NFTipper logo NFTipper logo
 

Cardence Token Review

Cardence

Date Started
2021-08-17
Active
Yes
Honeypot?
Possible
Smart Contract Code Structure
Obscure
Ownership Renounced?
No
Whales Spotted?
Yes
Over-all Ratings
Bad
Conclusion
High Risk of getting RUG-PULLED




Cardence Token Review + Smart Contract Audit Summary



Cardence started 2021-08-17 and it's currently active, based on the in-depth smart contract audit from different sources and upon checking it's website and other instances like the developers behind this project we can obviously tell based on it's over-all ratings which is Bad and has a HUGE RISK of getting RUG-PULLED.

The basis of our audit came from different areas like how professionally done was their website, their roadmap if it is being followed diligently, social media pages, mission and vision as well as their whitepaper that you can find on their website www.cardence.io, also we use verified and well established auditing tools like honeypot.is wherein this NFT was found out that it is a POSSIBLE honeypot trap wherein the smart contract dictates that you can buy but you cannot sell it in the future, although at some point there are others sneaky developers that enable the "selling" feature but after some time they disable it once lots of investors already dive-in.

We have a way of detecting that kind of trick and for this token Cardence we can absolutely tell that it has a high possibility of being a honeypot trap, our basis lies on their Smart Contract Code Structure which is OBSCURE and contains malicious codes in nature, only scammers with unreadable and obscure codes have had the bad intentions to do something fishy in the long run, another thing to take note is if the ownership of the token is either renounced or not, for this token, the answer is No.

Another basis we are considering if a token is risky of getting rug pulled is if there are whales spotted on the holders, whales refers to those individuals or entities that hold large shares or percentage of the token Cardence wherein they have the potential to manipulate price actions and volatility of the token Cardence, so for this token the answer is Yes it has whales.

Therefore we conlude that this token has a High Risk of getting RUG-PULLED in the future, this is not a financial advise, it's always up to you to invest or not on this token, we are here only to give our insights based on the evidences and calculations we made on the smart contract of Cardence. So Goodluck and have a safe and happy investing!

Checked using Professional Smart Contract Auditing Tools



Bscheck.eu: 0xFa17b330bCC4e7F3E2456996d89A5a54AB044831


Honeypot.is: 0xFa17b330bCC4e7F3E2456996d89A5a54AB044831




Cardence Smart Contract Audit Details



Description:

Cardence is a multichain community led decentralized IDO launchpad launching or Cardano, Kucoin Community Chain , BSC, Polygon and Solana.

 

---

 

Audit Details

 

Audited project: Cardence

Deployer address: 0xD8eC219Ce7Bd7FF8D8c974EC28B3d5e02C5d96cF

Client contacts: Cardence team

Blockchain: Binance Smart Chain

Project website: www.cardence.io

 

---

 

Cardence Token Distribution

 

Cardence Token Distribution

 

---

 

Issues Checking Status

 

Issues Checking Status

 

---

 

Security Issues

 

 High Severity Issues

 No high severity issues found.

 

 Medium Severity Issues

 No medium severity issues found.

 

 Low Severity Issues

1. Wrong minting

Issue:

• The function _mint() do not increase total supply when minting tokens and do not set total cap to prevent unlimited minting. (In the period when the owner is not renounced)

Recommendation:

Do not forget to increase total supply and set max value.

 

2. Wrong owner unlock

Issue:

• Owner can lock ownership. But the unlock function is allowed to call only by the owner, since the owner is zero address, nobody could call this function.

Recommendation:

Change unlock’s function access modifier.

 

Owner privileges (In the period when the owner is not renounced)

• Owner can freeze and unfreeze accounts.

 

---

 

Conclusion

 

Smart contracts contain low severity issues!

Liquidity locking details provided by the team:

“We have locked all tokens belonging to these categories.

1. Team Tokens

2. Advisors

3. Partnership

4. Marketing.

Locking was done on team.finance and can be seen here :

https://team.finance/viewcoin/0xFa17b330bCC4e7F3E2456996d89A5a54AB044831?name=Cardence&symbol=$CRDN

Details of the lock has been updated here. You can have a look.

https://docs.google.com/spreadsheets/d/1j6gBmbPFoBo9mEzGhcuATaVNZekIHBAFjYPq7f-bBOY/edit?usp=sharing

Tokens belonging to these categories are still unlocked as they will be utilized in listing and staking.

1. Liquidity : To be used in listing of token on DEX and CEX

2. Liquidity Mining : To be used in our staking rewards. These tokens will be sent to a smart contract which will govern it.”

 

---

 

Source: https://github.com/TechRate/Smart-Contract-Audits/blob/main/Cardence%20Full%20Smart%20Contract%20Security%20Audit.pdf

.

RELATED NFT's

A list of related NFT's. The following list contains the top latest NFT's and new token crowdsales for crypto investors, as well as this list provides a glimpse overview to indicate which NFT is a suitable/worthwhile for an investment.

Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine