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Is CARV Safe?

On-chain security analysis — is it a scam or legit?

CARV CARV
0xc08c…aa8c
Base
Not verifiedThis record has not gone through deep verification and is not being monitored. The score is a dated snapshot — the token’s risk can change at any time.
Last checked today 1 audit on record
DexScreener ↗
How is this score calculated? → Medium Risk
Executive SummaryAI Copilot

The CarvToken is an ERC-20 compatible token with LayerZero OFT (Omnichain Fungible Token) capabilities, enabling cross-chain transfers. The contract is owned by a 3/5 multisig, which controls administrative functions. Key findings include a medium-severity issue where an external LayerZero endpoint can mint new tokens, potentially diluting existing holders, and a low-severity issue related to potential rounding loss in an internal function.

2 Medium1 Low4 Informational
Volume 24h
$253.7K
Liquidity
$271.4K
Price
$0.05418
Token Age
1y
Top 10 Holders
87.3%

Security Findings

2 Med1 Low4 Info
Medium

External System Can Create New Tokens

CP-01The CarvToken contract allows an external system, specifically the LayerZero endpoint, to create new tokens. This means that the `send`, `lzReceiveSimulate`, and `lzReceive` functions, when called by the endpoint, can increase the total supply of CarvTokens. If this endpoint is compromised or misused, it could lead to an uncontrolled increase in token supply, diluting the value of tokens held by existing holders.
IssueThe CarvToken contract allows an external system, specifically the LayerZero endpoint, to create new tokens. This means that the `send`, `lzReceiveSimulate`, and `lzReceive` functions, when called by the endpoint, can increase the total supply of CarvTokens. If this endpoint is compromised or misused, it could lead to an uncontrolled increase in token supply, diluting the value of tokens held by existing holders.
FixToken holders should be aware that the total supply of CarvTokens can be increased by the LayerZero endpoint. It is critical for the project team to implement stringent security measures, monitoring, and access controls for the LayerZero endpoint to prevent unauthorized or malicious token minting.
StatusUnresolved
Medium

Liquidity not locked

QA-LIQUIDITY0.0% of the pool's LP is burned or time-locked. 100.0% is held, unlocked, by 5 address(es) other than the owner/deployer. No single one holds a majority: their exits thin the market rather than hand anyone the pool. 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 71% 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 5 address(es) other than the owner/deployer. No single one holds a majority: their exits thin the market rather than hand anyone the pool. 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 71% 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
Low

Potential for Small Token Losses Due to Calculation Order

CD-01The `_removeDust` function in the contract performs a division operation before a multiplication. In Solidity, integer division truncates any decimal part, which can lead to a small loss of precision. While typically minor, this rounding loss could accumulate over many operations or affect very small token amounts, potentially leading to a slight discrepancy in calculations.
IssueThe `_removeDust` function in the contract performs a division operation before a multiplication. In Solidity, integer division truncates any decimal part, which can lead to a small loss of precision. While typically minor, this rounding loss could accumulate over many operations or affect very small token amounts, potentially leading to a slight discrepancy in calculations.
FixToken holders should understand that very small amounts of tokens might be lost due to rounding in specific internal calculations. The project team should review the `_removeDust` function to reorder operations (multiply before divide) or use a fixed-point math library to ensure maximum precision and prevent any potential rounding losses.
StatusUnresolved
Info

Who holds the supply

QA-HOLDERSThe ten largest holders own 87.3% of supply. What remains: 66.5% in wallets, 20.7% in other contracts. 242,063 holders in total.
IssueThe ten largest holders own 87.3% of supply. What remains: 66.5% in wallets, 20.7% in other contracts. 242,063 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

Identity verified by independent sources

QA-IDENTITYListed on CoinGecko as CARV (CARV), market cap $34M, rank #656. 242,063 holders. Verified by: CoinGecko.
IssueListed on CoinGecko as CARV (CARV), market cap $34M, rank #656. 242,063 holders. Verified by: CoinGecko.
FixMatch the contract address against the project's official channels before trading.
StatusAcknowledged
Info

The market for this token

QA-MARKETLiquidity $383K (DexScreener, all pools). 24h trading volume $24.0M (CoinGecko, all markets, daily snapshot). 24h trading volume $733K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $1.36 on 2024-11-02; the price is now 96.2358% below it.
IssueLiquidity $383K (DexScreener, all pools). 24h trading volume $24.0M (CoinGecko, all markets, daily snapshot). 24h trading volume $733K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $1.36 on 2024-11-02; the price is now 96.2358% 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

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-5 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $383K of DEX liquidity across 9 pools. Launch: 725 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-5 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $383K of DEX liquidity across 9 pools. Launch: 725 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 CarvToken contract implements ERC-20 standards for fungible tokens and integrates LayerZero's OFT for cross-chain functionality. The architecture allows for token transfers and administrative control by the contract owner. A significant technical risk (7.2 Code Security) is the ability of the LayerZero endpoint to mint new tokens via `send`, `lzReceiveSimulate`, and `lzReceive` functions, which could impact token supply. Additionally, a minor rounding loss issue (7.2 Code Security) was identified in the `_removeDust` function.

GovernanceHigh2/10

The contract's ownership is retained by a 3/5 multisig, which has control over critical administrative functions such as `setMsgInspector`, `setEnforcedOptions`, `setPreCrime`, `setPeer`, and `setDelegate`. This centralized control (7.3 Access Control) allows for configuration changes to the LayerZero integration. The primary economic risk (7.4 Economic) stems from the LayerZero endpoint's ability to mint new tokens, which could lead to inflation and value dilution for token holders if not properly managed or if the endpoint is compromised.

UpgradesMedium4/10

The CarvToken contract is not designed as an upgradeable proxy, meaning its logic cannot be modified post-deployment. This provides immutability and reduces the risk of future logic changes introducing new vulnerabilities. However, any discovered vulnerabilities would require a new deployment and migration (7.7 Upgrades).

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

87.3% in top 10
66.5% in wallets20.7% in contracts
Effective Concentration74.8%

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

$383.2K across 9 pairs
AerodromeUSDCanalysed$271.4K70.8%AerodromeUSDC$108.1K28.2%Uniswap v3WETH$3.6K0.9%Uniswap v3USDC$790.0%Hydrex CLAMMUSDC$450.0%AerodromeUSDC$210.0%
Show 3 more pairsShow less
AerodromeWETH$00.0%Uniswap v4ZORA$00.0%Uniswap v4ETH$00.0%

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 Holder48.6%
Top-3 Unlocked96.1%

Key Addresses

9 addresses
Deployer
0xb61d…4277
Unlocked LP Held By
0xad94…f7f70x5501…6c200x6ccc…9f890x384f…2bd70xeb79…7aa20x4737…3b090x8c0e…d9ce0xb5e6…f358

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

What Raised This Score

4 factors
  • Mintable supply — no cap found, dilution unbounded; held by endpoint: Other-Contract
  • Liquidity NOT locked (100% of the pool; this pool is 71% of DEX liquidity) — held by independent providers — market-depth risk
  • Top-10 concentration > 70% (87.3% total → 74.8% effective; 66.5% in EOAs, 20.7% in contracts)
  • Code: Potential for Small Token Losses Due to Calculation Order (Low, static analysis)

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

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