MetaTrust Labs checked and scanned the contract address 0x0176b898e92e814c06cc379e508ceb571f70bd40 of the recently popular token $TIP. This report summarizes the security assessment of the contract of token $TIP, analyzes the key centralized role risks, functions and token allocation, and provides relevant safety recommendations.
The following is the content of the $TIP contract centralization risk report:
Contract address
0x0176b898e92e814c06cc379e508ceb571f70bd40
https://etherscan.io/token/0x0176b898e92e814c06cc379e508ceb571f70bd40
centralized role
Contract owner: 0x34c6F1Ea29156ddcaEd5f9df9035195A5F279738
Selling fee: 5%
Buying fee: 5%
Tax wallet: 0x902D9627f7cA78Eb6A8cd5368B899eE934998915 - 269.7 ETH accumulated so far (worth $436,800)
Centralized functionality
The contract owner has sole authority over key functions such as enabling transactions, setting fees, withdrawing funds, etc.
enableTrading: This function allows the owner to enable trading for the contract. After enabling trading, the buying and selling of tokens is allowed. This function also sets the tradingEnabled and swapEnabled flags to true.
excludeFromFees: Owners can use this function to exclude or include addresses from fees, which is often used to exempt certain addresses from transaction fees.
setAuthorizedEditor: The owner can set or revoke the authorized editor status for a specific address. The authorized editor may have special permissions in the contract.
excludeFromMaxTransaction: The owner can exclude or include specific addresses from the maximum transaction limit, this is used as an exception to setting the maximum transaction amount for certain addresses.
setMarketMakerPair: The owner can set whether a given pair of addresses is considered a market maker trading pair, which may have different rules or restrictions compared to regular addresses.
removeLimits: This function allows the owner to remove certain limits activated in the contract, which may include transaction amount limits and wallet balance limits.
send: The owner can use this function to send funds from the contract to the specified tax wallet address.
lowerTaxes: Authorized editors can use this function to lower the buying and selling fees. It checks whether the caller is an authorized editor and the new fee is lower than the current fee.
lowerSwapThreshold: The owner can lower the swapTokensThreshold, which determines the number of tokens in the contract required to trigger a swap operation.
addLiquidity: The owner can add liquidity to the contract by providing ETH. This function is usually used during the initial setup of the contract to provide trading liquidity.
Token distribution
The top 4 addresses hold 80.3% of the total token supply, with the contract owner (0x 34 c 6) holding 65% of the supply.
https://etherscan.io/token/0x0176b898e92e814c06cc379e508ceb571f70bd40#balances
Security advice
The owner (0x34c6) is an EOA address holding 65% of the tokens, and it is recommended to replace the owner with a multi-signature wallet contract to reduce the risk of a single address holding the majority of the supply.
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