This is a devnet prototype. The tokens have no value, the programs have not been audited independently, and nothing here should be used with real money.

Write to hello@softseco.com. Please do not open a public issue for a vulnerability that affects a deployed program. A reply comes within three working days.

• The auditor sees amounts, the public does not. A mint designates one auditor ElGamal key. Every confidential transfer encrypts the amount to the sender, the receiver and that auditor. The auditor key therefore reads every amount on the mint. It is a powerful key; in the production design it is held off-chain by the issuer and moves to threshold key-sharing across separate hardware modules.
• Addresses stay public. Token-2022 hides amounts, not the transaction graph. Anyone can see that two addresses transacted.
• Disclosures are counted, not named. The register shows that a disclosure was recorded and when; the record behind it, and the salt that makes its hash unguessable, stay with the issuer.
• The KYC partner sees identity, not payments. It writes an entry into the registry at the perimeter and learns nothing about what a wallet does afterwards.
• Compliance is enforced on-chain. A blocked address is refused by Token-2022 calling Sentinel, not by the interface. Bypassing the front end does not bypass the policy.

• allow_self_attest lets a wallet enter the registry on its own. It exists so a visitor can try the flow on devnet and has no place in a real deployment. A wallet that has been revoked cannot use it to come back — only the KYC partner can.
• The faucet mints test USDC without limit, so the "reserve" behind the vault is itself a test token. The invariant the demo checks is between the issued eUSD and the vault, not against anything real.
• The upgrade authority of both programs is a single key.
• The disclosure register holds a hash commitment per entry since 0.2.0. Entries written by 0.1.0 still carry the subject's address. Each entry also keeps a coarse reason code and the key of the signer who recorded it; the mainnet design keeps neither on-chain.
• Neither program has been independently audited.

The programs are built with Anchor 0.31.1 and platform-tools v1.57. See CONTRIBUTING.md for why those versions and not the defaults.