Links

Is EG Token SAFU ?

Holders are encouraged to conduct thorough research before engaging with any cryptocurrency project. At EG, we prioritize transparency and have utilized various channels to educate our audience about the EG Token. These include:
  • Making our code public
  • Auditing all of our software and making results public
  • Writing articles such as this to enhance transparency about financials.
But there are some key aspects which must be taken into consideration when assessing the safety of any project. These are just some statistics which are collected by Token Sniffers/Scanners in DeFi.
Having a
against a check isn't necessarily a bad thing given you can provide a reasonable explanation for it, and we think its been done in our case below.
You won't find many projects going to this level of detail about their own project but we feel its something every project must do:
Check
Yes/No
Explanation
Token is sellable (not a honeypot)
N/A
Buy fee is less than 5%
N/A
Sell fee is less than 5%
N/A
Transfer fee is less than 5%
N/A
Tax cannot be modified to any amount
Max cap of 10%
Owner cannot change token balance for users
N/A
Verified contract source
N/A
Should not be able to blacklist a wallet
Our v2 contract incorporates a wallet blacklisting feature, implemented for the primary purpose of ensuring user safety, driven by two key considerations:
  1. 1.
    Mitigating Legacy Risks: The original EG v1 contract was developed by an anonymous individual who maintained a significant portion of the token supply, distributing it among others. While a substantial amount of these tokens were eventually sold for profit, some sizable wallets retained a considerable supply. To protect our holders from potential market dumps by these wallets, they have been blacklisted in EGv2.
  2. 2.
    Security Measures Against Exploitation: In the event of a security breach, such as a hacking incident or exploitation of our contract, we have the capability to halt wallets involved in unauthorized transactions. This measure is designed to prevent the illicit sale of tokens and protect user funds.
When a wallet is blacklisted under these circumstances:
  1. 1.
    Trading Restrictions: The blacklisted wallet is restricted from both buying and selling activities.
  2. 2.
    Limited Transfer Permissions: Transfers are limited to the EG contract owner exclusively (so these tokens can be returned to us and not anyone else); any attempt to transfer tokens to other addresses will result in failure.
  3. 3.
    Restricted Inbound Transfers: Other users are prevented from transferring tokens to the blacklisted wallet.
It's important to note that this blacklisting feature is purely a security precaution. As the team gains confidence in the token's stability and market conditions, we plan to reassess and consider the removal of this feature in the future. All blacklistings are publicly visible on the blockchain and in the year since EG v2 has been Live, no genuine holder has been blacklisted.
Contract is not upgradeable
Our token incorporates a proxy contract (upgradeable contract), providing us with the flexibility to make necessary adjustments in response to unforeseen security issues or changes in market conditions that may necessitate appropriate action. It is crucial to clarify that, despite this flexibility, certain functionalities are explicitly restricted by the contract.
Specifically, the contract prohibits the ability to pause trading or mint additional tokens. This deliberate restriction is in place to uphold the integrity of the token's supply and trading dynamics.
An illustrative instance of this restriction occurred in the V1 version of our token when PancakeSwap altered their router. Unfortunately, the V1 smart contract couldn't be updated to accommodate this change in the router, highlighting the challenges associated with modifying certain aspects of the contract. Read below for more information - https://hacken.io/discover/upgradeable-smart-contracts/
Ownership renounced or source does not contain an owner contract
We cannot renounce ownership due to the way our tokens works (collecting fees, withdrawing them from contract, sending it to all of our public wallets etc)
Owner wallet contains less than 5% of circulating token supply
N/A
Creator wallet contains less than 5% of circulating token supply
N/A
All other holders possess less than 5% of circulating token supply
N/A
Adequate current liquidity
N/A
Adequate initial liquidity
N/A
At least 90% of liquidity burned/locked for at least 30 days
60% of our liquidity is locked on PancakeSwap. The unlocked portion will be moved to EGSwap/Other Blockchains when we deploy to ETH/Arbitrum etc when its ready, hence the reasons why its unlocked.
Owner wallet contains less than 10% of liquidity
With altcoins, its mostly owners who provide majority of the liquidity, so this is fine. Once we lock liquidity for a long time, this won't be an issue.
Creator wallet contains less than 5% of liquidity
N/A
Smart Contract is Audited with no critical/major bugs outstanding
N/A