Is DRV Safe? Derive Security Scan
Introduction
Derive has a trust score of 70, a trust grade of A, and a scam probability of 30%, with the top 10 holders controlling 89% of the supply, which is a significant risk factor. Notably, Derive is currently trending, drawing attention to its security profile.
What the scan found
The on-chain security scan of Derive (DRV) on the Ethereum (ERC-20) chain found several key points. The token has a trust score of 70 and a trust grade of A, indicating a relatively high level of trustworthiness. However, there is a 30% scam probability, which is a notable risk. The scan also detected no honeypot signal, and there are no taxes on buying or selling. The contract is not mintable and not freezable, with ownership renounced and the contract source code verified. The liquidity is $27,930, with 0% of tracked liquidity locked, and there are 55,939 holders. The top 10 holders control 89% of the supply, which is a significant concentration of ownership.
What this means for you
For someone considering Derive, the high concentration of ownership among the top 10 holders is a significant risk factor, as it could lead to price manipulation. On the other hand, the verified contract source code, lack of mint function, and large number of holders are positive signals. The low liquidity depth of $27,930 is also a risk factor, as it could lead to large price swings.
This analysis is based on automated on-chain analysis and should not be considered as financial advice. For more information, please visit the full live scan of Derive. You can also use our free scanner to check the security of other tokens. To learn more about token security, please refer to the full token security checklist.