time, and soon, investors will be able to check it at a glance.
An official from Com2us Group expects the transparent disclosure of information, such as distribution volume, to create a healthy Xpla ecosystem.
Xpla said a global accounting firm to audit the project. External audits include the identification of risk factors for the existence and ownership of virtual assets. The audit will cover substantial verification of the number of virtual assets on the ledger and quantity on the blockchain, proving ownership of the virtual assets of the company, and consignment storage of virtual assets to a third party. The audit also includes verification of virtual asset management, such as third-party internal control.
A Com2uS Group official said, "Global accounting firms provide Xpla investors with broad and transparent information on business operations to increase reliability and help them make rational decisions based on facts." He added that the audit would set high standards to prevent unexpected mistakes and moral hazards and help sustainable business.
Xpla is developing a global mainnet (blockchain network) business centered on decentralized Web3 games, non-fungible token (NFT) marketplaces, and metaverse services. As partners, Com2uS Group, such as Com2uS Holdings, and Web 3 companies, such as Blockdemon, Hypercomic, Animoca Brands, YGG, Hashed, and Xterio, are working together to increase the stability of blockchain technology and content competitiveness.
[By Blockmedia, contact@blockmedia.co.kr]
