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PEPE $PEPE tokens on Ethereum: Almost untouchable on-chain assets
$PEPE tokens on Ethereum are almost "untouchable" among on-chain assets. Ownership of the token contract was relinquished at start-up and the liquidity pool tokens were destroyed. This means that no address (including the original developer) can issue new tokens, impose transfer taxes, or drain transaction liquidity.
The total supply of fixed supply and continuously shrinking liquidity
tokens was set at 420,690,000,000,000 at start-up, of which 93.1% were sent to the liquidity pool, the liquidity pool tokens were destroyed, and contract ownership was waived. This number will only decrease from then on. Since then, an on-chain transaction sent approximately 6.9 trillion PEPEs to the destruction address, reducing the backlog in circulation, bringing the number of tokens in circulation to approximately 413.77 trillion. There are no pre-sales and no taxes are levied on the transaction at the contract level.
Since contract ownership has been waived, there is no address that can issue new tokens, suspend transfers, or change contract logic. Abandoned ownership, destroyed liquid pool tokens, and fully circulated supplies eliminate the most common technical "carpet pulling" risks.
Limitations of immutability: The contracts locked in the 2023 Team Wallet Incident
cannot lock everything. The remaining 6.9% of supply is held by a multi-signature team wallet and is only used for future centralized exchange launches, cross-chain bridges and liquidity pools. This arrangement later proved to be a loophole.
On August 24, 2023, approximately 16 trillion $PEPE tokens (worth approximately US$15 million) were transferred from the project multi-signature wallet to cryptocurrency exchanges such as OKX, Binance, Kucoin and Bybit. Shortly before the transfer, the threshold for multiple signatures quietly dropped from five-eighths to two-eighths, significantly reducing security standards. The project team later described the people involved as "bad actors" in the previous core team. After the transfer occurred, the price of the PEPE token fell by approximately 18%.
The immutability of contracts does not mean that operations are risk-free. Even if the token contract itself cannot be changed, wallets that control reserves or online inventory may still affect the market. The wallets associated with the team's projects currently hold approximately 2.12 trillion PEPEs, worth approximately US$7.2 million.
