On-chain "Audit" of PLAYA3ULL GAMES @PLAYA3ULL
My partner in on-chain P.I. work @0xLosingMoney has been getting a lot of requests for an on-chain look into projects...and he can't really handle ALL of them. So I'm giving him a hand.
Let's dive into $3ULL
🕵️♂️/1
@PLAYA3ULL @0xLosingMoney First and foremost I need to state the following:
I am NOT a Solidity developer, so my knowledge on what to look for in a #smartcontract is limited.
Also, this is not a deep dive into the project, but only a look at potential security issues.
🕵️♂️/2
@PLAYA3ULL @0xLosingMoney OK, the first place I always start is @Token_Sniffer
The contract scores a 60/100...which is actually really good. The only issue is that the liquidity isn't locked.
Yes, locked liquidity DOES protect from #rugpulls BUT...
🕵️♂️/3
@PLAYA3ULL @0xLosingMoney @Token_Sniffer MOST rugs are pulled within the first day or week of launch.
Also, this is a V2 contract, so the lack of liquidity lock isn't uncommon as they've already had to transition tokens from another contract.
moving on....
🕵️♂️/4
@PLAYA3ULL @0xLosingMoney @Token_Sniffer Next we'll look at the bubble map. This one doesn't tell us much as there aren't a WHOLE lot of holders...but since @0xLosingMoney loves the feature so much, I had to include it.
🕵️♂️/5
@PLAYA3ULL @0xLosingMoney @Token_Sniffer Next, we look to see if there is an audit.
And THERE IS! From @CertiK too!
The audit passes with high marks, with only 2 major issues that have been mitigated.
🕵️♂️/5
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK The issues were major controls from contract roles, and the mitigation was the implementation of a Gnosis safe.
It's only 2/3 multisig, which could be more secure, but it's definitely better than nothing..
🕵️♂️/6
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK Next we look at the contract itself. Again, I'm not a Solidity developer, but I didn't find anything glaringly fishy.
There was only one modifier for onlyOwner (this is normal) and no shady functions or if/else statements.
So now we can look at the holders...
🕵️♂️/7
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK Top three holders are contracts. I believe the largest one is the node contract, then we have the Gnosis safe and finally the LP.
The only concern I have here is that 15% of the total supply is owned by 4 private wallets.
🕵️♂️/8
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK This isn't a huge deal and doesn't reflect on the protocol...just good to be aware that if they chose to dump or are all controlled by the same person and he/she chose to dump it would have significant impact on price.
🕵️♂️/9
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK Also, I can't say for certain if any of those wallets are controlled by the protocol because they did not include a pie-graph with allocations in their tokenomics (tsk tsk).
🕵️♂️/10
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK Next, taking a look at the contract creator's address (just to make sure there isn't any fishy behavior there) I found nothing strange at all.
Every txn looked like a legitimate interaction with the Playa3ull contract.
🕵️♂️/11
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK Now we can move on to the website.
First, note that the team IS #doxxed
They all seem to have a direct email and LinkedIn profile connected.
🕵️♂️/12
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK We can also see that the domain was purchased in Dec 2021, so it wasn't bought and site popped up within days of launch (this is a good sign).
🕵️♂️/13
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK Finally, the company claims to be located in Australia, and is, in fact, hiring talent in Australia.
This is a very good sign as well.
The evidence points to this being a legitimate project with no glaringly obvious security issues.
🕵️♂️/14
@PLAYA3ULL @0xLosingMoney @Token_Sniffer @CertiK For anyone who has invested or is considering investing, this is #NFA and definitely #DYOR but from my limited knowledge and incredibly skeptical point of view I give $3ULL a passing grade.
Cheers
🕵️♂️/finis
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.