On-chain security analysis — is it a scam or legit?
EthereumThe IndexToken contract implements core ERC-20 functionalities.
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 17, 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.
0x3887…7f1c0xc5bc…1c8f0x1d2a…158c0xe6c6…58950x1ec0…a1d80x0385…77110x88ad…56710x1fe9…4da60x5ad6…e2770x280a…207f0.0% of the pool's LP is burned or time-locked. 100.0% is held, unlocked, by 3 address(es) other than the owner/deployer. One of them — a contract, 0x3887…7f1c — holds 57.8% 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 89% 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
Liquidity $153K (DexScreener, all pools). 24h trading volume $3.5M (CoinGecko, all markets, daily snapshot). 24h trading volume $151K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $67.08 on 2021-05-08; the price is now 99.5565% below it.
Size any position to the liquidity and daily volume shown — they set how much you can sell and at what price.
Acknowledged
The verified source code was reviewed and no issue rising to Informational severity or above was identified. This is a statement about the code that was read, not a guarantee: the review covers the published source only. Fact-layer checks (mint capability, holder concentration) were applied separately and feed the risk score.
Re-check after any contract upgrade or ownership change, both of which can alter behaviour without changing this page.
Acknowledged
The ten largest holders own 77.8% of supply. Of that, 10.0% burned — not holders that can sell, so excluded from the concentration score. What remains: 33.6% in wallets, 34.2% in other contracts. 5,962 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 Index Cooperative (INDEX), market cap $2M, rank #2288. Traded on Coinbase. 5,962 holders.
Match the contract address against the project's official channels before trading.
Acknowledged
A token whose main use is voting on a protocol's decisions (delegation and vote checkpoints in its code). The class itself adds no points; the contract and market facts decide the score. Basis: CoinGecko category: Governance. Tokenomics — Supply: fixed — the contract has no mint function. Control: an owner that could not be resolved. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $153K of DEX liquidity across 11 pools. Launch: 2201 days of market history.
Check how much of the voting supply insiders hold and what governance can change.
Acknowledged
The IndexToken contract implements core ERC-20 functionalities. Static analysis revealed no critical or high-severity vulnerabilities. The contract lacks a totalSupply() function, which is a deviation from the ERC-20 standard, but otherwise appears robust.
The IndexToken contract provides basic ERC-20 token functionality, including transfer and transferFrom. It utilizes safe96 for amount handling, mitigating potential integer overflow/underflow issues for amounts within 96 bits (7.2 Code Security). The transferFrom function correctly handles allowances, including uint96(-1) for infinite allowance. However, the totalSupply() function, a standard ERC-20 component, is missing (7.1 Architecture).
The contract exhibits a decentralized control structure with no privileged functions or roles that can directly alter token transfer logic or economic parameters (7.3 Access Control, 7.4 Economic). This design minimizes governance and economic risks associated with centralized control. There are no external dependencies or oracle integrations to introduce manipulation risks (7.6 External).
The IndexToken contract is not designed as an upgradeable proxy (7.7 Upgrades). This means its logic is immutable once deployed, eliminating upgrade-related risks such as proxy misconfigurations or malicious upgrade paths. Any changes would require a new contract deployment and migration.
Ensure all standard ERC-20 functions, including totalSupply(), are implemented for full compatibility and expected behavior across various platforms and integrations.
Consider implementing a robust testing suite, including unit and integration tests, to cover all critical functionalities and edge cases.
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