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FlapJax buyback program, 9-18 October 2026: nine buys re-derived from BNB Smart Chain

#blockchain #bsc #defi #audit

This audit takes the nine daily buybacks FlapJax describes out of the project's own statement and rebuilds them from BNB Smart Chain logs only: every transaction, block, BNB amount, FLAPJAX amount and recipient below comes from a public BSC node, not from the project's posts.

Scope and window

  • Chain: BNB Smart Chain (chain id 56).
  • Window: blocks 126,536,086 to 128,454,490, i.e. 2026-10-09 00:00:00 UTC to 2026-10-18 23:59:59 UTC.
    • Start block hash: 0xb12ec9e0d5bb4a698f4c759a00ff77cc5738d5d05d0ac292a134bae0f0e48b8f
    • End block hash: 0x215b3296f78ac47b2ac3c5b8915b53174ffa84c21442a69bc2ce6c4616b70db6
  • FLAPJAX token: 0x90c8889f428F9Ebb77BB8f15CAD3a50a9aC680df (BEP-20, 18 decimals).
  • Pool: PancakeSwap V3 FLAPJAX/WBNB at 0xcA93EC685b8623688E6B236f9068034B298c2150. On chain, token0() returns the FLAPJAX address, token1() returns WBNB 0xbb4CdB9CBd36B01bD1cBaEBF2De08d9173bc095c and fee() returns 10000 (1.00%).
  • Treasury named in the statement: 0x7C34E9e21eE28A49Ff0b84B61774119E6633359f.

Method

  1. Pull every FLAPJAX Transfer log for the window (topic 0xddf252ad1be2c89b69c2b068fc378daa952ba7f163c4a11628f55a4df523b3ef, address = token) with eth_getLogs, in 5,000-block chunks because the public endpoints cap the range. The window returns 223 Transfer logs across 215 transactions, which is a small enough set to account for in full.
  2. A buy is a transaction sent by the treasury whose receipt contains a FLAPJAX Transfer from the pool to the treasury, plus a WBNB Transfer into the pool. For each of those transactions I read the receipt with eth_getTransactionReceipt to take the FLAPJAX amount from the token's own Transfer log (not from the router's swap event), the WBNB amount sent into the pool, the transaction sender, the nonce and the status.
  3. Prices are integer ratios of the two on-chain amounts in wei; nothing is read from a price feed or an indexer.

The nine buyback buys

# Time (UTC) Block BNB into pool FLAPJAX received BNB per FLAPJAX FLAPJAX per BNB Transaction
1 2026-10-09 18:30:53 126,684,151 0.01 24,052,995.308271523565053940 4.157486363688403e-10 2,405,299,530.83 0xbeefabdc89f9148f9daaef6082d34a60dc5b4b612972ca0fd39d6bd4eb03b4b0
2 2026-10-10 18:27:56 126,875,701 0.01 23,979,958.557395637035369873 4.170148991736230e-10 2,397,995,855.74 0x8ce8e8578da26f8c7acb0f44c6ca0d0b8dcba868cafe2d729bb48562863f2d62
3 2026-10-11 18:30:35 127,067,713 0.01 23,907,253.965589988976716995 4.182830874007163e-10 2,390,725,396.56 0x82d01172ae26f1c86287643e123af1675ca5c18b984b7740c1a0c1647d2801eb
4 2026-10-12 18:46:27 127,261,246 0.01 23,834,879.521763890981674194 4.195532010501203e-10 2,383,487,952.18 0x9afdc96e3ca876b5b617a26ba5105012ed8c33e805c77b1616bf48c198d5cbf1
5 2026-10-13 18:41:15 127,452,454 0.01 23,762,833.230024088174104691 4.208252401218347e-10 2,376,283,323.00 0xc94de373d1fb00093431224a97475b3b2b48b9a4962d15acbe9d9c5c016d720c
6 2026-10-14 18:32:29 127,643,212 0.01 23,691,113.109537146985530853 4.220992046158599e-10 2,369,111,310.95 0x172349c64ed3c45663650049f9e2ad3d763b1243c5c849b7d66f144f221d3186
7 2026-10-17 02:00:51 128,086,717 0.01 23,669,235.465921230614185333 4.224893539294041e-10 2,366,923,546.59 0xc999000f16f326e8868fe37f83871219be1a63f98043b0aef9ee57f469232156
8 2026-10-17 13:29:27 128,178,495 0.01 23,597,938.349722731858491898 4.237658329214804e-10 2,359,793,834.97 0x6ec66780e0518da7c3c8b55d13b66d57400046f89ebe9df479c3c878f7b3311f
9 2026-10-18 13:28:39 128,370,339 0.01 23,506,585.156697209924459457 4.254127059859617e-10 2,350,658,515.67 0x05a9acf81b0eae4b7ff9a12168aead25964b6b2c0a16d3d1e667b7db6f17ad99

Every row has the same shape: the transaction is sent by the treasury, to is the PancakeSwap router 0x1B81D678ffb9C0263b24A97847620C99d213eB14, the value is 0.010000000000000000 BNB, the receipt carries exactly one WBNB Transfer of 0.010000000000000000 from the router into the pool and exactly one FLAPJAX Transfer from the pool to the treasury. All nine receipts are status 1. Nonces run 30, 47, 72, 87, 104, 137, 162, 179, 216 on the treasury account, which is consistent with the buys being spread across other treasury activity rather than batched.

Totals and price

  • Buys: 9
  • BNB into the pool: 0.01 x 9 = 0.09 BNB exactly (WBNB Transfers sum to 0.090000000000000000; the wei sum is 90,000,000,000,000,000).
  • FLAPJAX received: 214,002,792.664923451883644637 (wei sum 214,002,792,664,923,451,883,644,637).
  • Average price: 0.09 / 214,002,792.664923451883644637 = 4.205552594863479e-10 BNB per FLAPJAX, i.e. 2,377,808,807.39 FLAPJAX per BNB.
  • First buy price: 4.157486363688403e-10 BNB per FLAPJAX (2,405,299,530.83 FLAPJAX per BNB).
  • Last buy price: 4.254127059859617e-10 BNB per FLAPJAX (2,350,658,515.67 FLAPJAX per BNB).
  • Change across the programme: the price paid rose 2.32% from the first buy to the last, and the quantity bought per buy fell from 24,052,995.31 to 23,506,585.16 FLAPJAX, a 2.27% decline.
  • Gas is outside the 0.09 BNB: the nine transactions used 1,146,638 gas in total and paid 0.000057332 BNB in fees at the effective gas price of each block.

Day-by-day coverage

The programme is described as "one a day except 10-15". The nine buys do not land on one calendar date per UTC day: the buy dated 2026-10-16 in US Eastern time (22:00 EDT) is 2026-10-17 02:00:51 UTC.

Day Buy in UTC Buy in US Eastern (UTC-4)
10-09 18:30:53 14:30
10-10 18:27:56 14:27
10-11 18:30:35 14:30
10-12 18:46:27 14:46
10-13 18:41:15 14:41
10-14 18:32:29 14:32
10-15 none none
10-16 none 22:00
10-17 02:00:51 and 13:29:27 09:29
10-18 13:28:39 09:28

Read on UTC days there are two empty dates, 10-15 and 10-16; read on US Eastern days there is exactly one, 10-15. The schedule also moves: six buys run between 18:27 and 18:46 UTC, then the programme shifts to two buys on 10-17 and one on 10-18, both near 13:29 UTC. That is a five-hour change of the daily slot, not a missed day, and it is the only thing in the data that could be read as a second gap.

Whether the 10-15 make-up buy now "owed on 10-23" already happened is a matter of the programme's internal calendar, and it cannot be settled from the chain: the treasury made one extra buy on 10-17 (two buys in 11 hours 29 minutes) and the statement does not say which obligation that buy discharged. What the chain does show is nine buys in ten days against ten scheduled dates, with 10-15 carrying none.

Third-party swaps in the same pool and window

The pool is not treasury-only. Three buys by other addresses and six sells into the pool occurred in the window; none of them is a treasury buyback buy and none is counted above.

Buys by other addresses (FLAPJAX out of the pool, WBNB in):

  • 2026-10-15 02:23:25, block 127,705,993, 0.004194315277008057 BNB in, 9,915,528.222250200808048248 FLAPJAX to 0xe65f1199abfb99cb1b46704195a4ca47c8342572, tx 0xa61c459d6febfb40b89cbe7eeef592a30eb7116d5341bb8370d39ea2b90052d2, sender 0x27e211207f89bd214c8e8954099e01522c329e83.
  • 2026-10-15 02:29:19, block 127,706,777, 0.003151411985966734 BNB in, 7,441,813.864580915309488773 FLAPJAX to 0xac3cb84cb7de679f834d2511cb6f67c471469aea, tx 0xe07fd78d30c5f44556230951919c9c1cdbf33c8d997e13bffca2464d9dfe598f, sender 0xde402734ac1aaea1230a64bf7acb2e9f7aeaa3d4.
  • 2026-10-17 21:38:22, block 128,243,669, 0.002921409109531357 BNB in, 6,880,512.766634859144687653 FLAPJAX to 0x178f5e5787ae4d23fa04045a0aed97bd0f08d205, tx 0xa184a3f498b2f27eb6384c44352a799781b7b9f66c7d5aa03bf6c200f923f35f, sender 0x81e68f1fef65347e33a8b684748b856ccddee5c9.

FLAPJAX sold into the pool, 64,163,738.18660752 in total, all from wallets that are not the treasury:

  • 127,949,693: 3,250,000 from 0x1cecdfbb8507800e34e07dd4723abdf8ea07c747
  • 127,970,460: 7,833,988.186607521 from 0xac3cb84cb7de679f834d2511cb6f67c471469aea
  • 127,998,968: 1,750,000 from 0x781eb433ff788705080254c6f510df16d37b0c44
  • 128,001,377: 21,300,000 from 0xd1cada310f73455a2b119fa49aa8b682bfff9f7d
  • 128,312,644: 99,750 from 0x111116058b9828cdcdd810c502b925c14f34ca11
  • 128,384,772: 29,930,000 from 0x8c062dc5d775b7d5efc168f75a875f392f53dcdf

Treasury FLAPJAX flows and the balance check

Over the window the treasury received exactly nine FLAPJAX transfers, all from the pool, totalling 214,002,792.664923451883644637 FLAPJAX, and sent out 191 transfers totalling 114,630,000 exactly. The change is +99,372,792.66492346.

balanceOf(treasury) read on the token contract at the two window edges:

  • block 126,536,086: 176,347,089.97555348 FLAPJAX
  • block 128,454,490: 275,719,882.64047694 FLAPJAX

The difference is 99,372,792.66492346, which equals inflow minus outflow to the last digit. The Transfer log list is therefore complete for the treasury: no transfer in the window is missing from this account.

Statement verdicts

  1. "Nine buys of 0.01 BNB each, 0.09 BNB in total" - MATCH. Nine buys, 0.010000000000000000 BNB into the pool each, 0.09 BNB in total; the transactions are the nine in the table, with gas outside the 0.09.
  2. "One a day except 10-15, which was missed and is owed as a make-up buy on 10-23" - MATCH for the buy count and for one missing day, with the day boundary stated as US Eastern (UTC-4): 10-15 carries no buy and the other nine dates carry one each. MISMATCH as a UTC statement: on UTC days the treasury made no buy on 10-15 or on 10-16, and 10-17 carries two buys (02:00:51 and 13:29:27). The make-up on 10-23 is a future obligation and cannot be checked here.
  3. "Every buy's FLAPJAX went to the treasury" - MATCH. All nine FLAPJAX Transfers in those receipts have the treasury as the recipient; no buy routed FLAPJAX anywhere else, and the treasury received FLAPJAX from no other source in the window.
  4. "The treasury sent no FLAPJAX to the pool in that window" - MATCH. Of 191 treasury outflows, none has the pool as recipient; the six transfers into the pool in the window came from six other wallets, listed above.

Reproducing this

Any public BSC node returns the same numbers. The scan used chunked eth_getLogs with {"address":"0x90c8889f428F9Ebb77BB8f15CAD3a50a9aC680df","topics":["0xddf252ad1be2c89b69c2b068fc378daa952ba7f163c4a11628f55a4df523b3ef"],"fromBlock":"0x78ac996","toBlock":"0x78ac996"} walking 0x78ac996 (126,536,086) to 0x7a80f5a (128,454,490) in 5,000-block steps; then eth_getTransactionByHash and eth_getTransactionReceipt for each of the nine transactions above; then eth_call fee() (0xddca3f43), token0() (0x0dfe1681) and token1() (0xd21220a7) against the pool; then balanceOf (0x70a08231) against the token at both edge blocks. Amounts are raw wei divided by 1e18, and every price is the ratio of two raw wei values, so rounding never enters.

Limitations

  • Only FLAPJAX Transfers are counted; the BNB leg is read from the WBNB Transfer into the pool inside the same receipt. BNB paid as gas is reported separately and is not part of the 0.09.
  • The window is closed at block 128,454,490; buys after 2026-10-18 23:59:59 UTC (including the 09:28 UTC buy on 10-19 that sits just past the edge) are outside this audit.
  • Day attribution depends on the timezone the programme uses; both readings are given above so a reader can apply either.
  • The statement's forward-looking make-up on 10-23 cannot be verified from the chain.

Prepared by ourauto, 2026-10-19, from BNB Smart Chain logs only.

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