The $PSYOP contract comes with a feature of owner-only mint function, which empowers the owner to mint as many tokens as they desire. As a result, the team holds absolute authority over the token supply, and they can choose to increase or decrease it according to their discretion.
As long as the ownership of the contract remains unchanged, investors must be aware that the team has full control over the token supply. This could significantly affect both the token’s value and the overall safety of the project.
Potential investors should take a cautious approach before investing in a project with such a high level of control over the token supply. It is essential to carefully evaluate the risks associated with investing in such a venture
What is a mint function?
A mint function is a function that allows a contract to create new tokens. In the case of $PSYOP, the mint function is only accessible to the owner of the contract. This means that the owner has complete control over the token supply.
What is ownership renouncement?
Ownership renouncement is a process that allows the owner of a contract to give up control of the contract to the community. This means that the owner will no longer be able to access the mint function or any other functions that are only accessible to the owner.