Analyzing the Centralization Risks of TipCoin ($TIP)

2 Minutes Read

MetaTrust Labs

MetaTrust Labs


The owner of $TIP is an EOA address holding 65% of tokens, here are some centralization risks you should care.

MetaTrust Labs checked and scanned the trending token $TIP's contract address 0x0176b898e92e814c06cc379e508ceb571f70bd40. This report summarizes the security assessment, analyzing the key centralized roles, functionality, token distribution, and provides recommendations to improve the overall security posture of the contract.

Contract Address


Centralized Roles

  • Owner: 0x34c6F1Ea29156ddcaEd5f9df9035195A5F279738

  • Sell fee: 5%

  • Buyer fee: 5%

  • Tax Wallet: 0x902D9627f7cA78Eb6A8cd5368B899eE934998915 - Currently has accumulated 269.7 ETH (worth $436,800)

Centralized Functionality

The owner has sole authority over critical functionality like enabling trading, setting fees, withdrawing funds, and more.

  • enableTrading: This function allows the owner to enable trading for the contract. When trading is enabled, buying and selling of the token are allowed. This function also sets tradingEnabled and swapEnabled flags to true.
  • excludeFromFees: The owner can use this function to exclude or include addresses from fees. This is typically used to exempt certain addresses from transaction fees.
  • setAuthorizedEditor: The owner can set or revoke authorized editor status for specific addresses. Authorized editors likely have special privileges within the contract.
  • excludeFromMaxTransaction: The owner can exclude or include specific addresses from maximum transaction limits. This is used to set exceptions to the maximum transaction amount for certain addresses.
  • setMarketMakerPair: The owner can set whether a given pair address is considered a market maker pair. Market maker pairs might have different rules or restrictions compared to regular addresses.
  • removeLimits: This function allows the owner to remove certain limits that are active in the contract. This could include transaction amount limits and wallet balance limits.
  • send: The owner can use this function to send funds from the contract to a designated tax wallet address.
  • lowerTaxes: Authorized editors can use this function to lower the buy and sell fees. It checks that the caller is an authorized editor and that the new fees are lower than the current ones.
  • lowerSwapThreshold: The owner can lower the swapTokensThreshold, which determines the amount of tokens needed in the contract to trigger a swap operation.
  • addLiquidity: The owner can add liquidity to the contract by providing ETH. This function is typically used during the initial setup of the contract to provide liquidity for trading.

Token Distribution

The top 4 addresses hold 80.3% of the total token supply. The owner (0x34c6) holds 65% of the supply. piic.png

Security Recommendations

The owner (0x34c6) is an EOA address holding 65% of tokens. It is recommended to replace the owner with a multi-sig wallet contract to mitigate the risks associated with a single address holding a majority of the supply.

About Us

At MetaTrust, our primary focus is on creating a secure infrastructure that caters to the needs of developers in the WEB 3.0 space. We offer an array of AI-Driven automation tools and security services to assist Web3 developers and project stakeholders in achieving a secure development environment.

Website || Twitter || Discord || Try MetaScan for FREE

Share this article