On-chain security analysis — is it a scam or legit?
PolygonThe protocol implements a standard upgradeable stablecoin with robust access control and blacklist capabilities.
Read the full analysisEach 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
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.
Holder balances as recorded by the audit of Oct 29, 2026
The risk score reads depth across every pair.
The LP tokens of the analysed pool are not locked or burned, so whoever holds them can withdraw that liquidity.
0xd623…ea20The contract contains state variables that shadow inherited variables, which can lead to unexpected behavior when accessing storage slots. This occurs when a child contract declares a variable with the same name as one in a parent contract, potentially causing the wrong value to be read or written during execution.
Rename the shadowed state variables in the child contract to ensure they are distinct from those in the inherited contracts. Verify the storage layout after the changes to ensure compatibility with the existing proxy state.
Unresolved
The contract lets its controller — an owner that could not be resolved — mint new supply; freeze or blacklist individual addresses; pause all transfers. Nothing independent vouches for whoever holds them, so each is a live risk to holders.
Check who holds these powers and whether a timelock or multisig stands between them and holders.
Acknowledged
0.0% 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 contract, 0xd623…ea20 — 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 84% of the token's DEX liquidity; the other pools were not assessed.
Check the lock's end date and beneficiary on the locker's own page before relying on it.
Acknowledged
The ten largest holders own 98.6% of supply. What remains: 0.3% in wallets, 98.3% in other contracts. 337 holders in total.
Watch the largest wallets that are not exchanges, pools or locks — those are the ones that can move the price.
Acknowledged
Listed on CoinGecko as eUSD (EUSD), market cap $10M, rank #1260. 337 holders.
Match the contract address against the project's official channels before trading.
Acknowledged
Liquidity $1.2M (GeckoTerminal, all pools). 24h trading volume $1.2M (CoinGecko, all markets, daily snapshot). 24h trading volume $148K (GeckoTerminal, all pools).
Size any position to the liquidity and daily volume shown — they set how much you can sell and at what price.
Acknowledged
A token designed to hold a fixed value (usually $1). Its safety rests on what backs it and on who can mint, freeze or pause it. Its identity is not independently verified, so it gets none of the allowances an established stablecoin gets: every power its owner holds over supply and transfers is scored in full, because a peg is only as good as whoever can mint. Basis: CoinGecko category: Stablecoins. Tokenomics — Supply: mintable with no on-chain cap found. Control: an owner that could not be resolved. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $1.2M of DEX liquidity across 5 pools. Launch: 288 days of market history.
Check what backs the peg and who controls supply: reserve attestations for an issuer-backed coin, collateral and governance for a protocol coin.
Acknowledged
The protocol implements a standard upgradeable stablecoin with robust access control and blacklist capabilities. The architecture relies on OpenZeppelin's upgradeable patterns, ensuring standard compliance. While the system is well-structured, the presence of state shadowing requires attention to prevent logic errors during future upgrades.
The architecture utilizes a modular approach with clear separation of concerns via AccessControl. 7.1 Architecture is sound, leveraging standard proxy patterns. 7.2 Code Security is high, though 7.3 Access Control requires strict key management for roles like MINTER_ROLE and BLACKLISTER_ROLE. 7.6 External dependencies are limited to well-vetted OpenZeppelin libraries.
7.4 Economic and 7.5 Governance risks are centralized under the admin roles. The ability to mint and blacklist provides necessary operational control but introduces significant trust requirements. 7.8 Operations are supported by pause/unpause functionality to mitigate emergency risks.
7.7 Upgrades are managed via a Beacon Proxy pattern, allowing for centralized implementation updates. This provides high flexibility but necessitates rigorous testing of storage layouts. The identified shadowing issue poses a risk if not addressed before future implementation deployments.
The protocol should prioritize the resolution of the identified state shadowing issue to ensure storage integrity across future upgrades.
It is recommended to implement a multi-signature wallet for all privileged roles to prevent single points of failure in administrative actions. Regular audits of the Beacon implementation are advised whenever logic changes are introduced. Ensure that all role-granting processes are documented and audited to maintain the integrity of the access control system.
Free for any token on the record. It links to this page and always shows the current score and the date it was checked.
Score changes are recorded as dated snapshots — history is append-only and cannot be edited.
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