Security metrics

A detail explenation of the token security meteics.

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Blokiments Security metrics

Our platform evaluates and reports on various security metrics for crypto tokens. These metrics are designed to provide a clear and concise overview of the security status of a token. Below are the metrics we use for our reviews:

Contract Renounced: Renouncing a smart contract means that the contract's creator will no longer have control over it, making it trustless and transparent. This gives investors a sense of security, knowing that their investment is secure and not subject to manipulation by the contract creator. One of the main benefits of renouncing smart contracts is increased security. It is also important to note that there are scammers who will put code into contracts that allow them to perform certain actions even when the contract is renounced!
Buy Tax/Sell Tax: Smart contracts can be programmed to impose an on-chain "tax" whenever tokens are bought or sold. A portion of the transaction is automatically transferred to a designated address, effectively taxing the buyer or seller. This mechanism is often used to discourage wash trading. However, if the tax rate is set too high, it can be exploited, turning the token into a honeypot where users are heavily penalized or even prevented from selling their tokens. Rates should be less than 10%.
Verified: It describes whether the token is famous and verified.
Honeypot: A honeypot is a scam used in the crypto industry to trap victims and steal their assets or sensitive information. A honeypot means that the token may not be sold because of the token contract's function or because it contains malicious code. Never buy a token tag as a honeypot.
Open Source: An open-sourced (verified) contract is one in which the developer has uploaded a human-readable “plain text” version of the contract code, which is automatically compared to the version the blockchain has to ensure it matches. This is important because sites like Etherscan display the text version so users can dig into a contract's code. The risk of a non-verified contract is that a user cannot verify what the contract actually does. This is a concern because you are fully (and blindly) trusting the developer. The general understanding is that if a contract is not verified, it is probably a scam, as there is no legitimate reason not to verify it.
Is Deployer Scammer: The token deployer is a known scammer.
Rugpull: If the token has been rug-pulled, all liquidity was removed by the main liquidity provider.
Number of Deployer Tokens: Number of tokens created by the token deployer.

GoPlus security metrics

Blokiments does not validate nor assume responsibility for the accuracy of data obtained from these external auditors.

Mintable: The ability to create new tokens beyond the initial supply. This feature allows for flexibility in funding development, rewarding the community, or responding to changing economic conditions. However, it can also introduce the risk of inflation, which may decrease the value of existing tokens if not managed carefully. Mint functions can trigger a massive sell-off, causing the coin price to plummet.
Proxy Contract: A proxy contract is an intermediary contract that delegates calls to another smart contract known as the 'implementation' contract. When you intend to interact with the underlying 'implementation' contract, you must do so through the proxy. Proxy contracts preserve the same contract address and interface while simplifying the maintenance and modification of the contract logic. While proxy contracts provide several advantages, most are accompanied by implementation contracts, which are modifiable and potentially contain significant risks.
Whitelist: A whitelist is where a team flags specific wallet addresses to allow that wallet to perform certain actions outside the contract's usual rules. The best positive examples of this are the whitelisting of the developer, marketing, and exchange wallets to be exempt from taxes. While the above are positive, there are also some ways a whitelist can be used negatively. An example of this would be the whitelisting of a bot to be exempt from taxes. Investors are now potentially trading with taxes, while the bot has no taxes.
Blacklist: A blacklist is the opposite of a whitelist. A blacklist prevents wallet addresses from performing specific actions. The action in question is typically the ability to buy or sell. The best positive example of this is blacklisting a bot that's causing disruptions in the token's chart. Blacklisting can also help prevent fraud, scams, and other illegal activity by tracking suspicious wallets and limiting their capabilities. One of the main detrimental ways it is leveraged is similar to honeypot scams. A team is capable of blacklisting anyone who buys, which makes it impossible to sell. Some people will call this a honeypot, but it is slightly different.

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Last updated 4 months ago

Blokiments Security metrics

Contract Renounced: Renouncing a smart contract means that the contract's creator will no longer have control over it, making it trustless and transparent. This gives investors a sense of security, knowing that their investment is secure and not subject to manipulation by the contract creator. One of the main benefits of renouncing smart contracts is increased security. It is also important to note that there are scammers who will put code into contracts that allow them to perform certain actions even when the contract is renounced!

Buy Tax/Sell Tax: Smart contracts can be programmed to impose an on-chain "tax" whenever tokens are bought or sold. A portion of the transaction is automatically transferred to a designated address, effectively taxing the buyer or seller. This mechanism is often used to discourage wash trading. However, if the tax rate is set too high, it can be exploited, turning the token into a honeypot where users are heavily penalized or even prevented from selling their tokens. Rates should be less than 10%.

Verified: It describes whether the token is famous and verified.

Honeypot: A honeypot is a scam used in the crypto industry to trap victims and steal their assets or sensitive information. A honeypot means that the token may not be sold because of the token contract's function or because it contains malicious code. Never buy a token tag as a honeypot.

Open Source: An open-sourced (verified) contract is one in which the developer has uploaded a human-readable “plain text” version of the contract code, which is automatically compared to the version the blockchain has to ensure it matches. This is important because sites like Etherscan display the text version so users can dig into a contract's code. The risk of a non-verified contract is that a user cannot verify what the contract actually does. This is a concern because you are fully (and blindly) trusting the developer. The general understanding is that if a contract is not verified, it is probably a scam, as there is no legitimate reason not to verify it.

Is Deployer Scammer: The token deployer is a known scammer.

Rugpull: If the token has been rug-pulled, all liquidity was removed by the main liquidity provider.

Number of Deployer Tokens: Number of tokens created by the token deployer.

GoPlus security metrics

Blokiments does not validate nor assume responsibility for the accuracy of data obtained from these external auditors.

Mintable: The ability to create new tokens beyond the initial supply. This feature allows for flexibility in funding development, rewarding the community, or responding to changing economic conditions. However, it can also introduce the risk of inflation, which may decrease the value of existing tokens if not managed carefully. Mint functions can trigger a massive sell-off, causing the coin price to plummet.

Proxy Contract: A proxy contract is an intermediary contract that delegates calls to another smart contract known as the 'implementation' contract. When you intend to interact with the underlying 'implementation' contract, you must do so through the proxy. Proxy contracts preserve the same contract address and interface while simplifying the maintenance and modification of the contract logic. While proxy contracts provide several advantages, most are accompanied by implementation contracts, which are modifiable and potentially contain significant risks.

Whitelist: A whitelist is where a team flags specific wallet addresses to allow that wallet to perform certain actions outside the contract's usual rules. The best positive examples of this are the whitelisting of the developer, marketing, and exchange wallets to be exempt from taxes. While the above are positive, there are also some ways a whitelist can be used negatively. An example of this would be the whitelisting of a bot to be exempt from taxes. Investors are now potentially trading with taxes, while the bot has no taxes.

Blacklist: A blacklist is the opposite of a whitelist. A blacklist prevents wallet addresses from performing specific actions. The action in question is typically the ability to buy or sell. The best positive example of this is blacklisting a bot that's causing disruptions in the token's chart. Blacklisting can also help prevent fraud, scams, and other illegal activity by tracking suspicious wallets and limiting their capabilities. One of the main detrimental ways it is leveraged is similar to honeypot scams. A team is capable of blacklisting anyone who buys, which makes it impossible to sell. Some people will call this a honeypot, but it is slightly different.