Summer Info
Summer is the first seasonal low-supply memecoin on the Solana chain that allows holders to earn passive income in USDT just by holding.
TrustNet Score
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Security Assessments
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 renounced
The contract does not include owner functions that allow post-deployment modifications.
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- We ensure that the Minting and Freeze Authority has been revoked.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- We also check whether the Update Authority has been revoked.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 (SPL Token Extensions) Token?
Token-2022 is the newer token program on the Solana blockchain — an evolution of the original SPL Token standard, which itself is broadly comparable to Ethereum's ERC-20. It remains compatible with the classic SPL model but adds a set of optional, native features called extensions (for example transfer fees, metadata pointers, transfer hooks, interest-bearing balances, and confidential transfers) directly at the program level. Like classic SPL tokens, Token-2022 tokens can represent cryptocurrencies, stablecoins, and utility tokens, and can be minted, transferred, and burned according to the rules enforced on-chain. Solana's high throughput and low fees keep these tokens scalable and efficient, while the extension framework lets issuers build additional logic — such as fees — into the token itself.
Ownership Privileges
There are no Ownership Privileges. This ensures that the Minting Authority and Freeze Authority have been revoked. The Update Authority has also been revoked, and the token metadata is set to isMutable = false, preventing further modifications to the metadata.
However, this token is not a plain minter-created token — it uses the Token-2022 Transfer Fee extension, which represents an ongoing mechanic investors must be aware of:
- Transfer Fee: 5% (500 basis points) is deducted on every transfer, up to a maximum of
10,000,000,000base units per transaction (the human-readable cap depends on the token's decimals). - Transfer Fee Config Authority: Revoked (NULL) — the fee rate and maximum are locked and can no longer be changed.
- Withdraw Withheld Authority: Active — the address
7FPebv1f8xd4cFsykhZR4KVVk1tWKEhwoLxbFtdEVLW9retains the ability to withdraw the transfer fees withheld by the program from token accounts.
Note - This audit report consists of a security analysis of the Token-2022. This analysis did not include functional testing (or unit testing) of the token’s logic. Furthermore, we only audited one token contract associated with this project. Other contracts related to this project were not audited by our team. We recommend investors conduct their own research before engaging with the token.