iK Coin

Smart Contract Audit Report

Audit Summary

iK Coin is building a new BEP-20 token.

For this audit, we reviewed the project team's IKCOINToken contract at 0x9374062f53B0A8c9215c476437989142838F97A7 on the Binance Smart Chain Mainnet.

Audit Findings

Please ensure trust in the team prior to investing as they have some control in the ecosystem. The team receives 100% of the total supply upon deployment.
Date: April 8th, 2022.

Finding #1 - IKCOINToken - Informational

Description: The constructor requires an address parameter that is never used.
Recommendation: We recommend removing this to save on deployment costs if it is not needed for future functionality.

Contract Overview

• The initial total supply of the token is set to 1.5 Billion $iKC [1,500,000,000] and will be minted to the owner upon deployment.
• The owner can mint any amount of tokens to themselves at any time, as long as the amount minted does not exceed the cap of 10 Billion $iKC.
• The owner is intended to be a crowdsale contract. The crowdsale contract is not included in the scope of this audit, so we cannot provide an assessment in regards to security.
• Any user can burn their own tokens to reduce the total supply.
• Any user can burn tokens on another user's behalf if an allowance has been granted.
• At the time of writing this report, there are 5,016 total token holders. The token allocation is as follows: 
  • 93.07% of the total supply belongs to the owner, which is an unverified contract.
  • 4.38% is owned by a single wallet.
  • The next five holders own a cumulative 1.59% of the total supply.

• There are no fees associated with transferring tokens.
• The contract utilizes SafeMath to prevent overflows.
• The contract complies with the BEP-20 token standard.

Audit Results

Inheritance Chart

Function Graph

Functions Overview

 ($) = payable function
 # = non-constant function
 
 Int = Internal
 Ext = External
 Pub = Public

 + [Int] IBEP20 
    - [Ext] totalSupply
    - [Ext] decimals
    - [Ext] symbol
    - [Ext] name
    - [Ext] getOwner
    - [Ext] balanceOf
    - [Ext] transfer #
    - [Ext] allowance
    - [Ext] approve #
    - [Ext] transferFrom #

 +  Context 
    - [Int]  #
    - [Int] _msgSender
    - [Int] _msgData

 + [Lib] SafeMath 
    - [Int] add
    - [Int] sub
    - [Int] sub
    - [Int] mul
    - [Int] div
    - [Int] div
    - [Int] mod
    - [Int] mod

 +  Ownable (Context)
    - [Int]  #
    - [Int] owner
    - [Pub] renounceOwnership #
       - modifiers: onlyOwner
    - [Pub] transferOwnership #
       - modifiers: onlyOwner
    - [Int] _transferOwnership #

 +  IKCOINToken (Context, IBEP20, Ownable)
    - [Pub]  #
    - [Ext] getOwner
    - [Ext] decimals
    - [Ext] symbol
    - [Ext] name
    - [Ext] totalSupply
    - [Ext] balanceOf
    - [Ext] transfer #
    - [Ext] allowance
    - [Ext] approve #
    - [Ext] transferFrom #
    - [Pub] increaseAllowance #
    - [Pub] decreaseAllowance #
    - [Pub] mint #
       - modifiers: onlyOwner
    - [Int] _transfer #
    - [Int] _mint #
    - [Pub] burn #
    - [Int] _burn #
    - [Int] _approve #
    - [Pub] burnFrom #

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What is a SourceHat Audit?

Typically, a smart contract audit is a comprehensive review process designed to discover logical errors, security vulnerabilities, and optimization opportunities within code. A SourceHat Audit takes this a step further by verifying economic logic to ensure the stability of smart contracts and highlighting privileged functionality to create a report that is easy to understand for developers and community members alike.

How Do I Interpret the Findings?

Each of our Findings will be labeled with a Severity level. We always recommend the team resolve High, Medium, and Low severity findings prior to deploying the code to the mainnet. Here is a breakdown on what each Severity level means for the project:

• High severity indicates that the issue puts a large number of users' funds at risk and has a high probability of exploitation, or the smart contract contains serious logical issues which can prevent the code from operating as intended.
• Medium severity issues are those which place at least some users' funds at risk and has a medium to high probability of exploitation.
• Low severity issues have a relatively minor risk association; these issues have a low probability of occurring or may have a minimal impact.
• Informational issues pose no immediate risk, but inform the project team of opportunities for gas optimizations and following smart contract security best practices.

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