Carbon-12 Labs engaged New Alchemy to audit Carbon’s Crypto-Fiat gateway set of smart contracts. These contracts consist of twenty-six custom source files, reference multiple standardized external repositories and are supported by a testing environment containing a significant amount of test cases.

The engagement was technical in nature and focused on identifying security flaws in the design and implementation of the contracts, finding differences between the contract’s implementation and their behavior as described in public documentation, and finding any other issues with the contracts that may impact their trustworthiness. Carbon provided New Alchemy with access to a detailed whitepaper and a…


Cheat Sheet: It’s the end of summer. What is the state of the U.S. tokenized securities market?

So far in our STO Primer Series, we have explained “how we got here” with respect to blockchain technology, the historical context of tokenized securities, why you should “even bother” with STOs and what they could do for real estate. This week, we’re finally ready to talk about the here and now for the security token ecosystem. In this broad overview, research lead for New Alchemy Capital Seline Jung describes the current state of the Security Token market for US investors.

If you attended any blockchain conferences this summer or subscribe to a crypto newsletter, you may have noticed that…


Social Proof AG engaged New Alchemy to audit the InsurePal (Vouchforme) set of smart contracts. The contracts consist of ten custom source files without external dependencies. Detailed contract documentation and a testing environment were not provided.

The engagement was technical in nature and focused on identifying security flaws in the design and implementation of the contracts, finding differences between the contract’s implementation and their behavior as interpreted from the corporate web page, and finding any other issues with the contracts that may impact their trustworthiness. Social Proof provided New Alchemy with access to a GitHub repository containing the source code.


Wibson engaged New Alchemy to audit the Wibson smart contracts. The smart contracts implement functionality related to scheduling distribution of WIB tokens.

The engagement was technical in nature and focused on identifying security flaws in the design and implementation of the contracts, finding differences between the contracts’ implementation and their behavior as described in public documentation, and finding any other issues with the contracts that may impact their trustworthiness. Wibson provided New Alchemy with access to the relevant source code and whitepapers.

The audit was performed over two days. This document describes the issues discovered in the audit.

UPDATE: Following…


GPAToken.io engaged New Alchemy to audit the smart contracts used for the Game ICO Platform Coin. The smart contracts implement functionality related to the exchange of in-game assets with out-of-game currencies.

The engagement was technical in nature and focused on identifying security flaws in the design and implementation of the contracts, finding differences between the contracts’ implementation and their behavior as described in public documentation, and finding any other issues with the contracts that may impact their trustworthiness. GPAToken.io provided New Alchemy with access to the relevant source code and whitepapers.

The audit was performed over 3 business days. This…


How tokenizing real estate creates wealth by destroying fees

In the last installment of New Alchemy’s Security Token primer series, Galen Moore’s guest-post discussed some of the skepticism surrounding Security Tokens and presented two reasons why tokenization is worth the trouble: Liquidity, and fractional ownership. In this article, we show what improvements those two attributes of tokenization can make possible in the real estate industry.

One of the most complicated responsibilities when operating a business is securing real estate. …


ICOVO engaged New Alchemy to audit their DAICOVO platform series of Smart Contracts. These interlocking contracts implement functionality related to ICO fundraising, token and specification management.

The engagement was highly technical in nature and focused on identifying security flaws in the design and implementation of the contracts, finding differences between the contract’s implementation and their behavior as described in provided documentation, and finding any other issues with the contracts that may impact their trustworthiness. ICOVO provided New Alchemy with access to their two whitepapers along with the GitHub repository containing source code and an associated README.md file.

The audit was…


The ‘roaring 20s’ has some lessons for today’s token market

Security Tokens are new tools for reducing costs while raising investment capital, and they present immediate opportunities for a broad variety of industries. In our previous article in this Security Token series, we introduced Security Token Offerings as the culmination of blockchain technology, token sales, and the traditional US securities regulatory framework. In this article, we look through history at a catastrophic financial period to understand why a securities compliant token represents both consumer protection and opportunity.

Blockchain technology might be in its “90s internet phase” but the token market is definitely more like the ‘roaring 20s’.

Innovation. Speculation. Pump-and-dump…


What are STOs all about?

Photo by Freddie Collins on Unsplash

STOs — If you haven’t heard that acronym yet, get ready. You’re going to be hearing it. A lot.

STO stands for Security Token Offering; an elegant, complex, and infinitely promising new instrument for raising capital and distributing wealth. It’s piqued the interest of Wall Street players and is becoming particularly popular amongst more traditional issuers and investors, leading speculators to already proclaim 2018 as the “year of Security Tokens.”

Breathless fawning about the next new ‘blockchain’ phenomenon aside, STOs really are the biggest innovation in the world of securities, since securities were the biggest innovation in finance (credit the…


Blockimmo AG engaged New Alchemy to perform a security focused audit reviewing a set of smart contracts for a decentralized online real-estate marketplace. blockimmo AG plans to utilize and deploy the same contracts for their own ICO fundraising round, selling tokens in the same proposed manner as shares in a real estate property.

The engagement was technical in nature and focused on identifying security flaws in the design and implementation of the smart contracts, finding differences between the contracts’ implementation and their behavior as described in public documentation, and finding any other issues with the contracts that may impact their…

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Tokenization. Technology. Token game theory for the world’s most innovative companies.

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