Dear LBank users,
LBK token burning mechanism sends a transaction to a fixed address. This address prohibits token transfer operations to other addresses. In the LBK contract, this address is profitAddress, and its value is:
0xb8e52b05faf9490507a0f5e8ed0c286ef0c21ef6
The code in the contract to limit its token transfer is:
modifier onlyOpen( ) {
require( _openTransfer );
require( msg.sender != profitAddress );
_;
}
function transfer(address _to, uint256 _value) public onlyOpen {
require( freezeOf[msg.sender] == false && freezeOf[_to] == false );
require( _to != address(0) );
require( _value > 0 );
require (balanceOf[msg.sender] >= _value) ;
require ((balanceOf[_to] + _value ) >= balanceOf[_to]) ;
balanceOf[msg.sender] = SafeMath.safeSub( balanceOf[msg.sender], _value );
balanceOf[_to] = SafeMath.safeAdd( balanceOf[_to], _value );
emit Transfer(msg.sender, _to, _value);
}
In the contract code, users must meet two conditions at the same time when transferring LBK:
1. _openTransfer must be true;
2. The sender address must not be profitAddress
when any of these conditions cannot be met, the transfer of LBK cannot be achieved.
The profitAddress address of LBK is written through the constructor when the contract is deployed. The initialization code is:
constructor( string memory _name, string memory _symbol, uint8 _decimals, uint256 _totalSupply, address _admin, address _profitAddress ) public Authorized( _admin, _profitAddress ) {
name = _name;
symbol = _symbol;
decimals = _decimals;
totalSupply = _totalSupply;
// The initial fund is allocated to the admin.
balanceOf[_admin] = totalSupply;
}
Because of the tamper-proof of the blockchain and the fact that the Solidity contract constructor is only initialized and executed, the value of the profitAddress of the LBK token can only be initialized and assigned through contract deploying, and cannot be changed during the life cycle of the LBK token contract.
The value of profitAddress of LBK token can be queried through Etherscan. The query method is https://cn.etherscan.com/address/0x9cb1aeafcc8a9406632c5b084246ea72f62d37b6#readContract.
Its value in Etherscan is shown in the figure:
In order to ensure the validity of the LBK token burning, users can query the LBK burning transaction and the total destruction amount through Etherscan. The query method for the burning transaction is as follows:
https://cn.etherscan.com/address/0xb8e52b05faf9490507a0f5e8ed0c286ef0c21ef6#tokentxns
Note: This screenshot is only a part of transactions, please check all transactions through the above link.
Query address for the total amount of destruction：
https://cn.etherscan.com/address/0xb8e52b05faf9490507a0f5e8ed0c286ef0c21ef6#tokentxns
Or query through contract on Etherscan：
https://cn.etherscan.com/address/0x9cb1aeafcc8a9406632c5b084246ea72f62d37b6#readContract
The advantages of using profitAddress versus all-zero address:
1. From a security point of view, the zero address also has the theoretical possibility of corresponding to the private key. The former eliminates this theoretical possibility by executing code to filter out fund transfers from profitAddress ;
2. From the perspective of supervision, the all-zero address contains a large number of token transfer operations, and it is cumbersome to check the destruction of a certain token and supervise the operation, while the profitAddress adopted by LBK can easily realize the destruction query and amount check
Contract code query address：
https://cn.etherscan.com/address/0x9cb1aeafcc8a9406632c5b084246ea72f62d37b6#code
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