Is CVX Safe? Convex Token Security Scan
Introduction
The Convex Token CVX has a trust score of 75, an A trust grade, a 25% scam probability, and a significant risk of supply inflation due to its mintable nature. Notably, it's currently trending, drawing attention to its security and legitimacy.
What the scan found
The scan of Convex Token CVX revealed several key findings. The token has a trust score of 75 and a trust grade of A, indicating a relatively high level of security. However, there is a 25% scam probability, which should be taken into consideration. The contract is mintable, meaning new tokens can be created, but it is not freezable. The ownership of the contract has been renounced, and the contract source code is verified. There are no taxes on buying or selling the token. The liquidity of the token is $178,817, with 0% of the tracked liquidity locked. The token has 31,394 holders, with the top 10 holders controlling 69.6% of the supply.
What this means for you
For someone considering investing in Convex Token CVX, these findings have important implications. The mintable nature of the contract poses a risk of supply inflation, which could negatively impact the token's value. Additionally, the high concentration of ownership among the top 10 holders could lead to price volatility. On the other hand, the verified contract source code and the relatively high liquidity depth are positive signals. The fact that the ownership has been renounced suggests that the developers have given up control of the contract, which could be seen as a positive step towards decentralization. This analysis is based on automated on-chain analysis and should not be taken as financial advice. For more information, please see the full live scan of Convex Token CVX. To learn more about token security and how to protect yourself from potential risks, visit our token security checklist and use our free scanner tool to evaluate the security of other tokens.