Is PolkastarterToken (POLS) Safe? Smart Contract Security Analysis

Security Findings

3 Med3 Info

Medium

Centralized Control Over Token Transfers

CP-04The `PolkastarterToken` contract includes a pausing mechanism, which allows the contract owner to stop all token transfers. Specifically, the `pause()` function can be called by the owner to halt all `transfer()` and `transferFrom()` operations, and the `unpause()` function can resume them. This means a single entity (the owner) has the power to unilaterally freeze all token movement.

IssueThe `PolkastarterToken` contract includes a pausing mechanism, which allows the contract owner to stop all token transfers. Specifically, the `pause()` function can be called by the owner to halt all `transfer()` and `transferFrom()` operations, and the `unpause()` function can resume them. This means a single entity (the owner) has the power to unilaterally freeze all token movement.

FixToken holders should be aware that the owner, a multisig wallet, can halt all token transfers at any time. While this feature can be useful in emergencies (e.g., to mitigate a major exploit), it also introduces a significant centralization risk. Ensure you trust the multisig signers and understand their operational policies regarding the use of this function. Consider advocating for a community-driven governance mechanism or a timelock to manage such critical functions in the future.

StatusUnresolved

Medium

Liquidity not locked

QA-LIQUIDITY0.0% of the pool's LP is burned or time-locked. 27.3% is held, unlocked, by 10 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 92% of the token's DEX liquidity; the other pools were not assessed.

Issue0.0% of the pool's LP is burned or time-locked. 27.3% is held, unlocked, by 10 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 92% 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 $150K (DexScreener, all pools). 24h trading volume $1.1M (CoinGecko, all markets, daily snapshot). 24h trading volume $139K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $7.51 on 2021-02-16; the price is now 99.1594% below it.

IssueLiquidity $150K (DexScreener, all pools). 24h trading volume $1.1M (CoinGecko, all markets, daily snapshot). 24h trading volume $139K (DexScreener, all pools). CoinGecko's record for this coin: all-time high $7.51 on 2021-02-16; the price is now 99.1594% 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 68.1% of supply. What remains: 50.0% in wallets, 18.1% in other contracts. 31,612 holders in total.

IssueThe ten largest holders own 68.1% of supply. What remains: 50.0% in wallets, 18.1% in other contracts. 31,612 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 Polkastarter (POLS), market cap $6M, rank #1549. Traded on Binance, Coinbase. 31,612 holders. Verified by: exchange listings.

IssueListed on CoinGecko as Polkastarter (POLS), market cap $6M, rank #1549. Traded on Binance, Coinbase. 31,612 holders. Verified by: exchange listings.

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: fixed — the contract has no mint function. Control: a 1-of-2 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $150K of DEX liquidity across 6 pools. Launch: 2202 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: fixed — the contract has no mint function. Control: a 1-of-2 multisig. Code: not upgradeable (no proxy). Fees: no buy or sell tax. Market: $150K of DEX liquidity across 6 pools. Launch: 2202 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 PolkastarterToken is an ERC-20 compliant token, inheriting from `StandardToken` and `BasicToken`, ensuring fundamental token functionalities (7.1 Architecture). It includes `PausableToken` features, allowing the owner to control transfer operations via `pause()` and `unpause()` functions (7.2 Code Security). Transfers are protected by the `whenNotPaused` modifier, preventing operations when paused. The contract is well-structured and uses established OpenZeppelin patterns, but the pausable functionality introduces a centralized control point.

GovernanceHigh3/10

The contract utilizes the `Ownable` pattern, granting a single owner address control over critical functions such as `pause()`, `unpause()`, and `transferOwnership()` (7.3 Access Control). The owner is a multisig wallet, which enhances security by requiring multiple approvals for administrative actions (7.8 Operations). However, the owner's ability to unilaterally pause all transfers introduces a centralized point of control that could impact token liquidity and user experience (7.4 Economic).

UpgradesLow7/10

This contract is not designed with upgradeability in mind, as it does not implement any proxy pattern (7.7 Upgrades). Therefore, its logic cannot be modified or extended after deployment. Any future changes would require deploying a new contract and migrating assets, which is a significant undertaking.

Security Checklist

3/5 checks passed

Contract VerifiedPass

Ownership RenouncedFail

No Mint FunctionPass

Liquidity LockedFail

Not a ProxyPass

HoneypotNoneBuy Tax0.0%Sell Tax0.0%

Holder Composition

68.1% in top 10

50.0% in wallets18.1% in contracts

Effective Concentration57.2%

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

$150.0K across 6 pairs

Uniswap v2WETHanalysed$138.0K Uniswap v3WETH$10.2K Uniswap v3USDT$1.3K Uniswap v2VERI$404 Uniswap v2USDT$44 Uniswap v2UNI$19

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 Holder3.8%

Lock ExpiryExpired 821d ago

Key Addresses

11 addresses

Deployer

0x529c…de61

Unlocked LP Held By

0xc135…18d50xcb5d…cbc20x4788…d4e70xc811…3b200x81b6…9dc20x5212…09650x79e5…47460x1ef8…1a800x9ec0…14a30x4e72…45d1

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

What Raised This Score

3 factors

Owner can pause all transfers
Liquidity NOT locked (100% of the pool; this pool is 92% of DEX liquidity) — held by independent providers — market-depth risk
Top-10 concentration > 50% (68.1% total → 57.2% effective; 50.0% in EOAs, 18.1% in contracts)

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

Not Signed In

Is PolkastarterToken Safe?

Security Findings

Centralized Control Over Token Transfers

Liquidity not locked

The market for this token

Who holds the supply

Identity verified by independent sources

Asset class: Project token

Category Ratings

Security Checklist

Holder Composition

Liquidity Depth

LP Distribution

Key Addresses

What Raised This Score

Related Audits

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