Project Overview
RESEARCH CONTEXT
Xcellar is an early-stage project with an anonymous development team — the same team behind Sentinel. The project brands itself around a proprietary "Fawkes Formula" privacy protocol, but no technical documentation or source code for that protocol has been published. Our research scope is limited to the on-chain footprint: the XCL token contract and the rewards distribution contract.
⊙ generated by robots | curated by humans
NOTE TO DEVELOPERS
Please do not hesitate to reach out to us if we have documented anything inaccurately, if anything is out-of-date, or in general if there is any way that we could better support the project.
Xcellar brands itself as a privacy-focused protocol "Powered by Fawkes Formula." The Fawkes Formula is described as a privacy mechanism for transferring funds, though no public specification or verified implementation exists on-chain at the time of writing.
Xcellar sits at the center of a small ecosystem. Sentinel explicitly ties itself to Xcellar — the Sentinel website footer reads "powered by xCellar: Fawkes Formula," and the Sentinel Distributor allocates 30% of claimed profits to XCL buyback and burn. The stated relationship is symbiotic: Sentinel generates trading revenue, burns XCL to reduce supply, and uses the Fawkes Formula protocol for fund transfers — which in turn generates rewards for XCL holders.
Research Timeline
| LAST UPDATED | TYPE | RESEARCH |
|---|---|---|
| 2026-03-29 | Contract Analysis | XCL Reward Pool |
| 2026-03-29 | Contract Analysis | XCL Rewards |
| 2025-12-13 | Contract Analysis | XCL Token |
Related Projects
| PROJECT | RELATIONSHIP |
|---|---|
| Sentinel | Claims to feed Xcellar via 30% XCL buyback/burn from trading profits and by using the Fawkes Formula for fund transfers |
Token Economics
XCL Token
| PROPERTY | VALUE |
|---|---|
| Network | Ethereum Mainnet |
| Contract Address | 0xCa5E5071...24eD3515 (etherscan) |
| Token Name | Xcellar |
| Token Symbol | XCL |
| Decimals | 18 |
| Deployed | October 2, 2025 |
| Upgrade Mechanism | ☑ None - Not Upgradable |
| Verification Status | ☑ Source Code Verified |
| Audit Status | △ No audit submitted |
Rewards Distribution (Upgradeable Proxy)
| PROPERTY | VALUE |
|---|---|
| Proxy Address | 0x2A9848c3...764069 (etherscan) |
| Current Implementation | 0x435dc938...ca965 (etherscan) |
| Implementation Version | 1.0.0 |
| Deployed | December 8, 2025 |
| Last Upgrade | March 27, 2026 |
| Registered Participants | 602 |
| Total ETH Distributed | 0 ETH |
| Upgrade Mechanism | Transparent Proxy (Admin controlled) |
| Verification Status | △ Source code not verified on Etherscan |
Reward Pool Registry (Standalone)
| PROPERTY | VALUE |
|---|---|
| Contract Address | 0xD8706D2D...C2C2c (etherscan) |
| Deployed | March 27, 2026 |
| Registered Participants | 174 |
| Registration Fee | 0.001 ETH |
| Total ETH Distributed | 0 ETH |
| Upgrade Mechanism | ☑ None — Not Upgradeable |
| Verification Status | △ Source code not verified on Etherscan |
The Reward Pool Registry was deployed on the same day as the XCL Rewards v1.0.0 upgrade, by the same deployer address. It implements a paid registration model (0.001 ETH) with off-chain reward crediting by a designated distributor EOA. As of March 29, 2026, the contract holds 0 ETH — registration fees are forwarded to a fee recipient and no rewards have been deposited.
Key Addresses
| ROLE | TYPE | ADDRESS |
|---|---|---|
| XCL Token | Contract | 0xCa5E5071...24eD3515 (etherscan) |
| Rewards Proxy | Contract | 0x2A9848c3...764069 (etherscan) |
| Rewards Implementation | Contract | 0x435dc938...ca965 (etherscan) |
| Reward Pool Registry | Contract | 0xD8706D2D...C2C2c (etherscan) |
| Token Creator | EOA | 0xf78c012a...ed646e (etherscan) |
| Proxy Admin | EOA | 0x39c98338...b38a77 (etherscan) |
| Proxy Deployer / Pool Owner | EOA | 0x9fBcc72A...63eA03 (etherscan) |
| Pool Distributor | EOA | 0x867a2c98...db3157 (etherscan) |
| Fee Recipient | EOA | 0xe1f3fbb1...264a84 (etherscan) |