How to Check the Deployer Wallet of a Token (And What to Look for)
What is a deployer wallet?
A deployer wallet is a wallet that creates a contract. You can find the deployer wallet by inputting any contract into Etherscan and clicking on “Contract Creator” (see screenshot 1). By examining the transactions executed on the deployer wallet, you can gain insights into the actions taken by the deployer or developer.
Source of funding
One common point of interest is where the funding for the deployer wallet originated. In many cases, it may come from a cryptocurrency exchange (CEX) or a mixer like FixedFloat. Unfortunately, not much information can be obtained in these cases. However, there are instances where deployer wallets are funded through private sales, previously successful deployer wallets, “rich dev” wallets, and so on. While each of these sources may carry the risk of a rugpull, it can be more interesting to follow a launch funded by such wallets compared to one funded by a CEX. 🤓
📃 To find the source of funding, you need to examine the first transaction of the deployer wallet. Let’s take an example of a token called “DeezBots” that has multiple sources of funding. Clicking on the wallet that provided the funding (see screenshot 2), we can see that it was funded from a CEX (Binance), a mixer (Sideshift), and several other wallets (see screenshot 3). Of particular interest is the wallet that contributed 12.9 ETH, which holds $100,000 worth of Hourglass token, a significant amount (see screenshot 4).
Watch out for shady or malicious deployers
❗ Sometimes it is apparent that a deployer wallet has been funded by a wallet that previously rugpulled another token, and the funds were simply transferred. Such tokens almost always result in a rugpull. It is advisable to avoid them.
✅ By investigating the funding sources and the history of the deployer wallet, you can gain valuable insights into the potential risks and trustworthiness of a project.
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