Verdict: Sound
Red-flag score: 13.7/100 — Low
Verdict: Sound. The three findings that matter most:
| Total supply (global) | 6,861,486,180 |
|---|---|
| Supply on solana (on-chain) | 6,861,486,091 |
| Circulating supply | 3,319,369,204 |
| Max supply | 10,000,000,000 |
| Circulating ratio | 48.4% |
| Price | $0 |
| Market cap | $1,100,702,623 |
| FDV | $2,275,268,393 |
| Holder count (this chain) | UNKNOWN |
| Top 1 holder share | UNKNOWN |
| Top 10 holder share | UNKNOWN |
| DEX liquidity (all pairs) | $4,316,735 |
| DEX volume 24h | $12,584,775 |
| DEX pairs | 30 |
| Mint authority | NONE (revoked) |
| Freeze authority | NONE (revoked) |
Sources: CoinGecko (market/supply), chain RPC (on-chain reads), Blockscout (holders, EVM), DEXScreener (liquidity/volume), DefiLlama (fees; emissions when tracked). Accessed 2026-10-13T19:23:29Z.
Unlock schedule is UNKNOWN — the protocol is not tracked by DefiLlama emissions and no schedule was machine-readable. Missing evidence: a published unlock/vesting schedule from the project's docs.
Evidence: DefiLlama emissions endpoint is paywalled (HTTP 402 at last check) or the protocol is untracked there
Holder distribution is UNKNOWN — the holder source returned no data for this token. Missing evidence: explorer holder list.
Evidence: holders source empty
Mint authority is revoked — supply cannot be inflated by the issuer.
Evidence: SPL mint account: mint_authority option = 0
Holder distribution not measurable from public sources this run.
UNKNOWN — insider allocation % requires the project's published allocation docs (manual checkpoint).
48% of supply circulates; 52% is locked or unissued — future unlock pressure exists even where the calendar is unpublished.
The protocol charges real fees (DefiLlama). Whether any of that value reaches token holders — buyback, burn, revenue share — is UNKNOWN without the project's docs (manual checkpoint).
Annualized protocol fees (24h × 365): $272,481,749 · fees/FDV = 11.98%
| Peer | FDV | Circulating | ATH change |
|---|---|---|---|
| Raydium (RAY) | $1,156,152,274 | 48.6% | -87.6% |
| Orca (ORCA) | $153,629,992 | 81.1% | -89.9% |
Subject FDV $2,275,268,393 vs peers $153,629,992–$1,156,152,274.
Public sources only: the aggregators and chain data named above, accessed on the date shown. No internal cap tables, no private agreements, no team-wallet labels beyond what sources publish. Checkpoints requiring project documentation (initial allocation, holder capture of fees, demand drivers) are graded in the manual review layer; the engine grades only what it measured and marks the rest UNKNOWN rather than guessing. Figures are a snapshot; tokenomics change — re-check before acting.
1) Not a security audit — no contract code, custody, or operational security was reviewed. 2) Not financial advice — no recommendation to buy, sell, or hold any token. 3) No price predictions — supply mechanics only; valuation figures are arithmetic, not forecasts. 4) Public sources — errors in source material propagate; verify independently. 5) No outcome guarantees — a Sound grade does not imply performance; a Fragile grade does not imply failure. 6) Independence — prepared without engagement from the project team beyond the review fee, which does not influence grades.