GoPlus Security Assists DEXTools with Security Attribute Enhancement
OVERVIEW: DEXTools has built a unique token detection system with the help of GoPlus Security. The new token detection system provides powerful support for users’ trading strategies by delivering real-time security info to the users. With this security attribute enhancement by GoPlus Security, DEXTools has further improved its trust among users and has stood out from other DeFi aggregation websites.
DEXTools — — Excellent assistant for traders
DEXTools is a professional DEX data visualization tool and trading assistant designed to help traders navigate the decentralized world of online trading. It provides real-time data information, covering decentralized exchanges such as IDEX, Uniswap, and other APIs and blockchains. Traders can view token listing dynamics, fund pool liquidity, and even wallet queries on DEXTools. As the top 1 DEFi analytics platform for trading, DEXTools had more than 13M visitors to their website last month.
DEXTools offers a multitude of advantages to users by providing them with access to a vast amount of processed data obtained from on-chain sources. This information is used to create charts, transaction histories, social information, and other statistics for tokens that are traded on decentralized markets. Users can make better-informed trading decisions in the DeFi space and avoid scams through warnings and scores provided by DEXTools.
PainPoint: Who can protect user security in the Web3 world
Web3 user security faces intertwined difficulties. Not only problems of loss of assets caused by improper storage of private keys, but there are also many scam-designed contracts or phishing websites targeting common users because they are the most exploitable. The majority of these ordinary users are unable to recognize and learn the code, therefore they are frequently powerless in the face of threats when they come across circumstances like project parties acting immorally or technical staff designing smart contracts in a way that leaves them in danger.
However, there is an unequal distribution of security resources across Web3; 80% of these resources are used to support project sides or capital, while attentions regarding the rights and interests of common users are quite unseen. Due to the expensive, time-consuming R&D, nearly no one could put all his efforts to the less important part of development.
Solutions: Integrated with GoPlus API service, build a security detection service system
The Token Security API service provided by GoPlus Security is one of the most complete and accurate security services for token data on the market. Now there are over 2.64 M+ tokens have been detected, 1.6M+ of them are tokens with risks and nearly 5 million times of calls happen per day. The database is currently automatically keeping on adding newly issued tokens in the market and doing security identification and detection for them, covering as fast as possible for as many tokens in the market as possible.
In addition to the Token security API, GoPlus also provides other security solutions associated with crypto assets, including a malicious address API, NFT Security API, and Approval Security APIs.
As DEXTools continues to expand, their previous contract analyzer encountered difficulties processing the new forms of scams, new chains, and massive token types. Since DEXTools always put their users’ security in first place, they decided to partner with GoPlus Security, which is one of the most complete analyzers today, to continue to provide their users with maximum protection.
When a user searches for a token on DEXTools, GoPlus Security performs the detection. The API detects the potential security risks of the transaction token from the dimensions of the transaction token’s basic information, contract security, transaction security, and information security. Based on the information provided by GoPlus Security, DEXTools gives traders a corresponding score to provide them with more visualized risk reminders.
Taking this token (0xc80bb5a9ae65b61d1fa480a6a254889100664466) on BSC Chain as an example, GoPlus Security has detected three security risks, which are honeypot risk, hidden owner risk, and balance modifiable risk. The honeypot is common. Once it occurs, it means that the token can only be bought and cannot be sold. Hidden owner risk means that the contract creator has given up ownership in name, but in fact, there are still hidden owners who can Token implements actual control; the risk of Balance Modifiable means that the contract creator has the authority to change the balance of the token holder.
DEXTools’ token detection solution is supported by GoPlus’ free Token security API service, which will conduct security detection on more than 30 items in three categories: contract code, transaction security, and information security, including but not limited to whether the contract is open source, whether there is an additional issuance function, Owner-related code security; Token holders number, LP information, whether the address is locked, transaction slippage, honeypot problems, and other transaction security; whether the project is genuine currency, etc.
Unleash more potential for DEXTools and GoPlus
DEXTools is planning to release some new features in the future, including a new page for an overall view of the tokens, a launchpad, and a trading simulator. All of these upcoming features can also benefit from the GoPlus security detections. So GoPlus Security is willing to help DEXTools protect user asset security in the following aspects. For example, deeper integration into the Token Security API improves the new version of Token security detection, and dAPP Security API can better perform launchpad project review. In addition, GoPlus Security has also developed a pre-execution API that can help DEXTools better implement trading simulators.
