That’s the main “red flag” found in the codebase. In such a case all holders’ funds will be lost. Thus, the owner would be able to withdraw 99.99% of BUSD from the PancakeSwap pool. Function mint() allows an address which is in the whitelist to mint any amount of tokens while minting is not finished.Īccording to the facts explained above, we have a major concern that the owner of the contract can add himself or any other address to the whitelist and mint any desired amount of tokens. Vidma team found a fancy logic in their token contract. The aforementioned alarms are nothing serious compared to the “red flag” found in the codebase. The “Slither” technical audit report impulses us to dive deeper into the codebase. This tool is used for surface analysis of the contracts for known solidity vulnerabilities and such a report cannot be considered an audit (it’s just a small part of a comprehensive audit). Slither is not an auditing firm, it’s a Solidity static analysis framework. The first thing that alarmed us is that the “audit report” was provided by Slither. doc is available by this link - Slither-Technical-Audit-DRIP-Network-v7. However, after finding the “red flag” described in the further sections of this article, the fact of the anonymous team should be considered as the first alarm.Īfter some research, Vidma team was able to find the “ audit report”. That’s not saying that the project is untrustful, as we have plenty of cases in the crypto world where the team is anonymous. On the DRIP Token Network official website, you would not be able to find any information about the project team, only links to Twitter and Telegram accounts. Most of the data about this project on CoinMarketCap is unverified or “self-reported”. Self-Reported Circulating Supply 100,000.00 DRIP and the total supply is 1,000,000. The description of the project is absent. The recommended exchange for trading DRIP is the Fountain contract which can be found directly on the platforms website under the “swap” tab, as it allows us to waive the initial 10% tax on buys and provides the lowest prices and highest liquidity, resulting in less slippage for larger trades."Ĭhecking CoinMarketCap we noted a link to their Twitter account, website, Telegram, and the whitepaper. The official token of the DRIP Network is DRIP (BEP-20) on the Binance Smart blockchain (BSC) that captures value by being scarce, deflationary, censorship resistant, and by being built on a robust, truly decentralized blockchain. "DRIP Network is the latest project developed by Forex_Shark, BB and team. On the website, Drip describes its project as follows: The official token of the DRIP Network is DRIP (BEP-20) which was deployed on Binance Smart Chain ( 0x20f663cea80face82acdfa3aae6862d246ce0333)Īccording to Drip’s whitepaper, this is the first-ever deflationary daily ROI platform with 1% daily return on investment. The DRIP Token was launched in April 2021.
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