Let’s talk about Fartcoin.
This token on Solana has been making waves with its liquidity and security features. But how safe is it?
Here’s a deep dive into its structure, risks, and overall safety score. Stick around—you’ll want to know before making any investment decisions.
Quick Facts About Fartcoin
Here’s the essential data you need to know:
- Blockchain: Solana
- Token Name: Fartcoin
- Symbol: Fartcoin
- Total Supply: ~1 Billion
- Decimals: 6
- Token Type: SPL Token
- Contract Address: 9BB6NFEcjBCtnNLFko2FqVQBq8HHM13kCyYcdQbgpump
On the surface, it looks solid. But as we dig deeper, things get interesting.
Security Analysis
When analyzing a token, it’s critical to check its security features. Here's how Fartcoin stacks up:
1. Open Source Code
✅ Yes, it’s open source.
Open-source projects are great. They let the community inspect the code and identify vulnerabilities. This transparency is a big plus.
2. Minting Capability
✅ No minting detected.
Fartcoin cannot mint new tokens, meaning the supply is fixed. This helps prevent inflation or manipulation.
3. Metadata Security
✅ Immutable metadata is confirmed.
Immutable metadata ensures that key token details, like its name or supply, can’t be altered. This adds an extra layer of protection.
4. Freeze Authority
✅ Freeze authority has been revoked.
This means no one can freeze transactions arbitrarily. It’s another win for investors.
5. Liquidity Pool Burn
🔥 98.91% of the liquidity pool is burned.
Liquidity pool burning helps protect against rug pulls, where developers pull out liquidity, leaving investors stranded. Fartcoin scores well here.
Liquidity Pools: The Backbone of Fartcoin
Fartcoin has two primary liquidity pools:
1. Raydium Pool- Liquidity: $15.13 Million
- 24-Hour Volume: $135.94 Million
- LP Burned: 98.91%
- Created On: October 18, 2024
2. Meteora Pool
- Liquidity: $1.05 Million
- 24-Hour Volume: $45.31 Million
- LP Burned: Not burned
- Created On: November 17, 2024
Here’s the concern: While the Raydium pool is secure with most of its liquidity burned, the Meteora pool lacks similar safeguards.
Red Flags: Incrementable and Modifiable Rates
Not everything about Fartcoin is rosy.
The sell rate is set to 99%, making it extremely difficult to sell the token. This can trap investors—a tactic known as a honeypot.
Additionally, incremental issues allow dynamic modification of rates. This introduces uncertainty and raises risks for potential buyers.
Top Holders and Distribution
Fartcoin has no major top holders, with the top 10 controlling 0% of the supply.
While this may seem good on the surface, it’s crucial to remember that variable sell rates and liquidity risks can still pose significant challenges.
Safety Rating
After reviewing all aspects of Fartcoin, here’s how it rates:
Final Safety Score: 6.5/10
Risk Level: Medium
Interact with this token only if you understand the risks involved.
The Verdict: Should You Buy Fartcoin?
Fartcoin has some strong points:
- It’s transparent.
- Liquidity in Raydium is mostly secure.
- There’s no minting risk.
But the concerns are hard to ignore:
- The 99% sell rate could trap investors.
- Liquidity in Meteora lacks protection.
- Incrementable rates add unpredictability.
If you’re considering Fartcoin, do your research and proceed with caution.
Final Thoughts
Fartcoin shows potential, but it’s not without its flaws.
If you’re willing to take on medium risk, it could be worth exploring. But always stay vigilant—understanding the risks is half the battle in crypto investing.
Want more insights? Check out our latest token reviews and stay one step ahead in the crypto world.
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Disclaimer: The information found on Blockospot is for educational purposes only. It does not represent the opinions of Blockospot on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.