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- [SCA] Seedify.fund | MyToken Audit | Oct2025
Introduction
We express our gratitude to the Seedify.fund team for the collaborative engagement that enabled the execution of this Smart Contract Security Assessment.
MyToken is an upgradeable ERC-20 with EIP-2612 permit, initialized once to set the name, symbol and mint a fixed total supply to a designated recipient, deployed as a minimal-proxy contract on BNB Smart Chain.
Document | |
|---|---|
| Name | Smart Contract Code Review and Security Analysis Report for Seedify.fund |
| Audited By | , Seher Saylik |
| Approved By | |
| Website | https://launchpad.seedify.fund/→ |
| Changelog | 07/10/2025 - Preliminary Report |
| 10/10/2025 - Final Report | |
| Platform | BNB Smart Chain (BSC) |
| Language | Solidity |
| Tags | Fungible Token, ERC-20, Permit Token |
| Methodology | https://hackenio.cc/sc_methodology→ |
Document
- Name
- Smart Contract Code Review and Security Analysis Report for Seedify.fund
- Audited By
- , Seher Saylik
- Approved By
- Changelog
- 07/10/2025 - Preliminary Report
- 10/10/2025 - Final Report
- Platform
- BNB Smart Chain (BSC)
- Language
- Solidity
- Tags
- Fungible Token, ERC-20, Permit Token
- Methodology
- https://hackenio.cc/sc_methodology→
Review Scope | |
|---|---|
| Initial Contract Address | https://bscscan.com/token/0x1bcc836f1f045e4898c215ddc57027768dc56864→ |
| Remediation Repository | https://github.com/Seedifyfund/seedify-era-contracts→ |
| Remediation Commit | 74f61bdc5acf38c29377761ed4fe69e7cf7528ae |
| Final Contract Address | https://bscscan.com/token/0xffda10b7fd9cf172e0502a6bc0e5e355516c5232→ |
Review Scope
- Initial Contract Address
- https://bscscan.com/token/0x1bcc836f1f045e4898c215ddc57027768dc56864→
- Remediation Repository
- https://github.com/Seedifyfund/seedify-era-contracts→
- Remediation Commit
- 74f61bdc5acf38c29377761ed4fe69e7cf7528ae
- Final Contract Address
- https://bscscan.com/token/0xffda10b7fd9cf172e0502a6bc0e5e355516c5232→
Audit Summary
The system users should acknowledge all the risks summed up in the risks section of the report
{Finding_Table?columns=title,severity,status&setting.filter.type=Vulnerability}
Documentation quality
Functional and technical requirements are not included.
Deployment and testing documentation are not included.
Code quality
Utilizes OpenZeppelin’s upgradeable ERC-20 modules with the Initializable pattern and disables implementation initialization in the constructor.
No additional logic beyond initial minting is included, resulting in a simple and minimal implementation.
Test coverage
Code coverage of the project is 0%.
There are no tests provided.
Test environment is not configured.
System Overview
Seedify.fund is a simple upgradeable ERC-20 implementation on BNB Smart Chain. On initialization, the implementation sets the token name and symbol and mints the full totalSupply_ to a designated recipient_ wallet. The code leverages OpenZeppelin upgradeable libraries, such as ERC20Upgradeable for core token logic, ERC20PermitUpgradeable for permit-based signature approvals, and Initializable to enforce a one-time init with the implementation constructor disabling further initializers.
Name: Seedify
Symbol: SFUND
Decimals: 18
Total Supply: 100,000,000 tokens
Privileged roles
No roles exist in the contract.
The
recipient_address receives the entire initial token allocation upon initialization, after which no privileges or administrative functions remain.
Potential Risks
Upgradability Risks: The contract is upgradeable, meaning its logic can be modified in future versions through an upgrade process. This mechanism allows the project team to introduce new features, or adjust protocol parameters any time without requiring users to migrate their tokens. However, such flexibility also makes the correctness of storage layout and upgrade design critical, as any inconsistency in storage alignment may cause data corruption or loss during future upgrades.
Centralized Minting to a Single Address: The entire token supply is minted to the recipient_ address at initialization. This concentration of tokens introduces risks of fund mismanagement or theft if the deployer’s private key is compromised.
Single Points of Failure and Control: All tokens are initially controlled by the recipient_, creating a single point of failure. If the recipient_ account is compromised, an attacker would have direct control over the total circulating supply.
Missing Storage Gap for Future Upgrades: Since the storage layout does not reserve a gap, future upgrades that introduce new state variables or additional parent contracts may overwrite existing storage. Such overwrites can corrupt user balances, break internal accounting, or render the token non-functional after an upgrade.
Findings
Code ― | Title | Status | Severity | |
|---|---|---|---|---|
| F-2025-1337 | Missing Storage Gap | mitigated | Low | |
| F-2025-1337 | Initializer Could Be Front-run | mitigated | Low | |
| F-2025-1337 | Floating Pragma | fixed | Observation |
Appendix 1. Definitions
Severities
When auditing smart contracts, Hacken is using a risk-based approach that considers Likelihood, Impact, Exploitability and Complexity metrics to evaluate findings and score severities.
Reference on how risk scoring is done is available through the repository in our Github organization:
Severity | Description |
|---|---|
Critical | Critical vulnerabilities are usually straightforward to exploit and can lead to the loss of user funds or contract state manipulation. |
High | High vulnerabilities are usually harder to exploit, requiring specific conditions, or have a more limited scope, but can still lead to the loss of user funds or contract state manipulation. |
Medium | Medium vulnerabilities are usually limited to state manipulations and, in most cases, cannot lead to asset loss. Contradictions and requirements violations. Major deviations from best practices are also in this category. |
Low | Major deviations from best practices or major Gas inefficiency. These issues will not have a significant impact on code execution. |
Severity
- Critical
Description
- Critical vulnerabilities are usually straightforward to exploit and can lead to the loss of user funds or contract state manipulation.
Severity
- High
Description
- High vulnerabilities are usually harder to exploit, requiring specific conditions, or have a more limited scope, but can still lead to the loss of user funds or contract state manipulation.
Severity
- Medium
Description
- Medium vulnerabilities are usually limited to state manipulations and, in most cases, cannot lead to asset loss. Contradictions and requirements violations. Major deviations from best practices are also in this category.
Severity
- Low
Description
- Major deviations from best practices or major Gas inefficiency. These issues will not have a significant impact on code execution.
Potential Risks
The "Potential Risks" section identifies issues that are not direct security vulnerabilities but could still affect the project’s performance, reliability, or user trust. These risks arise from design choices, architectural decisions, or operational practices that, while not immediately exploitable, may lead to problems under certain conditions. Additionally, potential risks can impact the quality of the audit itself, as they may involve external factors or components beyond the scope of the audit, leading to incomplete assessments or oversight of key areas. This section aims to provide a broader perspective on factors that could affect the project's long-term security, functionality, and the comprehensiveness of the audit findings.
Appendix 2. Scope
The scope of the project includes the following smart contracts from the provided repository:
Scope Details | |
|---|---|
| Initial Contract address | https://bscscan.com/token/0x1bcc836f1f045e4898c215ddc57027768dc56864→ |
| Remediation Repository | https://github.com/Seedifyfund/seedify-era-contracts→ |
| Remediation Commit | 74f61bdc5acf38c29377761ed4fe69e7cf7528ae |
| Final Contract Address | https://bscscan.com/token/0xffda10b7fd9cf172e0502a6bc0e5e355516c5232→ |
| Whitepaper | N/A |
| Requirements | N/A |
| Technical Requirements | N/A |
Scope Details
- Initial Contract address
- https://bscscan.com/token/0x1bcc836f1f045e4898c215ddc57027768dc56864→
- Remediation Repository
- https://github.com/Seedifyfund/seedify-era-contracts→
- Remediation Commit
- 74f61bdc5acf38c29377761ed4fe69e7cf7528ae
- Final Contract Address
- https://bscscan.com/token/0xffda10b7fd9cf172e0502a6bc0e5e355516c5232→
- Whitepaper
- N/A
- Requirements
- N/A
- Technical Requirements
- N/A
Assets in Scope
Appendix 3. Additional Valuables
Additional Recommendations
The smart contracts in the scope of this audit could benefit from the introduction of automatic emergency actions for critical activities, such as unauthorized operations like ownership changes or proxy upgrades, as well as unexpected fund manipulations, including large withdrawals or minting events. Adding such mechanisms would enable the protocol to react automatically to unusual activity, ensuring that the contract remains secure and functions as intended.
To improve functionality, these emergency actions could be designed to trigger under specific conditions, such as:
Detecting changes to ownership or critical permissions.
Monitoring large or unexpected transactions and minting events.
Pausing operations when irregularities are identified.
These enhancements would provide an added layer of security, making the contract more robust and better equipped to handle unexpected situations while maintaining smooth operations.