ZARP Stablecoin
ZARP
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
ZARP is a centralized, South African Rand (ZAR)-pegged stablecoin issued across multiple blockchains (Ethereum, Base, Polygon, and Solana) backed by reserves managed at Old Mutual Wealth. The project demonstrates solid operational baseline security, characterized by recurring third-party reserve attestations by Kempen Audit running through August 2026, an overcollateralization ratio around 108-110%, and an initial smart-contract audit from Solidity Finance with no history of exploits, depegs, or insolvencies. However, overall viability is heavily constrained by negligible secondary market liquidity (daily trading volumes often near zero), an absent grassroots community footprint, centralized supply concentration (with the top holders controlling ~99% on Base), a single dated smart contract audit, and pending CASP regulatory licensing under South Africa's FSCA. No qualifying red-flag events or data gaps were present.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About ZARP Stablecoin (ZARP)
ZARP (ZARP) is a centralized, fiat-backed stablecoin pegged to the South African Rand (ZAR). Issued by ZARP Stablecoin (Pty) Ltd in association with Inves Capital (Pty) Ltd, the token operates across multiple blockchain networks, including Ethereum, Base, Polygon, and Solana. Its primary objective is to facilitate Rand-denominated transactions, cross-border payments, and decentralized finance liquidity, backed by cash reserves managed at Old Mutual Wealth.
The project implements an overcollateralized reserve model, with reported collateral ratios ranging between 108% and 110%. The initial smart contract architecture was audited by Solidity Finance in November 2021. For ongoing reserve transparency, independent accounting firm Kempen Audit conducts recurring Agreed-Upon Procedures attestations to verify the circulating supply against treasury reserves.
While the project has maintained a clean incident history without recorded smart contract exploits, insolvencies, or depegs, it presents several structural risks. ZARP exhibits negligible secondary-market liquidity, with daily trading volumes frequently near zero. Governance and token supply remain highly centralized, with the top ten holders controlling approximately 99% of the supply on Base. Additionally, the project lacks a decentralized governance framework, has not conducted updated smart-contract audits across its newer chain deployments, operates with a pending Crypto Asset Service Provider (CASP) license under South Africa's Financial Sector Conduct Authority (FSCA), and carries no deposit insurance on underlying reserve assets.