What does it mean when project has more than one smart contract?

[Flangler]

Hello
I just do not understand why QuuBe exchange hase two smart contracts?
Can some one more experienced than me look into it?
I asked them on telegram but still no answer (2 days no anwser).
1. https://ethplorer.io/address/0xaaef8b20c61feb54746a3beb86133ae3f65ae72d?from=search
2. https://ethplorer.io/address/0x8c50d40245c98c7563b4d33a59998bad912a7d4c?from=search

and creator: https://ethplorer.io/address/0xae26b2990f1a47b96e3309edee449c7036eb1d31

It seems that creator have more tokens than their total supply.

edit:One project which had two smart contract occurred to be scam that's why I'm also asking

[Bttzed03]

Based on their telegram, the official contract address is https://etherscan.io/address/0x8c50d40245c98c7563b4d33a59998bad912a7d4c

It's not that hard to create erc-20 tokens but I don't understand why they have to create two. It's also a concern that they haven't responded to your question yet. You have to monitor if there will be a movement on that other contract address.

[Javi_Anibarro]

I have tried to find their real smart contract too but I could not find it anywhere, FYI there 3 smart contracts and you missed this one:
https://etherscan.io/address/0x4c695286debc393c038dd9fdb4b01729daaa1d93

and if you check this address, you will find all of those tokens together:
https://etherscan.io/address/0xae26b2990f1a47b96e3309edee449c7036eb1d31

I am not sure what they are trying to do.

[SamboNZ]

lots possibilities
scammers trying to create a fake token that they can use it for future scamming or the developers made a test token.
Also there are times when the creators made a mistake in the smart-contract and needs to be revised then they create another token which has the correct contract.

[Palider]

lots possibilities
scammers trying to create a fake token that they can use it for future scamming or the developers made a test token.
Also there are times when the creators made a mistake in the smart-contract and needs to be revised then they create another token which has the correct contract.

If they change their smart contract then they should immediately burn the old one so that it does not move in circulation. The same thing I see in my wallet sometimes it doubles and eventually disappears as well.

So you have to ask them exactly what their purpose is and why they have two smart contracts.

[Flangler]

lots possibilities
scammers trying to create a fake token that they can use it for future scamming or the developers made a test token.
Also there are times when the creators made a mistake in the smart-contract and needs to be revised then they create another token which has the correct contract.

If they change their smart contract then they should immediately burn the old one so that it does not move in circulation. The same thing I see in my wallet sometimes it doubles and eventually disappears as well.

So you have to ask them exactly what their purpose is and why they have two smart contracts.

The problem is that they do not want to ...

[DabsPoorVersion]

lots possibilities
scammers trying to create a fake token that they can use it for future scamming or the developers made a test token.
Also there are times when the creators made a mistake in the smart-contract and needs to be revised then they create another token which has the correct contract.

If they change their smart contract then they should immediately burn the old one so that it does not move in circulation. The same thing I see in my wallet sometimes it doubles and eventually disappears as well.

So you have to ask them exactly what their purpose is and why they have two smart contracts.

The problem is that they do not want to ...

Further explanation from the devs is needed for this, if there are no answers provided, you should doubt the legitimacy of the project. Having 2 or 3 smart contract is not normal.
As yourself if you will still continue to become part of it.
Firts of, they should be active in their telegram channel to provide answers and updates, if this was not met, it means that the team is not responsible enough to launch the project.

[slashz9]

maybe the another one for backup, but i dont really know why they make it.
i have join some project about one year ago, and they make the new smart contract for their token, so while i hear their token going to list exchange.
I cant sell my token, i see on website smartcontract is different from my token, becarefull with that project, maybe the same thing will happen.

[angrybirdy]

maybe the another one for backup, but i dont really know why they make it.
i have join some project about one year ago, and they make the new smart contract for their token, so while i hear their token going to list exchange.
I cant sell my token, i see on website smartcontract is different from my token, becarefull with that project, maybe the same thing will happen.

There are some projects that change their smart contract, but they give an announcement for their participants. They will collect all the coins and exchange it with a new smart contract. The old coins will be burned after that.

In this case, it is different. Having multiple smart contract should have an explanation. It is something to be announce and cleared by the developers.

[Rodeo02]

lots possibilities
scammers trying to create a fake token that they can use it for future scamming or the developers made a test token.
Also there are times when the creators made a mistake in the smart-contract and needs to be revised then they create another token which has the correct contract.

If they change their smart contract then they should immediately burn the old one so that it does not move in circulation. The same thing I see in my wallet sometimes it doubles and eventually disappears as well.

So you have to ask them exactly what their purpose is and why they have two smart contracts.

The problem is if the token already distributed to investors before they change the smart contract they can only burn the token they have from the old smart contract.

There are many reasons why they have 2 smart contract there is also possobility that the other token just use the same ticker but different project.

[cudora]

There can be various scenarios. But the most common one is that they just did a token swap. A lot of projects are creating a new smart contract for more safety, to reduce the total cap, to attract new audience and a bunch of other factors.

[CryptopreneurBrainboss]

Why then are you promoting the exchange through your signature when you're not sure what you're promoting isn't a scam due to your past experience. Your question would be best answered by the developers so I recommend you take this question to them on their group chat and when you do get a response kindly update your OP with it for some clarification incase similar question is been asked on the forum for me to reference your thread.

Here are some possible reasons though;

• The second and other smart contracts are probably from scammers disguising themselves as the main project to scam Investors. I.e the other smart contract are fake since it's quite easy to create a new project with similar identity as previous projects with ethereum blockchain.
• The project just recently swap tokens i.e they move from the old smart contract to a new one for reasons best known to them.
• The project has different types of ethereum based tokens e.g Erc20, ERC-223, ERC-721, and ERC-777 standard tokens. Some project operate with different types of tokens either on the same blockchain or different blockchain. Your ethereum wallet are capable for this different type of ethereum based tokens so you might not notice they're different.

These are just some absorption but like i previously said, the developer are those in the right position to give you an accurate answer therefore contact them.

[Classica35]

This calls for serious suspicion and should be well checked. Although, we cannot come to the conclusion that it is a scam project. It is also possible that they might be carrying out their investigation, not knowing what to say now, until there is light to it,  because if it is true, it is more like they are implicating themselves.

[Javi_Anibarro]

This is their official smart contract:
https://etherscan.io/address/0x4c695286debc393c038dd9fdb4b01729daaa1d93

I got this from the owner directly and I have screenshotted his reply in case he does not admit in the future, you can see it below:


If you want to check it, you can click the link below to direct you to his message:
https://t.me/QuubeExchangeChat/38530

[tenakha]

Hello
I just do not understand why QuuBe exchange hase two smart contracts?
Can some one more experienced than me look into it?
I asked them on telegram but still no answer (2 days no anwser).
1. https://ethplorer.io/address/0xaaef8b20c61feb54746a3beb86133ae3f65ae72d?from=search
2. https://ethplorer.io/address/0x8c50d40245c98c7563b4d33a59998bad912a7d4c?from=search

and creator: https://ethplorer.io/address/0xae26b2990f1a47b96e3309edee449c7036eb1d31

It seems that creator have more tokens than their total supply.

edit:One project which had two smart contract occurred to be scam that's why I'm also asking

If both addresses are theirs, investigate. But do not get the idea that they are just scam without knowing what it is. As friends have indicated, there is only one address in the telegram. Maybe they re-created another one because there was something wrong with the first one. Besides, wait until you get an answer to your question.

[wajik-tempe]

I've experienced investing in a project who have 2 smart contract. At that time they converting their tokens into new smart contract, then we'll have the same amount of tokens and the same name but with different smart contract. The old token price become worthless and not recognized. So, i think they're just converting their tokens into new smart contracts for some reason

[Nivia1st]

Hello
I just do not understand why QuuBe exchange hase two smart contracts?
Can some one more experienced than me look into it?
I asked them on telegram but still no answer (2 days no anwser).
1. https://ethplorer.io/address/0xaaef8b20c61feb54746a3beb86133ae3f65ae72d?from=search
2. https://ethplorer.io/address/0x8c50d40245c98c7563b4d33a59998bad912a7d4c?from=search

and creator: https://ethplorer.io/address/0xae26b2990f1a47b96e3309edee449c7036eb1d31

It seems that creator have more tokens than their total supply.

edit:One project which had two smart contract occurred to be scam that's why I'm also asking

my advice is better to leave a project like that. I see this project as a Scam project. might be normal if the project has 2 smartcontrac on two different blockchain. but if it's on one blockchain, this might be a problem. so it's better not to pay attention to projects like this.

[ivaf]

In fact, it’s okay if there are several smart contracts.
But in this case, you should either get a response from the project team, or leave this project and forget about it. Because in this case, both smart contracts are used to manage the same token. This is alarming.

[shinratensei_]

This is their official smart contract:
https://etherscan.io/address/0x4c695286debc393c038dd9fdb4b01729daaa1d93

I got this from the owner directly and I have screenshotted his reply in case he does not admit in the future, you can see it below:


If you want to check it, you can click the link below to direct you to his message:
https://t.me/QuubeExchangeChat/38530

Your post has already answered OP's question about that but so many people here are still confusing about that which doesn't make sense to see that.
They must remember if anyone can create a new smartcontract. I believe those contracts created by scammers. So many scammers these days are using this method. You have posted a valid coin but that needs additional information if smartcontract opened for the public. The token address can be issued anytime with used the same ticker.
But to verify which is the correct address must be talked with the developer itself.

I hope people in this place will not give a nonvalid assumption before try to check itdirectly. This kind of trict has already used by scammer to create a new coin and then make the supporters are feeling confusing which is a real contract.

[Pet240]

Several projects have done similar thing in the past, yet there was no problem, although, some did it to scam. However, since Javi_Anibarro has made further enquiry to get a proof, which might be a reference point in future, it can be used to give proper judgement.
The case should rest for now, until the team does otherwise.