Thread by @RobotDefi

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

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@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.

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@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...

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@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....

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@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.

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@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.

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@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..

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@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...

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@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.

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@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.

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@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).

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@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.

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@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.

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@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).

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@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.

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@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

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