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Is Federal Private Equity System a Scam?

FPESBase
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Last checked Oct 28, 2026 · 1 audit on recordNew Launch · 5h old
SummaryAI Copilot

The DERC20 contract is a standard ERC-20 implementation with integrated governance and vesting capabilities.

Read the full analysis
What raised the score
  • Owner can pause all transfers
  • A privileged address controls a switch that decides whether transfers go through
  • Mintable supply — no cap found, dilution unbounded
  • LP lock status UNKNOWN — the pool's LP could not be read
  • Top-10 concentration > 30%
Exact factors
  • Owner can pause all transfers
  • A privileged address controls a switch that decides whether transfers go through
  • Mintable supply — no cap found, dilution unbounded
  • LP lock status UNKNOWN — the pool's LP could not be read
  • Top-10 concentration > 30% (100.0% total → 48.2% effective; 16.2% in EOAs, 80.0% in contracts; 3.8% 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

Early-stage analysis. This token has limited on-chain history (5h old). New tokens carry elevated risk — data may change rapidly. Always verify independently before investing.

Security Checklist

as of audit · Oct 284 of 7 checks passed
Contract verifiedVerified
OwnershipRetained
MintMintable
Liquidity lockUnknown
UpgradeabilityFixed code
HoneypotNone found
Buy / sell tax0% / 0%

Holders

as of audit · Oct 28, 20261,506 holders
80.0%Contracts16.2%Wallets3.8%
80.0%Contracts16.2%Wallets3.8%
ContractsWalletsBurnedBubble area = share of supply
100.0%of supply sits with the top 10 holders
  • Contractstreasury, vesting, bridge, staking80.0%
  • Walletsanonymous holders, free to sell16.2%
  • Burnedout of circulation3.8%
Effective concentrationwhat the score reads48.2%
How holder types affect the score

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 28, 2026

Liquidity

as of audit · Oct 28$72.1K

The risk score reads depth across every pair.

LP tokensUnknown

Whether the LP tokens are locked could not be determined.

Analysed pool$72.1KShare of depth100.0%

Security Findings

2 Medium5 Info
Medium

Centralized Minting Authority

The owner has the ability to mint new tokens via the updateMintRate and release functions. This allows the owner to increase the total supply at their discretion, which can lead to the dilution of existing token holders' value.CP-01

Issue

The owner has the ability to mint new tokens via the updateMintRate and release functions. This allows the owner to increase the total supply at their discretion, which can lead to the dilution of existing token holders' value.

Fix

Implement a hard-coded minting schedule or move the minting authority to a decentralized governance contract that requires a community vote for any supply increases.

Status

Unresolved

Medium

Centralized Control Over Token Transfers

The owner can use the lockPool and unlockPool functions to enable or disable token transfers. This grants the owner the power to freeze user assets or restrict liquidity at any time.CP-05

Issue

The owner can use the lockPool and unlockPool functions to enable or disable token transfers. This grants the owner the power to freeze user assets or restrict liquidity at any time.

Fix

Remove the ability for the owner to arbitrarily lock transfers, or implement a transparent, time-bound mechanism that prevents the owner from locking assets indefinitely without community oversight.

Status

Unresolved

Info

Who holds the supply

The ten largest holders own 100.0% of supply. Of that, 3.8% burned — not holders that can sell, so excluded from the concentration score. What remains: 16.2% in wallets, 80.0% in other contracts. The deployer/owner wallet itself holds 16.2%. 1,506 holders in total.QA-HOLDERS

Issue

The ten largest holders own 100.0% of supply. Of that, 3.8% burned — not holders that can sell, so excluded from the concentration score. What remains: 16.2% in wallets, 80.0% in other contracts. The deployer/owner wallet itself holds 16.2%. 1,506 holders in total.

Fix

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

Status

Acknowledged

Info

Not listed by any independent source

1,506 holders. Not listed by CoinGecko or any exchange GoPlus tracks. Nothing independent confirms who is behind this token, so every power its contract grants is scored at face value.QA-IDENTITY

Issue

1,506 holders. Not listed by CoinGecko or any exchange GoPlus tracks. Nothing independent confirms who is behind this token, so every power its contract grants is scored at face value.

Fix

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

Status

Acknowledged

Info

The market for this token

Liquidity $72K (DexScreener, all pools). 24h trading volume $35K (DexScreener, all pools).QA-MARKET

Issue

Liquidity $72K (DexScreener, all pools). 24h trading volume $35K (DexScreener, all pools).

Fix

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

Status

Acknowledged

Info

Asset class: Project token

A 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 ProxyAdmin contract. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $72K of DEX liquidity across 1 pools. Launch: under a day of market history.QA-PROFILE

Issue

A 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 ProxyAdmin contract. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $72K of DEX liquidity across 1 pools. Launch: under a day of market history.

Fix

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

Status

Acknowledged

Info

Recently launched — less than a day of market history

The token's oldest DEX pool is less than a day old. Age is not part of the risk score — a new token is not a risky one by default — but a short history means fewer trades and holder changes behind the facts in this report.QA-RECENT

Issue

The token's oldest DEX pool is less than a day old. Age is not part of the risk score — a new token is not a risky one by default — but a short history means fewer trades and holder changes behind the facts in this report.

Fix

Re-check ownership, liquidity and holder distribution as the token matures; those are the facts that move early.

Status

Acknowledged

Analysis

AI Copilotas of audit · Oct 28
Executive SummaryWhat the contract is and what the review found

The DERC20 contract is a standard ERC-20 implementation with integrated governance and vesting capabilities. The protocol relies heavily on a centralized owner account to manage token supply inflation and transfer restrictions. While the code follows standard OpenZeppelin patterns, the high degree of administrative control presents a significant centralization risk for token holders.

Technical8/10Low risk

The contract utilizes well-audited OpenZeppelin libraries for ERC-20, Votes, and Permit functionality. 7.1 Architecture is modular, and 7.2 Code Security is high due to the use of standard, battle-tested primitives. 7.3 Access Control is strictly enforced via the Ownable pattern, ensuring only authorized addresses can trigger sensitive state changes.

Governance3/10High risk

7.4 Economic and 7.5 Governance aspects are heavily centralized under the contract owner. The owner has the authority to mint tokens and toggle transfer restrictions, which directly impacts token value and liquidity. 7.8 Operations are dependent on the owner's discretion, creating a single point of failure for protocol governance.

Upgrades4/10Medium risk

7.7 Upgrades are not supported as this is an immutable contract. The logic is fixed upon deployment, which eliminates risks associated with proxy-based upgrade vulnerabilities. No further upgrade mechanisms are present in the codebase.

Final RecommendationWhat to do about this score

To mitigate centralization risks, consider transitioning ownership to a decentralized governance model, such as a multi-signature wallet or a DAO contract.

This would require community consensus for sensitive actions like minting or locking pools, rather than relying on a single owner address. Additionally, implement timelocks for all privileged functions. A delay between the announcement and execution of administrative actions would provide transparency and allow token holders to react to significant changes in tokenomics or transfer rules.

Contract & Record

1 audit on record
TypeToken
NetworkBase
Token age5h
Contract0x2549…9004
Deployer0xccba…62c2
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Audit History
  1. Oct 28, 202657Medium

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

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