The Basics of Griffain
Before we get into the nitty-gritty, here are the key details about Griffain:
Risk Analysis: What We Found
We reviewed Griffain across multiple criteria to understand its risk profile. Here’s what stood out:
1. Open Source
✅ Yes, it’s open source.
Transparency matters, and open-source contracts are a strong positive. Developers allow anyone to verify the code for security and functionality.
2. Minting Capability
✅ Minting is disabled.
No one can create new tokens at will. This ensures Griffain’s total supply stays fixed, reducing inflation risk.
3. Metadata Security
✅ Immutable metadata confirmed.
Immutable metadata means the token's fundamental details (like name and supply) cannot be changed. It’s a safeguard against tampering.
4. Freeze Authority
✅ Freeze authority has been revoked.
This ensures no one can freeze your tokens or prevent transactions without permission.
5. Liquidity Pool Burn
🔥 97.09% of the liquidity pool is burned.
This means most liquidity provider (LP) tokens are destroyed, reducing the likelihood of a rug pull. Rug pulls happen when developers withdraw liquidity, leaving investors stuck.
6. Top 10 Holders
⚠️ Top holders control 14.81% of the supply.
The top 10 wallets collectively own almost 15% of all GRIFFAIN tokens. While this isn’t unusually high, it still poses a risk. If these holders sell large amounts, it could affect the token’s price.
Liquidity Pool Details
Griffain trades in two key liquidity pools:
1. Raydium Pool- Liquidity: $5.05 Million
- 24-Hour Volume: $47.89 Million
- Create Date: November 3, 2024
- LP Burned: 97.09%
- Liquidity: $411,230
- 24-Hour Volume: $12.86 Million
- Create Date: December 12, 2024
- LP Burned: Not Burned
What does this mean?
The majority of liquidity is in the Raydium pool, where LP tokens are burned. However, the Meteora pool doesn’t offer the same security, making it a potential vulnerability.
Strengths of Griffain
- Secure Contract: Griffain checks all the boxes for a secure token: open source, no minting, and immutable metadata.
- Burned Liquidity: With 97.09% of LP tokens burned in Raydium, the risk of a rug pull is significantly reduced.
- Transparency: The project is backed by a professional-looking website and active social media presence. This helps build trust in the community.
Potential Concerns
- Concentration of Supply: The top 10 holders own nearly 15% of the token supply. If a few of them decide to sell, it could create a significant price drop.
- Unburned Liquidity in Meteora: The Meteora pool’s LP tokens are not burned. This leaves room for potential manipulation in that pool.
- Limited Market Cap Details: Griffain’s total valuation and market cap details aren’t easily accessible. Investors need this information to make informed decisions.
Griffain Safety Score
Based on our analysis, Griffain earns a 7.8/10 on our safety scale:
- 9-10: No risks detected
- 7.5-8.9: Low risk (exercise some caution)
- 5.0-7.4: Medium risk (proceed only if you’re aware of the risks)
- 0-4.9: High risk (avoid interaction)
Final Verdict: Griffain poses a low risk. However, investors should still exercise caution, particularly due to unburned LP tokens in Meteora and the concentrated supply.
Should You Invest in Griffain?
Griffain shows promise. Its security measures and strong liquidity burn in Raydium make it a safer bet than many other tokens.
But, as always, there are risks. Concentrated holdings and unburned liquidity in Meteora are areas to watch closely.
If you decide to invest, start small. Monitor the token's activity and stay updated on any project developments.
Final Thoughts
Griffain is a decent option for those seeking exposure to Solana-based tokens. Its transparent contract and burned liquidity inspire confidence.
Still, no investment is without risk. Always do your homework before putting money into any crypto project.
Got questions about Griffain? Drop them in the comments and if you are looking for a full detailed report of this token contact us here.
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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.