The world of cryptocurrency is full of opportunities, but it’s also filled with risks. One of the tokens currently making waves is YesNoError (YNE), an SPL token running on the Solana blockchain. In this detailed analysis, we’ll take a deep dive into YNE’s technical features, liquidity pools, risk factors, and more. By the end, you’ll have a clear understanding of whether this token is worth your attention.
Quick Facts About YesNoError (YNE)
Here’s a quick overview of YNE to get you started:
Risk Analysis: What’s the Safety Score of YesNoError?
Before diving into whether YesNoError is a good investment, let’s take a look at its security and risk factors.
1. Open Source
✅ Yes, the token’s contract is open-source.
Open-source tokens are generally safer because the code is available for community inspection. This transparency allows developers and experts to spot potential vulnerabilities, reducing the chances of hidden risks.
2. Minting Capability
✅ No minting capability.
The fact that no new tokens can be minted ensures there won’t be any unexpected inflation. This is a positive point for investors as it keeps the token supply fixed and predictable.
3. Immutable Metadata
✅ Yes, the metadata is immutable.
Once metadata is set, it cannot be changed. This ensures that the fundamental properties of the token remain unchanged and trustworthy over time.
4. Freeze Authority
✅ Freeze authority has been revoked.
In the case of many tokens, there’s a central authority that can freeze transactions. In YesNoError’s case, the freeze authority has been revoked, meaning no one can stop or block your transactions. This is a good sign for those concerned with censorship.
5. Liquidity Pool Burn
🔥 100% of the liquidity pool is burned on the Raydium pool.
Burning liquidity is a strong move for reducing risk. With 100% of the liquidity pool burned on Raydium, the chances of a rug pull—where developers remove all funds from the pool—are significantly reduced.
However, the situation is different in the Meteora pool, where liquidity tokens have not been burned.
6. Top 10 Holders
⚠️ Top 10 holders own 0%.
This is a positive sign because it suggests that no single entity or individual controls a large portion of the supply, which could lead to price manipulation. The decentralized nature of the token helps with its stability.
Liquidity Pools: Are They Secure?
YesNoError operates in two main liquidity pools:
1. Raydium (SOL-YNE) Pool
- Liquidity: $1.15 Million
- 24-Hour Volume: $76.62 Million
- LP Burned: 100%
The Raydium pool is the main liquidity provider for YNE, and it comes with a solid burn rate. With 100% of the liquidity burned, the risk of the pool being drained or manipulated is much lower.
2. Meteora (YNE-SOL) Pool
- Liquidity: $325,300
- 24-Hour Volume: $6.7 Million
- LP Burned: Not burned
The Meteora pool is smaller, with less liquidity and no burn protection. This introduces some risk since liquidity could be pulled at any time.
Potential Risks to Watch Out For
While YesNoError has several features that reduce risk, there are still some red flags you need to keep an eye on:
1. Sell Rate & Honeypot Risk
The sell rate for YNE is modified to 99%, making it extremely difficult to sell the token. This behavior is often associated with a "honeypot" risk. In a honeypot situation, investors can buy the token but find it almost impossible to sell it. The variable sell rate and high barrier to selling are a significant concern for anyone thinking about trading YNE.
2. Liquidity Pool Burn (Meteora)
The Raydium pool’s liquidity is burned, which is a great safety feature. However, the Meteora pool does not have the same level of protection. The liquidity in Meteora could be more easily manipulated, posing a potential risk to investors who choose to interact with that pool.
3. Market Volatility
Like many other Solana-based tokens, YNE can be subject to significant market fluctuations. While Solana’s ecosystem is growing, it’s still highly volatile, which could affect the stability of YNE’s price.
YesNoError Token Safety Score
Let’s now assign YesNoError a safety rating based on the data we’ve reviewed:
- Open Source: ✅ Secured
- Minting Capability: ✅ No minting
- Immutable Metadata: ✅ Secured
- Freeze Authority: ✅ Revoked
- Liquidity Pool Burn: 🔥 100% burned in Raydium
- Top Holders: ⚠️ 0% concentration
- Sell Rate (Honeypot Risk): ⚠️ High risk due to 99% sell restriction
Final Safety Rating: 6.8/10
Risk Level: Medium
We recommend only interacting with this token if you are fully aware of the risks involved.
Should You Invest in YesNoError?
YesNoError (YNE) certainly shows promise, especially in terms of its security features. However, there are significant risks to consider, particularly with the sell rate restriction and the liquidity pool in Meteora.
If you're looking for a token with lower risks, YNE might not be the best fit, especially if you want to trade it quickly. However, if you're comfortable with higher risk and understand the token's dynamics, it could be an interesting project to keep an eye on.
Our advice? Exercise caution. Stay informed, and only invest what you can afford to lose.
Final Thoughts
YesNoError is still a relatively new token, and while it has some solid features, there are red flags that investors should be aware of. With its high sell rate restriction and smaller liquidity pool in Meteora, the token might be more suited to those who understand the risks and can afford to take them.
For anyone interested in YNE, we recommend doing further research and keeping an eye on the token’s developments. You’ll want to stay up-to-date on its performance in the market and any changes to its liquidity pools.
What do you think about YesNoError? Would you consider investing in it? Drop your thoughts in the comments below and if you are looking for a full detailed report of this token contact us here.
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