fixed-supply-token Manual Review Findings

FIX-01M: Potential Centralization Concern

Type	Severity	Location
Centralization Concern		fixed-supply-token.sol:L18

Description:

The FixSupplyToken achieves its purpose of a fixed supply by minting the totalSupply to the creator of the contract, thereby completely centralizing the circulating supply of the token.

Example:

Copy
8/**
9@dev An implementation of the ERC20 contract which has a fixed TotalSupply at creation time
10*/
11contract FixSupplyToken is ERC20, Ownable {
12  // solhint-disable-next-line func-visibility
13  constructor(
14    string memory name,
15    string memory symbol,
16    uint256 totalSupply
17  ) ERC20(name, symbol) {
18    _mint(msg.sender, totalSupply);
19  }
20}

Recommendation:

We advise this trait of the system to be revised and a different solution for a fixed supply to be utilized instead.

Alleviation:

The Bonq Protocol team has stated that they wish to retain the current centralization structure and that they will employ a single multi-signature wallet acting as the owner of the overall Bonq system with a plan towards decentralization via the usage of the Tribute DAO ecosystem to create proper DAO in control of this role. As a result, we consider this exhibit adequately addressed based on the principle that the Bonq team will move towards decentralization as described.