I use BNB Chain’s DappBay, a decentralized application developed by BNB Chain.
I use it to check the security of the BOB token.
Interestingly, the test result honestly labeled BOB as “high risk”, and I laughed when I saw it because I immediately realized yes, it’s marked high risk simply because BOB hasn’t undergone paid security audits from platform like Certik, GoPlus, or Hashdit.
If they had paid, the indicator would surely say “No Risk.”
So in truth, that high risk label doesn’t come directly from BNB Chain it come from these external auditor.
What truly matter is whether the developer have any hidden access to liquidity that could allow them to manipulate or drain it illegally.
Plenty of token have passed security audit but were still dump by their own dev.
Now, let’s look at two crucial indicator Top 10 Holder and Top 10 LP Holder.
They clearly show:
The #1 token holder is Binance Alpha Wallet.
The #1 LP holder is a dead wallet.
This confirm that BOB use a Liquidity Burn (LP Burn) mechanism.
Any experienced programmer knows when a token has LP Burn, the dev cannot remove liquidity, which means BOB is fundamentally safe from developer induced dump.
liquidity added by the dev, all fee reward are automatically burn.
So I hope you can now clearly and intelligently understand what this all mean.
Let me now show you another project marked as “No Risk” simply because they paid for a smart contract audit.
But when you check the Top 10 holder and LP holder, you’ll see a huge red flag their LP is not locked at all 0% locked token.
This is extremely danger.
I always been honest in everything I write even before others realized what was happening, I was already revealing everything about BOB. I never hidden anything.
I could have stayed silent, pretended not to know about the risk evaluation dApp officially release by BNB Chain.
But there was a call from my conscience as if BNB Chain itself was sending me a message to speak truth about BOB Build On BNB, using the very dApp that BNB Chain created, so that everything would be transparent.