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Someone is making me a dex and a token, and i am not sure if TransferOwnership to my erc20 address it`s enough.

Token will be mintable with a mint rate/block of 4 tokens, and initial supply of 1 mil. After he transfer ownership to my erc20 address, i get the ownership of contract or only to the initial supply?

Other question is, to create the dex he will deploy factory, router and master contracts ( from his erc20 address).

Can he transfer ownership to those contracts aswell?

How can i be sure that i will be the only owner of tokens and dex contracts?

Thank you

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  • You should examine the code of the contracts and make sure there is no funny business. Even if you deploy the contracts with your wallet he may still have a backdoor in the code.
    – trizin
    Sep 17, 2021 at 12:48

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You will be the owner of the contract, this does not mean you will own the initial supply or future supplies. This only means you get the perks of the owner for some functions most likely. Regarding funds, if not already, those need to be sent to your wallet. With new minting, a minting address is specified, so any tokens minted will have a destination address that needs to be set.

If you are still uncertain, I would suggest just deploying the contracts with your wallet. He can guide you if you do not understand. (Just don't share your Private Keys)

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  • Thank you very much! So, i will own only some functions. Sep 17, 2021 at 8:04
  • There are certain functions that has a requirement that only the owner can execute it. You will have that perks Sep 17, 2021 at 8:49

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