Is Camelot token (GRAIL) Safe? Smart Contract Security Analysis

Security Findings

3 Med3 Info

Medium

A privileged address can mint new tokens

CP-01A privileged function increases the total supply, diluting every holder. Functions: claimMasterRewards(uint256), updateAllocations(uint256,uint256), updateEmissionRate(uint256). Restricted to: master, masteraddress, owner.

IssueA privileged function increases the total supply, diluting every holder. Functions: claimMasterRewards(uint256), updateAllocations(uint256,uint256), updateEmissionRate(uint256). Restricted to: master, masteraddress, owner.

FixCheck who holds these functions and whether a timelock or multisig stands between them and holders.

StatusUnresolved

Medium

Liquidity not locked

QA-LIQUIDITY0.0% of the pool's LP is burned or time-locked. 100.0% is held, unlocked, by 1 address(es) other than the owner/deployer. One of them — a wallet, 0x64c6…9ab7 — holds 100.0% and can remove that share at once; who controls it is not visible on-chain, so it is not treated as an independent provider. Some pools are concentrated-liquidity (V3/V4) positions; shares above are by position as GoPlus reports them. This assessment covers the main pool, which holds 12% of the token's DEX liquidity; the other pools were not assessed.

Issue0.0% of the pool's LP is burned or time-locked. 100.0% is held, unlocked, by 1 address(es) other than the owner/deployer. One of them — a wallet, 0x64c6…9ab7 — holds 100.0% and can remove that share at once; who controls it is not visible on-chain, so it is not treated as an independent provider. Some pools are concentrated-liquidity (V3/V4) positions; shares above are by position as GoPlus reports them. This assessment covers the main pool, which holds 12% of the token's DEX liquidity; the other pools were not assessed.

FixCheck the lock's end date and beneficiary on the locker's own page before relying on it.

StatusAcknowledged

Medium

The market for this token

QA-MARKETLiquidity $1.3M (DexScreener, all pools). 24h trading volume $69K (CoinGecko, all markets, daily snapshot). 24h trading volume $63K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $4,643.22 on 2023-03-19; the price is now 99.354% below it.

IssueLiquidity $1.3M (DexScreener, all pools). 24h trading volume $69K (CoinGecko, all markets, daily snapshot). 24h trading volume $63K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $4,643.22 on 2023-03-19; the price is now 99.354% below it.

FixSize any position to the liquidity and daily volume shown — they set how much you can sell and at what price.

StatusAcknowledged

Info

Who holds the supply

QA-HOLDERSThe ten largest holders own 77.3% of supply. Of that, 8.7% burned — not holders that can sell, so excluded from the concentration score. What remains: 0.0% in wallets, 68.5% in other contracts. The deployer/owner wallet itself holds 6.9%. 46,940 holders in total.

IssueThe ten largest holders own 77.3% of supply. Of that, 8.7% burned — not holders that can sell, so excluded from the concentration score. What remains: 0.0% in wallets, 68.5% in other contracts. The deployer/owner wallet itself holds 6.9%. 46,940 holders in total.

FixWatch the largest wallets that are not exchanges, pools or locks — those are the ones that can move the price.

StatusAcknowledged

Info

Listed, but not independently verified

QA-IDENTITYListed on CoinGecko as Camelot Token (GRAIL), rank #3184. 46,940 holders.

IssueListed on CoinGecko as Camelot Token (GRAIL), rank #3184. 46,940 holders.

FixMatch the contract address against the project's official channels before trading.

StatusAcknowledged

Info

Asset class: Project token

QA-PROFILEA token issued by a project for use, governance or fundraising. Scored on its contract and market facts. The class itself adds no points; the contract and market facts decide the score. Basis: no class-specific evidence. Tokenomics — Supply: mintable with no on-chain cap found. Control: a 3-of-6 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $1.3M of DEX liquidity across 28 pools. Launch: 1409 days of market history.

IssueA token issued by a project for use, governance or fundraising. Scored on its contract and market facts. The class itself adds no points; the contract and market facts decide the score. Basis: no class-specific evidence. Tokenomics — Supply: mintable with no on-chain cap found. Control: a 3-of-6 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $1.3M of DEX liquidity across 28 pools. Launch: 1409 days of market history.

FixCheck the project's own documentation for what the token is used for; this report covers what the contract allows.

StatusAcknowledged

Category Ratings

TechnicalLow8/10

The GrailTokenV2 contract implements the ERC-20 standard, providing standard token functionalities like `transfer`, `balanceOf`, and `approve`. The contract uses `Ownable` for access control, restricting sensitive administrative functions to the contract owner (7.1 Architecture). However, the contract includes several functions that allow privileged addresses (owner or master) to mint new tokens, such as `claimMasterRewards`, `updateAllocations`, and `updateEmissionRate`. This capability directly increases the total supply (7.2 Code Security), potentially diluting existing token holders.

GovernanceMedium5/10

The contract's economic model allows for configurable emission rates and allocation percentages, providing flexibility for protocol management (7.4 Economic). The owner can update critical parameters like `emissionRate`, `farmingAllocation`, and `legacyAllocation`. However, the owner and a designated 'master' address hold significant power over the token's supply through minting functions (7.5 Governance). For example, the `claimMasterRewards` function allows the master to mint tokens up to the available reserve, while `updateAllocations` and `updateEmissionRate` allow the owner to trigger emissions that increase total supply. This centralized control over token supply introduces a governance risk, as a malicious or compromised owner/master could inflate the supply.

UpgradesMedium4/10

The GrailTokenV2 contract is not implemented as an upgradeable proxy, meaning its logic cannot be changed after deployment (7.7 Upgrades). This provides immutability and reduces upgrade-related risks. However, any future changes would require deploying an entirely new contract and migrating assets, which can be a complex process.

Security Checklist

2/5 checks passed

Contract VerifiedPass

Ownership RenouncedFail

No Mint FunctionFail

Liquidity LockedFail

Not a ProxyPass

HoneypotNoneBuy Tax0.0%Sell Tax0.0%

Holder Composition

77.3% in top 10

0.0% in wallets68.5% in contracts

Effective Concentration27.4%

Share held by contracts — treasury, vesting, bridge or staking — is discounted against share held by wallets when the score is computed: a contract cannot decide to sell the way an anonymous holder can, though it can still be drained or voted to sell. Effective concentration is the figure the risk score is actually calculated from.

Liquidity Depth

$1.27M across 28 pairs

Sushiswap v3#BTB$592.8K Sushiswap v3#BB$490.3K Camelot v3USDCanalysed$155.5K CamelotUSDC$16.6K CamelotARB$9.7K Camelot v3WETH$8.7K

Show 4 more pairsShow less

CamelotWETH$190 CamelotDMHS$182 KyberswapUSDC$88 Camelot v3USD₮0$83

The 18 remaining pairs hold $449 between them and are not listed.

The risk score reads depth across every pair. The volume figure and the volume-to-liquidity ratio elsewhere on this page describe only the pair this audit analysed, so the two are not directly comparable.

LP Distribution

Top-1 Unlocked Holder100.0%

Top-3 Unlocked100.0%

Key Addresses

2 addresses

Deployer

0x01bb…db9d

Unlocked LP Held By

0x64c6…9ab7

No privileged address appears among these holders: the unlocked liquidity sits with independent providers, not with the deployer.

What Raised This Score

3 factors

Mintable supply — no cap found, dilution unbounded; held by masteraddress: Multisig
Liquidity NOT locked (100% of the pool; this pool is 12% of DEX liquidity) — held by independent providers — market-depth risk
Top-10 concentration > 20% (77.3% total → 27.4% effective; 0.0% in EOAs, 68.5% in contracts; 8.7% burned, locked or in pools excluded)

Each factor is an on-chain fact recorded at the time of this analysis. The score is computed from them by a deterministic function, so the same contract returns the same score for anyone who runs the audit. How scores are computed

Final Recommendation

AI Copilot

It is recommended to implement robust multi-signature controls for the owner address to mitigate the risk of a single point of compromise, especially given the owner's ability to control token supply parameters and trigger minting.…

Read the verdictHide

Consider implementing time-locks or community governance mechanisms for critical functions that affect token supply or economic parameters to introduce a delay and allow for community oversight. Additionally, ensure clear documentation and transparency regarding the emission schedule and allocation logic to inform token holders about potential supply changes.

Contract

TypeGrailTokenV2

Audit History

1 audit on record

Sep 2944

Score changes are recorded as dated snapshots — history is append-only and cannot be edited.

Not Signed In

Is Camelot token Safe?

Security Findings

A privileged address can mint new tokens

Liquidity not locked

The market for this token

Who holds the supply

Listed, but not independently verified

Asset class: Project token

Category Ratings

Security Checklist

Holder Composition

Liquidity Depth

LP Distribution

Key Addresses

What Raised This Score

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