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Audit Report

SPEAKEASY $DRINKS
  • Security Score :  10/10
  • Tags :  token, upgradeable
  • Address :  0xF50f1a0c74976F9d4C8d9E7FBdE06710692B9731
  • Blockchain :  BNB Smart Chain
  • Website :   https://thespeakeasy.ltd

EXECUTIVE SUMMARY

Speakeasy is a decentralized finance application on the Binance Smart Chain. It offers a staking mechanism where users can lock their cryptocurrency assets in a pool, with an aim of earning potential passive income.

This token is a new product by Speakeasy. The $DRINKS token is intrinsically tied to the Speakeasy ecosystem, serving as a utility token within it. It is backed by the Speakeasy Treasury. A notable feature of the token is a 2% tax levied on all transfers, with the collected fees directed to the Speakeasy's designated "bank" account.

During our audit, we haven't identified any backdoors or vulnerabilities within the smart contract. Few issues were flagged, however, the deployer team efficiently resolved them following our notification.

SCOPE

  1. The audit focuses the token's implementation on the BNB Smart Chain.
  2. The Liquidity Pool token was verified as deployed by PancakeSwap Factory. It is 100% owned by Speakeasy's Multisig.
  3. The audit does not cover any off-chain components or systems associated with the contract.
  4. The audit does not cover any user interfaces or user experience associated with the contract.
  5. The audit does not cover any legal or regulatory compliance of the contract.
  6. The audit only covers the implementation contract as it is an upgradeable contract.
  7. The owner has the capability to upgrade the contract, an action that would render this audit null & void.

FUNDAMENTALS

Symbol: $DRINKS. Supply: 1 billion $DRINKS. Decimals: 18.

This is a token smart contract which comes with a 2% fees on all transfers, except excluded accounts.

The distribution of the $DRINKS token is divided into three allocations. Firstly, 475 million tokens are committed to the Pancakeswap liquidity pool to facilitate market transactions. Secondly, an identical quantity of 475 million tokens is set for the staking contract. Lastly, 50 million tokens are dedicated to the team, marketing, and any other operational expenses.

UNIT TESTS

INTERACTION RESULT
[CPUT-1] transfer with fees OK
[CPUT-2] transfer without fees OK
[CPUT-3] approve OK

All unit tests were successfully executed during our audit process.

PRIVILEGES

  1. liquidityOwner
    • Can change transfer fees, up to 10%.
    • Can exclude an account from transfer fees.
  2. owner
    • Can upgrade the contract to a new implementation.

RECOMMENDATIONS

This smart contract is upgradeable. While this offers flexibility and adaptability, it also introduces risks such as potential centralization of power and increased complexity.

If improperly governed, this feature could potentially be misused, leading to unfavorable alterations to the contract.

As such, robust governance measures, transparency, and clear communication are crucial to mitigate these risks. We also recommend the implementation of multisig to guard the upgradability of the contract.