Next Generation Network

Smart Contract Audit Report

Audit Summary

Next Generation Network is building a new ERC-20 token that is an automatic liquidity providing protocol.

For this audit, we reviewed the project team's NGN contract at 0x888f538aa0634472d3f038f225c59b5847cde015 on the Ethereum Mainnet.

Audit Findings

No findings were identified, though some centralized aspects are present.
Date: January 4th, 2023.
Updated: January 27th, 2023 to reflect the contract's Mainnet address.

Contract Overview

• The total supply of the token is set to 777,777 $NGN.
• No public mint or burn functions exist, though the circulating supply can be decreased by sending tokens to the 0x..dead address.
• At the time of writing this report, 100% of the total supply belongs to the owner.


• The contract enforces a maximum wallet amount that prevents a transfer from occurring if the recipient's token balance will exceed the limit number of tokens (determined by the owner) after the transfer occurs.
• Blacklisted accounts are prohibited from participating in transfers.
• There is a Liquidity fee, Marketing fee, and Team fee on all transfers via Uniswap where neither the sender nor the recipient is excluded from fees. A separate fee structure can be set by the team to apply different fee percentages depending on whether the transaction is a buy or a sell.
• The contract enforces an early sell penalty which applies a separate Liquidity fee and Marketing fee (set by the owner) when a user transfers or sells tokens within 24 hours of their previous buy transaction via Uniswap.
• The tokens collected through fees are stored in the contract address. The tokens are swapped for ETH for the purpose of funding Uniswap liquidity and the respective fee addresses when the following conditions are met:
  • The automatic liquidity add functionality is enabled by the team.
  • The threshold number of tokens (determined by the owner) in the contract address has been reached.
  • The contract is not currently performing an automatic liquidity add.
  • Neither the sender nor the recipient is excluded from fees.
  • The caller is not initiating a buy transaction via Uniswap.
• Liquidity-adds are automatically performed by selling the tokens collected as fees, pairing the received ETH with the token, and adding it as liquidity to the ETH pair.
• The LP tokens received through this process are sent to the Liquidity address set by the team. We recommend that the team lock these newly acquired LP tokens.
• The tokens collected through the Marketing fee and Team fee are swapped for ETH and sent to the team's Marketing address and Team address respectively.
• As the contract is implemented with Solidity v0.8.x, it is safe from any possible overflows/underflows.
• The contract complies with the ERC-20 token standard.

Ownership Controls:

• The owner can set total fees up to 30% for both the buy and sell fee structures at any time.
• The owner can set the early sell penalty Liquidity fee and Marketing fee to any percentages as long as the combined fee percentage does not exceed 100%.
• The owner can exclude and include accounts from transfer fees at any time.
• The owner can add/remove accounts from the transfer blacklist at any time.
• The owner can set the maximum wallet amount to any value at any time.
• The owner can exclude and include accounts from the maximum wallet amount restriction at any time.
• The owner can enable/disable automatic liquidity adds at any time.
• The owner can set the threshold number of tokens that triggers an automatic liquidity add to any value at any time.
• The owner can update the team's Liquidity address, Marketing address, and Team address at any time.

Audit Results

Inheritance Chart

Function Graph

Functions Overview

 ($) = payable function
 # = non-constant function
 
 Int = Internal
 Ext = External
 Pub = Public

 + [Int] IUniswapV2Factory 
    - [Ext] feeTo
    - [Ext] feeToSetter
    - [Ext] getPair
    - [Ext] allPairs
    - [Ext] allPairsLength
    - [Ext] createPair #
    - [Ext] setFeeTo #
    - [Ext] setFeeToSetter #

 + [Int] IUniswapV2Router01 
    - [Ext] factory
    - [Ext] WETH
    - [Ext] addLiquidity #
    - [Ext] addLiquidityETH ($)
    - [Ext] removeLiquidity #
    - [Ext] removeLiquidityETH #
    - [Ext] removeLiquidityWithPermit #
    - [Ext] removeLiquidityETHWithPermit #
    - [Ext] swapExactTokensForTokens #
    - [Ext] swapTokensForExactTokens #
    - [Ext] swapExactETHForTokens ($)
    - [Ext] swapTokensForExactETH #
    - [Ext] swapExactTokensForETH #
    - [Ext] swapETHForExactTokens ($)
    - [Ext] quote
    - [Ext] getAmountOut
    - [Ext] getAmountIn
    - [Ext] getAmountsOut
    - [Ext] getAmountsIn

 + [Int] IUniswapV2Router02 (IUniswapV2Router01)
    - [Ext] removeLiquidityETHSupportingFeeOnTransferTokens #
    - [Ext] removeLiquidityETHWithPermitSupportingFeeOnTransferTokens #
    - [Ext] swapExactTokensForTokensSupportingFeeOnTransferTokens #
    - [Ext] swapExactETHForTokensSupportingFeeOnTransferTokens ($)
    - [Ext] swapExactTokensForETHSupportingFeeOnTransferTokens #

 +  Context 
    - [Int] _msgSender
    - [Int] _msgData

 +  Ownable (Context)
    - [Pub]  #
    - [Pub] owner
    - [Pub] renounceOwnership #
       - modifiers: onlyOwner
    - [Pub] transferOwnership #
       - modifiers: onlyOwner
    - [Int] _transferOwnership #

 + [Int] IERC20 
    - [Ext] totalSupply
    - [Ext] balanceOf
    - [Ext] transfer #
    - [Ext] allowance
    - [Ext] approve #
    - [Ext] transferFrom #

 + [Int] IERC20Metadata (IERC20)
    - [Ext] name
    - [Ext] symbol
    - [Ext] decimals

 +  ERC20 (Context, IERC20, IERC20Metadata)
    - [Pub]  #
    - [Pub] name
    - [Pub] symbol
    - [Pub] decimals
    - [Pub] totalSupply
    - [Pub] balanceOf
    - [Pub] transfer #
    - [Pub] allowance
    - [Pub] approve #
    - [Pub] transferFrom #
    - [Pub] increaseAllowance #
    - [Pub] decreaseAllowance #
    - [Int] _transfer #
    - [Int] _mint #
    - [Int] _burn #
    - [Int] _approve #
    - [Int] _spendAllowance #
    - [Int] _beforeTokenTransfer #
    - [Int] _afterTokenTransfer #

 +  NGN (ERC20, Ownable)
    - [Pub]  #
       - modifiers: ERC20
    - [Int] _transfer #
    - [Prv] processFees #
       - modifiers: lockTheSwap
    - [Prv] swapTokensForETH #
    - [Prv] addLiquidity #
    - [Ext] setBlacklist #
       - modifiers: onlyOwner
    - [Ext] setBuyFees #
       - modifiers: onlyOwner
    - [Ext] setSellFees #
       - modifiers: onlyOwner
    - [Ext] setPumpAndDumpFees #
       - modifiers: onlyOwner
    - [Ext] updateMaxWallet #
       - modifiers: onlyOwner
    - [Pub] excludeFromMaxWallet #
       - modifiers: onlyOwner
    - [Ext] setExcludedFromFees #
       - modifiers: onlyOwner
    - [Pub] setSwapAndLiquifyEnabled #
       - modifiers: onlyOwner
    - [Ext] setSwapAtAmount #
       - modifiers: onlyOwner
    - [Ext] updateTeamAddress #
       - modifiers: onlyOwner
    - [Ext] updateMarketingFeeAddress #
       - modifiers: onlyOwner
    - [Ext] updateLiquidityAddress #
       - modifiers: onlyOwner
    - [Ext]  ($)

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What is a SourceHat Audit?

Typically, a smart contract audit is a comprehensive review process designed to discover logical errors, security vulnerabilities, and optimization opportunities within code. A SourceHat Audit takes this a step further by verifying economic logic to ensure the stability of smart contracts and highlighting privileged functionality to create a report that is easy to understand for developers and community members alike.

How Do I Interpret the Findings?

Each of our Findings will be labeled with a Severity level. We always recommend the team resolve High, Medium, and Low severity findings prior to deploying the code to the mainnet. Here is a breakdown on what each Severity level means for the project:

• High severity indicates that the issue puts a large number of users' funds at risk and has a high probability of exploitation, or the smart contract contains serious logical issues which can prevent the code from operating as intended.
• Medium severity issues are those which place at least some users' funds at risk and has a medium to high probability of exploitation.
• Low severity issues have a relatively minor risk association; these issues have a low probability of occurring or may have a minimal impact.
• Informational issues pose no immediate risk, but inform the project team of opportunities for gas optimizations and following smart contract security best practices.

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