Solana Unchained Info
The crypto industry has matured significantly in its ability to create, distribute, and trade digital assets. However, one core issue remains unresolved: the majority of tokens do not sustain long term demand. They are purchased with the expectation of appreciation, held in anticipation of momentum, and eventually sold when liquidity allows. This cycle, while effective in early stage capital formation, fails to produce durable ecosystems.
TrustNet Score
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Real-Time Threat Detection
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Summary and Final Words
No crucial issues found
The contract does not contain issues of high or medium criticality. This means that no known vulnerabilities were found in the source code.
Contract owner cannot mint
It is not possible to mint new tokens.
Contract cannot be locked
Owner cannot lock any user funds.
Ownership is not renounced
The owner retains significant control, which could potentially be used to modify key contract parameters.
Scope of Work
Our focus is on evaluating key security elements of the Solana Program associated with your SPL token. Specifically, we examine whether critical authorities have been appropriately revoked and assess the token’s metadata for mutability.
Authority Review:
- We ensure that the Minting and Freeze Authority has been revoked. If these authorities remain active, there is a high security risk, as they allow further minting or freezing of tokens.
- We also check whether the Update Authority has been revoked. If not, this represents a low security risk, but it could still allow modifications to the token metadata.
Metadata Mutability:
- We verify if the token metadata is still set to isMutable = true. If so, this could permit future changes to the metadata, which poses a potential security concern.
This audit is conducted based on real-time program data on the Solana blockchain, without the need for files or external submissions. The findings focus solely on the claims related to authority revocation and metadata mutability, ensuring the token complies with industry best practices for security and immutability.
Final Words
The following provides a concise summary of the audit report, accompanied by insightful comments from the auditor. This overview captures the key findings and observations, offering valuable context and clarity.
What is a Token-2022 Token?
A Token-2022 token is an advanced token standard used on the Solana blockchain, built as an extension of the original SPL Token standard. Token-2022 introduces additional features and enhanced functionality, such as transfer fees, metadata extensions, interest-bearing tokens, confidential transfers, and permanent delegates, while maintaining compatibility with the Solana ecosystem. Similar to ERC-20 tokens on Ethereum, Token-2022 tokens can represent cryptocurrencies, stablecoins, utility tokens, and other digital assets. They are managed by programs on the Solana network and can be minted, transferred, and burned according to the configured token rules. Solana’s high throughput and low transaction fees make Token-2022 tokens highly scalable and efficient for decentralized applications (dApps) and blockchain-based projects.
Ownership Privileges
There are no critical Ownership Privileges. This ensures that the Mint Authority and Freeze Authority have been revoked. The Update Authority remains active for metadata management purposes.
Note - This audit report consists of a security analysis of the Token-2022 token implementation. This analysis did not include functional testing (or unit testing) of the token’s logic or extension behavior. Furthermore, we only audited one token contract associated with this project. Other contracts or programs related to this project were not audited by our team. We recommend investors conduct their own research before engaging with the token.
Files and details
Findings and Audit result
informational Issues | 1 findings
Pending
#1 informational Issue
Mutable Metadata
Metadata of a token includes details such as its name, symbol, image, and other relevant information. The authority to modify this metadata resides with the owner of the token contract. The updateAuthority holds the power to alter the token metadata, including aspects like the name, symbol, and logo. While changes of this nature are uncommon, it is important to acknowledge that they can occur.