It is crucial to audit the smart contracts of cryptocurrencies listed on decentralized exchanges and share the security audit report with investors before inviting them to buy the tokens. In the case of AMAL, the smart contract audit was conducted in two phases by three different companies. Solidproof audited all security matters, while Spywolf and AuditAce audited the operational functions.
First: Security audit:
The smart contract has been thoroughly reviewed and no security vulnerabilities have been found that require any modification to the contract codes. Solidproof recommended 2 amendments, which have not yet been implemented. Because, these amendments are related to the technologies that are required at the beginning of the trading phase, and they are:
- Token burning function:
It is a function according to which the owner of a smart contract can burn the tokens available in a specific crypto wallet.
The smart contract includes a function that allows the owner to destroy the tokens held in a specific crypto wallet. This function will be active for 48 hours after the token is released to prevent automated bots from buying up all the new tokens, which can harm the interests of genuine investors.
- Renounce smart contract ownership:
First: To give up ownership of a smart contract means that the creator of the contract will lose control over it, and no modifications can be made to the contract. The process of renouncing the ownership of the contract involves three steps: 1. Removing the token burning function. 2. Removing the anti-whale function. 3. Presenting the smart contract to three auditing companies for a final audit. Then, make the necessary amendments or recommendations proposed by the auditors.
Second: Auditing the functions of the smart contract
The AMAL smart contract is unique in the world of cryptocurrencies as it is linked to a stablecoin (USDC) and contains several advanced technologies. Originally, these technologies could only be operated if the token was linked to the native blockchain coin such as BNB or Ethereum.
To ensure the contract's technologies work without any issues, we collaborated with one of the best companies specializing in creating smart contracts, along with Spywolf and AuditAce. We conducted numerous tests until we were confident that the contract was free of any technical problems and worked flawlessly.
Since we have completed this important stage, we will declare the AMAL trading date soon.
Please click on the following link to view the security audit report: Smart Contract Audit Solidproof Amal Token
Websites of the companies that audited the smart contract:
