ApeCoin / Smart Contract Analysis

Attention: I'm moving my blog/newsletter out of LinkedIn. Find the article on the new page here: https://www.decentech.io/apecoin-smart-contract-analysis/

Short and sweet but did you know that the image you see above is the source code $APE (ApeCoin)? It only takes 17 lines (could be as little 3-4 if we take out the extra space) and that is it. 17 lines and a currency was created that has been shaking the NFT and DeFi world over the last few weeks.

How was Apecoin minted?

You can see in line 14 that as soon as the contract was created (the function is called "constructor" because it creates the contract), the entire supply (totalSupply_) was minted to whoever called the contract.

This is the transaction that created the contract and who received the entire supply: https://etherscan.io/tx/0x2761f74e2f45d981a9d7553cbbcfbcc862cae416eb37a820300d4c19516d6fca

So can someone mess with this contract?

No, the contract is set in stone. Someone can however mess with the circulation of the coins - because they can move around. But no, the contract itself is solid and simple.

Does this give me any safety?

Not really, it just shows how simple a token can be. Safety is more related to the humans that hold the tokens. The tech site is simple. :)?

Find the source of Apecoin here.

#nft #web3 #apecoin $APE