$INIT (initialized or newly launched) crypto token to assess its legitimacy
1. Token Basics
Name and Symbol: Easily verifiable, no impersonation.
Contract Address: Check on a block explorer like Etherscan or BscScan.
Blockchain: Ethereum, BNB Chain, Solana, etc.
2. Contract Verification
Source Code Verified: Verified contracts are transparent.
Readability: Check if you can read the functions like transfer, approve, etc.
Audit: Look for audits from reputable firms (e.g., Certik, PeckShield).
3. Tokenomics
Total Supply: Is it fixed or mintable?
Initial Distribution:
Fair launch or presale?
Team allocation, vesting schedule?
Burn or Deflation Mechanism: Helps reduce supply.
4. Ownership and Control
Is the Contract Renounced?
If not renounced, the deployer might still control functions like minting or blacklisting.
Owner Functions: Check for risky ones like mint, setFees, blacklist.
5. Liquidity & Trading
Liquidity Locked?: If not locked or burned, devs could rug-pull.
DEX Trading: Check if it's tradable on decentralized exchanges.
Slippage & Fees: Excessive buy/sell taxes are red flags.
6. Community and Marketing
Website & Whitepaper: Professional, original content?
Social Media: Active, transparent communication?
Telegram/Discord Activity: Real community or bots?
7. Red Flags
Huge supply with no burn mechanism.
Unverified or overly complex contracts.
Anonymous team with no history.
"Too good to be true" promises.
Fake audit badges or plagiarized whitepapers.
Would you like to analyze a specific token? If you have the comments ....
