The DERC20 contract is a standard ERC-20 implementation with additional governance and vesting capabilities. The protocol relies on a centralized owner to manage token inflation and liquidity pool access. While the code follows standard OpenZeppelin patterns, the high level of administrative control poses a significant centralization risk to token holders.
Early-stage security check — honeypot & rug-pull analysis
Is USDP a Scam?
Not verified
This 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.Own this token? Put it under verification →The DERC20 contract is a standard ERC-20 implementation with additional governance and vesting capabilities.
Read the full analysis- Owner can pause all transfers
- A privileged address controls a switch that decides whether transfers go through
- Mintable supply — no cap found, dilution unbounded
- Liquidity not locked
- 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
- Liquidity NOT locked (100% of the pool) — who holds it cannot be verified
- Top-10 concentration > 30% (100.0% total → 48.3% effective; 16.2% in EOAs, 80.0% in contracts; 3.7% 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
Security Checklist
as of audit · Oct 20Holders
as of audit · Oct 20, 2026- Contractstreasury, vesting, bridge, staking80.0%
- Walletsanonymous holders, free to sell16.2%
- Burnedout of circulation3.7%
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 20, 2026
Liquidity
as of audit · Oct 20The 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.
Security Findings
MediumCentralized 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 and dilute existing token holders at any time.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 and dilute existing token holders at any time.
Fix
Restrict minting capabilities to a pre-defined schedule or transition control to a decentralized governance contract.
Status
Unresolved
MediumCentralized Control Over Liquidity Transfers
The owner can use the lockPool and unlockPool functions to toggle the ability for users to interact with specific liquidity pools. This creates a risk where the owner can arbitrarily freeze user funds or restrict trading.CP-05
Issue
The owner can use the lockPool and unlockPool functions to toggle the ability for users to interact with specific liquidity pools. This creates a risk where the owner can arbitrarily freeze user funds or restrict trading.
Fix
Remove the ability for the owner to pause or restrict transfers, or implement a community-driven voting mechanism for such actions.
Status
Unresolved
InfoWho holds the supply
The ten largest holders own 100.0% of supply. Of that, 3.7% 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%. 2,018 holders in total.QA-HOLDERS
Issue
The ten largest holders own 100.0% of supply. Of that, 3.7% 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%. 2,018 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
InfoNot listed by any independent source
2,018 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
2,018 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
InfoThe market for this token
Liquidity $51K (DexScreener, all pools). 24h trading volume $44K (DexScreener, all pools).QA-MARKET
Issue
Liquidity $51K (DexScreener, all pools). 24h trading volume $44K (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
InfoAsset 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. Its name presents it as a stable-value coin, yet it trades at $0.005046 — it does not hold a peg. 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: $51K 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. Its name presents it as a stable-value coin, yet it trades at $0.005046 — it does not hold a peg. 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: $51K 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
InfoRecently 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 20The 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 patterns. However, 7.3 Access Control is heavily concentrated in the owner address, which can unilaterally alter core contract logic.
7.4 Economic and 7.5 Governance aspects are centralized, as the owner has the authority to mint tokens and restrict liquidity pool interactions. While 7.6 External dependencies are minimal, the lack of a timelock or multi-signature requirement for sensitive functions like updateMintRate increases trust requirements. Token holders are subject to dilution at the owner's discretion within the defined 2% annual cap.
7.7 Upgrades are not supported as the contract is not a proxy. 7.8 Operations are straightforward, though the owner's ability to lock pools and mint tokens represents a permanent operational risk. No further upgradeability concerns exist.
It is recommended to transition ownership to a decentralized governance model, such as a DAO or a multi-signature wallet, to mitigate the risks associated with a single point of failure.
Implementing a timelock on all privileged functions would provide transparency and allow the community to react to administrative changes.
Contract & Record
Free for any token on the record. It links to this page and always shows the current score and the date it was checked.
- Oct 20, 202660Medium
Score changes are recorded as dated snapshots — history is append-only and cannot be edited.
Frequently Asked Questions
What is the USDP contract address?
The USDP contract on Base is 0x38bc6062deb466b1e919b7787494f164eba1e13c. Compare it with the address the project itself publishes before trading: other contracts can carry the same name and ticker.
Is USDP a scam?
Quantum Audit's risk score for USDP is 60/100 (Medium risk) as of Oct 20, 2026, computed by a deterministic function from on-chain facts — Contract verified: Verified; Ownership: Retained; Mint: Mintable; Liquidity lock: Not locked; Upgradeability: Fixed code; Honeypot: None found; Buy / sell tax: 0% / 0%. A score is a dated snapshot of those facts, not a guarantee; each one is listed on this page.
Is USDP liquidity locked?
Liquidity lock: Not locked (as of Oct 20, 2026). Total DEX liquidity: $50.9K.
Who holds USDP?
As of Oct 20, 2026, the 10 largest holders own 100.0% of the supply across 2,018 holders. The Holders section on this page shows who they are by holder type.
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