Degen Token Smart Contract Audit

 Project Background

Website Details

  • Degen, an ERC-20 token launched in January 2024, has reshaped the Farcaster ecosystem by enabling Casters to reward others with DEGEN for posting quality content. 
  •  Our points system recognizes unique posts and comments, effectively bridging the gap between online contributions and real-world value.
  • Degen.tips focuses on the Degen token, an ERC-20 token integrated with the Farcaster ecosystem. It enables users to reward quality content with DEGEN tokens, turning online engagement into tangible value. 
  •  The platform supports various activities including airdrops, bounties, and development on its EVM-compatible blockchain, Degen L3, which features low transaction fees.

Website: degen.tips

Code Details

The `DegenToken` contract is a custom ERC-20 token with burnable, pausable, and votable features, utilizing OpenZeppelin libraries. Key features include:

  • Token Details: Named “Degen” with the symbol “DEGEN” and an initial supply of 36,965,935,954 tokens.
  • Minting Restrictions: Minting can only occur once a year, capped at 1% of the total supply.
  • Ownership: Only the contract owner can mint, pause, or unpause the token.
  • Security: Includes various error checks for minting conditions.

This ensures a secure and controlled token issuance process.

Audit Summary

  • We observed  1 Informational issue in the smart contracts. but those are not critical.
  • The security state of the reviewed smart contract, based on standard audit procedure scope, is “Secured”.

Executive Audit Summary

  • According to the standard audit assessment, the Customer`s solidity smart contracts are “Secured”. Also, these contracts contain owner control, which does not make them fully decentralized.
  • We used various tools like Slither, Solhint and Remix IDE. At the same time this finding is based on critical analysis of the manual audit.

Audit Report in PDF


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