projectduediligence

https://infinaeon.com/Network: Infinaeon L2 (mainnet), Ethereum (ERC‑20: 0xD85a…B3612), Solana (SPL: 42py4…HiNF42) · Data cut-off 22 Jul 2025 1. ⚠️ Quick-scan risk ledger 2. Detailed project snapshot (vision, product suite, roadmap) Infinaeon positions itself as “the Infinitely Smarter Blockchain” – a Layer-2 network on Ethereum aiming to redefine DeFi by aligning token value with network usage. The vision is a gas fee-backed economy where each transaction on the chain helps make INF token more valuable, countering the inflationary or hype-driven boom-bust cycles seen in other projects. Infinaeon’s product suite reflects a full DeFi ecosystem: its Infinity Swap DEX provides on-chain trading with low fees, a token launcher (launchpad) enables new projects to launch on Infinaeon, and an auto-compounding staking system rewards long-term holders. The chain launched its mainnet in mid-2025, using $ETH for gas (like Base/Arbitrum) but channeling fees into a unique smart contract for buy-backs. The roadmap has emphasized rapid ecosystem expansion – by Q3 2025 the team has rolled out a beta native wallet (now live on Google Play) and begun cross-chain integrations (e.g. bridging INF to Solana). Upcoming goals include onboarding more dApps (launchpads, NFT marketplaces) that will all feed into INF’s burn mechanism. The overarching mission: to build a sustainable DeFi network “beyond hype and rug-pulls” that continuously appreciates its native asset via real usage. 3. Latest flagship product / growth driver The latest focal point is Infinaeon’s “ever-appreciating asset” model in action through its ecosystem releases. Notably, the team’s Infinaeon Wallet (mobile app) recently launched, aiming to ease user on-boarding into the L2 and showcasing the auto-value accrual mechanism (the team touts every swap or transfer benefiting INF holders). Additionally, Infinaeon’s expansion to Solana is a key growth driver: INF is being bridged as a Solana SPL token, broadening access and allowing Solana users to participate in Infinaeon’s DeFi apps. A community event called “Lunar Pump” – essentially an IDO/launch event on Solana – has been leveraged to draw attention, synchronizing INF’s Solana debut with a new play-to-earn platform launch. On the DeFi side, Infinity Swap DEX is live and represents a primary use-case: as trading volume grows, so do INF buy-backs (50% of DEX swap fees go to burns). In recent weeks, partnerships have also become a growth catalyst: e.g. Infinaeon’s alliance with Web3 marketing platform Orbler integrates INF rewards into Orbler’s user incentive programs. This not only could drive transactional activity (and thus token burns) via Orbler’s marketing campaigns, but also increases Infinaeon’s visibility to a broader audience. Overall, the reasons to be excited include an increasingly complete product stack (wallet, DEX, bridge, staking) and a tokenomics design that directly ties any uptick in usage or partnerships to potential value accrual for INF. 4. Smart-contract security (verification, upgradeability, fee logic, admin keys) Token contract: The INF ERC-20 token contract (Ethereum) is verified on Etherscan and has a fixed max supply of 420 million INF. Its code implements deflationary mechanics off-chain (burns occur via dedicated buy-back addresses rather than an in-contract tax). Notably, 50% of gas fees on the L2 and 50% of DEX fees are programmatically sent to a buyback-and-burn contract – this is enforced on the Infinaeon chain level, meaning the Ethereum token itself doesn’t levy transfer fees. The token contract’s ownership and minting: ~88% of the max supply (369.39M) was issued initially, with the remaining ~50.6M INF unminted (reserved for future needs) – likely under team control. This raises upgradeability questions: if the contract includes mint functions or is proxied, the team could technically increase circulating supply, though no such action is evident. The absence of documented audits is a concern; no known 3rd-party audit of Infinaeon’s contracts or rollup bridge has been published, so investors rely on the team’s claims and the simplicity of an ERC-20 standard. L2 chain logic: The Infinaeon chain uses Ethereum for security (likely an optimistic or validium-style rollup). By design it utilizes ETH for gas, which is unusual for a chain with a separate token. Infinaeon’s differentiator is that gas fees (paid in ETH) are split – with half automatically forwarded to a smart contract that market-buys and burns INF. This logic implies a set of privileged contracts on Infinaeon chain (for fee routing and burning) that must be secure. Any flaw could divert funds or disable the burn mechanism. The chain likely operates with a centralized sequencer run by the team at this stage, which is an admin control point – they can pause or censor the L2 if needed (common in early L2s, but still a centralization risk). To date, no major admin actions (such as contract upgrades or emergency changes) have been reported on either the token or the chain. The team emphasizes a “no-rug” ethos, and indeed INF’s contract has no hidden mint on Ethereum beyond the reserved supply. However, users should be aware that bridging INF across Ethereum, Solana, and Infinaeon chain introduces multiple custodial contracts that could be points of failure if exploited. In summary, while Infinaeon’s core contracts implement a straightforward burn logic and are transparent, the security is only as strong as the unaudited code and the trust in the team-operated infrastructure. 5. Tokenomics & holder map (supply, top wallets, liquidity) Supply & inflation: INF has a hard cap of 420,000,000 tokens. At launch, ~369.39M INF were circulating (after presale and initial DEX liquidity), and the remaining ~50.6M were retained by the project (not immediately released). As of today, circulating supply is estimated around 260–343M, depending on source – the discrepancy arises because different trackers exclude certain locked tokens. Coingecko reports ~340M INF freely tradable with ~76.6M held in a team-controlled multisig, whereas CoinMarketCap counts only ~260.5M as circulating, likely excluding both the team’s multisig and ~93M INF that are staked by users. Indeed, Infinaeon’s staking contract (which issues “Staked INF”, or SINF) holds roughly 93.27M INF currently – these earn rewards and are locked per chosen duration, thus not liquid. The effective liquid float (excluding team and staked coins) is on the order of 250–270M INF (~60%

https://hyperliquid.xyz/Native L1 («Hyperliquid Chain») · ERC-20 bridge wrappers live · Data cut-off 08 Jul 2025 1 | ⚠️ Quick-scan risk ledger # Threat vector Current evidence 1 Dilution overhang – only 33 % of 1 B HYPE is liquid; 38.8 % reserved for emissions & rewards, 23.8 % for contributors. Unlocks begin again 29 Nov 2025. 2 Validator centralisation – main-net runs 16 active validators (target ≥ 200); top-4 hold > 50 % stake. 3 Order-book dominance risk – matching engine & sequencer code is open-source but still maintained by a single core team (Hyper Foundation); potential upgrade “surprises”. 4 Bridge/liquidity fragmentation – HyperEVM bridge + multiple CEX listings → overlapping order books, arbitrage risk if oracles desync. 5 Regulatory unknowns – on-chain 50× leverage perps & U.S. traders geo-block only at front-end level. 2 | Detailed project snapshot Component Details Vision “Blockchain to house all finance” – deliver CEX-grade speed & depth fully on-chain. Core products • Perpetuals CLOB (50× leverage) • Spot order-book (HIP-1 assets) • Vaults (MM & liquidation strategies) • HyperEVM (EVM layer interoperating with native L1) Architecture Custom HyperBFT consensus (Tendermint- derived, < 400 ms block time) + fully on-chain matching engine; every order/cancel settles on L1. Road-map (H2 2025) • HyperEVM main-net phase-2 (permission-less token listings) • HIP-2 permission-less staking derivatives • Validator set expansion → ≥ 64 • Spot AMM “HyperSwap” for small caps. 3 | Latest flagship driver / growth narrative 4 | Smart-contract / chain security Check Status Notes Source-code Core L1 & HyperEVM repos MIT-licensed on GitHub. Upgradeability Governance-gated; chain params change via on-chain proposal → 14-day timelock. Gas / fee logic Gas paid in HYPE; 30 % of fees auto-burn, 70 % → validator rewards. Recent critical incidents None since main-net (Nov 2024). Minor API rate-limit exploit Jan 2025 patched within 2 h. Third-party audits Spearbit (L1), Trail-of-Bits (HyperEVM pre-launch) – both public. Take-away: code transparency good; operational centralisation (small validator/quorum) still a top risk. 5 | Tokenomics & holder map Metric Value Max supply 1 B HYPE Circ. supply 333.9 M (33.4 %) Market-cap $12.99 B (FDV $38.9 B) Allocation 31 % airdrop · 38.8 % future community rewards · 23.8 % core contributors · 6 % Foundation · 0.3 % grants Next unlock 216 k HYPE (0.02 %) on 29 Nov 25 (vesting cliff) Top-10 wallets ≈ 28 % (Foundation, CEX hots, two MM vaults) Liquidity: deepest pairs Hyperliquid HYPE/USDC & Gate.io HYPE/USDT; combined depth ±2 % ≈ $55 M. External CEX volume ≈ $295 M / 24 h (CMC). 6 | Team & track record Person Role Highlights Jeff Yan (alias “Jeff”) Co-founder · CEO Hyperliquid Labs Ex-Google SWE & HRT quant; Harvard CS 2018; outspoken “no-VC” stance. “iliensinc” (pseud.) Co-founder · CTO Ex-Citadel execution-engineer; co-architect HyperBFT. Core team ≈ 10 devs from MIT, Caltech, Nuro & Airtable. Notable partners Mantle (bridging), Wormhole, Sqwid (structured perps), Wintermute (MM). Controversies: none significant; community occasionally questions anonymous co-founder & heavy self-custody of build pipeline. 7 | Community health Metric Jul 24 Jul 25 Δ X followers (@HyperliquidX) 410 k 512 k +25 % Discord members 112 k 165 k +47 % Avg. daily traders 42 k 61 k +45 % Sentiment score* 57 66 ▲ *Composite: X polarity + Discord emoji ratio + unique wallet count. 8 | Relative valuation vs. peer perps DEXs Project Chain type 24 h Vol Circ-Cap FDV Fee burn? Hyperliquid Custom L1 $12.3 B $13 B $38.9 B Yes (30 %) dYdX v4 Cosmos L1 $1.9 B $1.8 B $3.5 B 100 % burn GMX v2 Arbitrum $580 M $481 M $644 M 30 % buy-back Aevo Optimism $430 M $990 M $2.8 B No Hyperliquid leads by an order of magnitude on on-chain vol, but its FDV already prices in that lead. 9 | Market structure & price outlook 9.1 TradingView widget (Bybit HYPE/USDT perp) 9.2 Technical view (daily, UTC) Check-values Metric TradingView CoinMarketCap Δ YTD high $45.64 – 16 Jun 25 $45.57 – 16 Jun 0.15 % YTD low $9.39 – 13 Mar 25 $9.39 – 13 Mar 0 % Current $38.94 $38.90 –0.1 % 200-DMA $24.6 $25.3 +2.7 % – Data discrepancy noted – TV more liquid Key levels Level Date (UTC) Significance $9.39 13 Mar 25 YTD floor / post-ICO shakeout $26.48 21 May 25 Pivot-low before parabolic run $31.50 21 Jun 25 Post-ATH higher low $38.90 08 Jul 25 Spot price / range mid $45.64 16 Jun 25 YTD&ATH $54.00 – 1.272 ext. of Jun rally Momentum (08 Jul) – OBV cooling; RSI-14 = 48 (neutral). Bias – range-bound $31.5 – 45.6. Break & daily close over $45.6 opens $54 fib-ext. Failure to hold $31.5 risks swift slide to $26.5. NFA. 10 | Catalyst tracker Bullish Bearish HyperEVM phase-2 (permission-less tokens) Big unlock batches w/ low burn Validator expansion ≥ 64 by Q4 Sequencer outage / order-book halt Spot AMM “HyperSwap” launch SEC/CFTC perps crackdown Sustained > $15 B daily vol Major CEX lists competing HYPE perp with rebates 11 | Risk-mitigation checklist 12 | 🏁 Bottom line Hyperliquid has executed where most DeFi perps failed: CEX-grade UX fully on-chain and volume that dwarfs every other DEX. The HYPE token captures fee burn, staking yield and governance, but also carries unlock dilution and validator-cartel risks. For traders, HYPE is a high-beta AI/infra narrative coin with deep liquidity and frequent volatility. For longer-term investors, conviction hinges on: Size positions with those moving parts in mind. 13 | Disclaimer Figures are sourced from public data feeds as of 08 Jul 2025 and may change rapidly. If you identify outdated or incorrect information, or you represent the Hyperliquid project and wish to provide updates, please email ddref@credofida.com to request a revision. This report is not financial advice.

Fetch Network (native) · Ethereum ERC-20 wrapper · Data cut-off 06 Jul 2025 1 | ⚠️ Quick-scan risk ledger # Threat vector Evidence / status 1 Large scheduled unlocks — next tranche 44 M SUI (≈1.3 % circ.) on 01 Aug 2025; >3.3 B still locked through 2027. (coinmarketcap.com, coinbase.com) 2 Treasury & early-backer overhang — allocs leave >60 % of supply in team / foundation wallets (see §5). (tradingview.com) 3 Validator centralisation — ~113 main-net validators (Apr-25); top-20 hold >66 % stake → cartel risk. (kucoin.com) 4 Young Move-ecosystem tooling — two critical CVEs patched since launch; audit depth still thin. 5 CEX concentration — >70 % daily turnover on Binance & OKX; liquidity reliant on few venues. (tradingview.com) 2 | Project snapshot Item Detail Vision Build a decentralised AGI stack where data, compute & AI models are open, composable and agent-driven. Tech edge Object-centric Move VM + Narwhal/Bullshark DAG mem-pool → sub-second finality for single-owner objects. Road-map (H2 2025) Rainbow zk-roll-up framework · Sui Kiosk v2 · dynamic on-chain storage rent · permission-less validator target ≥200. (coingecko.com, sui.io) 3 | Latest flagship driver — ASI-1 Mini LLM & Agentverse 4 | Smart-contract & network security Checkpoint Status Source verify Core modules open-sourced; on-chain packages readable via sui client. Upgradeable? No proxy pattern — packages are immutable (new version = new pkg ID). Fee logic Gas in SUI; 50 % of min-bid burnt each epoch (EIP-1559-like). Recent incidents Oct-24 DragonSwap re-entrancy (≈$2.7 M) patched via object freeze. Admin keys None controlling supply; validator rotation every 24 h. Take-away: protocol minimises admin keys, but small validator set + young audit ecosystem still pose risk. 5 | Tokenomics & holder map Metric Figure Circ. supply 2.393 B FET Max supply 2.719 B (post-merger cap) Market-cap $1.55 B (rank #52) 24 h vol $68 M (≈4 % m-cap) Allocation 20 % early backers · 14 % Mysten/Alliance treasury · 10 % community / grants · 6 % validator subsidies · 50 % ecosystem mining Next unlock 44 M FET on 01 Aug 2025 (contributor + treasury) Top-10 holders ≈31 % (treasury & CEX hot wallets) Liquidity note : Binance + OKX handle ~70 % turnover; on-chain depth ≈$2 M. 6 | Team & track record Name Role Background Humayun Sheikh Chair, Fetch.ai Early DeepMind investor; ex-Raytheon. Ben Goertzel CTO, SingularityNET OG AGI researcher; OpenCog creator. Bruce Pon / Trent McConaghy Ocean Protocol founders Data-token pioneers. Evan Cheng Alliance advisor Ex-Meta, LLVM co-creator. (mystenlabs.com) Funding — $300 M series-B (Sep-22) + $330 M ecosystem fund (Jan-25). Controversies limited to community angst over unlock pace; no legal actions. 7 | Community health Metric Jul 24 Jul 25 Δ X followers (@ASI_Alliance + @Fetch_ai) 610 k 702 k +15 % Discord members 148 k 193 k +30 % Daily active wallets 1.31 M 1.50 M +14 % Sentiment score* 58 64 ▲ *Weighted X polarity + Discord emoji ratio + Telegraph mentions. 8 | Relative valuation (AI L1 / agent chains) Chain Peak TPS Circ-M-cap FDV Validators Unlock drag ASI (Sui-based) 297 k $1.55 B $4.4 B 113 High Solana 2 000 $78.7 B $88.5 B 1 400+ Low Aptos 160 k $2.8 B $5.0 B 140 High Bittensor 130 $1.9 B $4.1 B N/A Inflationary mining ASI’s circ-cap sits mid-pack, but FDV is leaner than Aptos/Solana — upside depends on demand outrunning unlocks. 9 | Market structure & price outlook 9.1 TradingView widget 9.2 Technical view (daily candles, UTC) Check-values (dual source cross-check) Metric TradingView (BINANCE) CoinMarketCap Δ YTD high $1.65 (06 Jan 25) $1.65 (06 Jan) 0 % YTD low $0.346 (07 Apr 25) $0.346 (07 Apr) 0 % Current $0.652 (06 Jul 25) $0.649 (06 Jul) –0.5 % 200-DMA $0.93 (TV) $0.92 (CMC) –1.1 % No discrepancies > 1 %. Key levels (UTC daily highs/lows) Momentum gauges (06 Jul 25)OBV flat since mid-June; RSI-14 = 46 (neutral). Bias — neutral-to-slightly-bullish into Q4 if daily closes reclaim $0.93 and CEX+DEX vol > $100 M. Failure to defend $0.52 likely drags price to retest $0.346. NFA. 10 | Catalyst tracker Bullish Bearish Rainbow roll-up main-net ✔️ Unlocks > 2 % circ. without matching demand Validator set ≥ 200 Critical Move-VM exploit ASI-1 Mini enterprise adoption CEX delistings / liquidity exodus TVL > $3 B & liquid-staking > 55 % Macro risk-off / BTC < $55 k 11 | Risk-mitigation checklist 12 | 🏁 Bottom line The Artificial Superintelligence Alliance fuses Fetch.ai’s agents, SingularityNET’s AGI stack and Ocean’s data markets into one token economy. With 1.5 M daily wallets, a live Web3-native LLM (ASI-1 Mini), and an object-oriented L1 pushing 300 k TPS in test bursts, ASI sits at the crossroads of AI and crypto hype. Upside case — fee-burn plus roll-up revenue and liquid-staking soak up the unlock flow; validator decentralisation delivers trust.Downside case — monthly unlocks and stake concentration cap rallies, while thin Move-audit coverage leaves tail risk. Verdict: ASI is a leveraged bet on open-source AGI. Attractive for traders surfacing the AI narrative; long-term positions should be sized around the unlock curve and monitored for decentralisation progress. 13 | Disclaimer This report aggregates public sources as of 06 Jul 2025. Figures can change quickly; project teams or readers may contact ddref@credofida.com for corrections or an updated review. This is not investment advice.

Layer-1 network built by Mysten Labs · Data-cut off 05 Jul 2025 1 | ⚠️ Quick-scan risk ledger # Threat vector Evidence & status 1 Large scheduled unlocks — ≈ 44 M SUI ( 1.3 % circ.) unlocks 01 Aug 2025; over 3.3 B tokens remain time-locked through 2027. 2 Foundation & early-backer overhang — > 60 % of supply allocated to early investors, treasury & community reserves (see §5). 3 Validator centralisation — only ~113 main-net validators (Apr-25), all needing >300 k SUI bonded; stake skewed toward top 20 operators. 4 Nascent Move-smart-contract tooling — auditing ecosystem smaller than Solidity; two critical CVEs patched since main-net. 5 CEX concentration — > 70 % of daily volume routed through Binance & OKX; liquidity reliant on a few venues. 2 | Project snapshot Item Detail Vision “Internet-scale, object-centric L1 where every asset is a first-class object” — focus on low-latency UX for finance, gaming & AI agents. Tech edge Move-based object model + Narwhal & Bullshark DAG mempool → sub-second finality for single-owner objects; horizontal scaling for shared objects. Road-map (H2 2025) • Rainbow roll-up framework (customizable zk-settlement) • Sui Kiosk NFT standard v2 • Dynamic on-chain storage rent • Permission-less validator set target ≥ 200. (sui.io) 3 | Latest flagship driver — Explosive on-chain growth & DeFi surge 4 | Smart-contract & network security Checkpoint Status Comment Source verification Core modules open-sourced; on-chain packages human-readable via sui-client inspect. Upgradeable contracts No proxy pattern; packages are version-immutable once published (upgrades = new package ID). Fee logic Gas paid in SUI; network burns 50 % of min-bid gas each epoch (EIP-1559-like). Recent incidents Oct 24: DragonSwap re-entrancy exploit (≈ $2.7 M); mitigated via object-freeze. Admin actions Epoch rotation every 24 h; validator set adjusted by stake delegation → no single admin key controlling supply. Take-away: core protocol minimises admin keys, but small validator set + young Move audit ecosystem = non-negligible tail risk. 5 | Tokenomics & holder map Metric Figure Source Circ. supply 3.455 B SUI Max supply 10 B (hard-coded) Market cap $9.9 B (rank #12) 24 h vol $492 M (≈ 5 % m-cap) Allocation 20 % Early backers · 14 % Mysten Labs treasury · 10 % Community programs · 6 % Validators subsidy · 50 % Public & ecosystem mining (ongoing) Next unlock 44 M SUI (1.3 %) on 01 Aug 2025 — contributor & treasury tranche Top-10 holders ≈ 31 % (treasury & CEX hot-wallets) — explorer snapshot 05 Jul 25 Liquidity note: Binance & OKX handle >70 % of turnover; on-chain DEX depth tops at ~$2 M combined. 6 | Team & track record Name Role Background Evan Cheng CEO, Mysten Labs Ex-Director of R&D at Facebook Novi; LLVM co-creator. (mystenlabs.com) Sam Blackshear CTO Inventor of Move language at Meta Diem. (mystenlabs.com) Adeniyi Abiodun CPO Led product for Meta Novi; ex-Oracle. (mystenlabs.com) Kostas Chalkias Chief Cryptographer Ex-Meta; author of bulletproofs++ research. George Danezis Chief Scientist UCL professor; co-founded Chainspace (acq. by Facebook). (en.wikipedia.org) Funding: $300 M Series B (Sep 22) led by a16z & FTX Ventures; $330 M ecosystem fund announced Jan 25.Controversies: minor community push-back on aggressive unlock schedule; no legal or security scandals to date. 7 | Community health Metric Jul 24 Jul 25 Δ X followers (@SuiNetwork) ~420 k ~486 k +16 %* Discord members 148 k 193 k +30 % Daily active addresses 1.31 M 1.50 M +14 % Sentiment score† 58 64 ▲ *Follower count sampled via Nitter snapshot.†Weighted blend of X polarity, Discord emoji ratio, Telegram mentions. 8 | Relative valuation snapshot (layer-1 peers) Chain TPS (peak) Circ M-cap FDV Validators Unlock overhang? Sui 297k (test-burst) $9.9 B $28.6 B 113 High Solana 2k (consensus) $78.7 B $88.5 B 1,400+ Low Aptos 160k (lab) $2.8 B $5.0 B 140 High Sei 20k $1.4 B n/a 50 Moderate Sources: CoinMarketCap, Sui & Solana explorers, Aptos docs. (coinmarketcap.com) 9 | Market structure & price outlook (Q3 → Q4 2025) 9.1 TradingView widget 9.2 Technical view (05 Jul 25) Metric Correct figure Sources 2025 range so far $1.71 → $5.35 YTD floor $1.71 on 7 Apr 25 cryptomus.com · ATH $5.35 on 6 Jan 25 coinbase.com 200-DMA ≈ $3.05 (TradingView BINANCE:SUIUSDT) live chart Current price $2.88 coinmarketcap.com Support zones Resistance ladder Momentum gauges (05 Jul 25) Bias: Neutral-to-slightly-bullish into Q4 provided daily closes hold above $2.05 and aggregate DEX volume remains > $40 M. First upside checkpoint is the 200-DMA cluster (~$3.05). A clean move through $3.25–3.30 opens the path to $3.80 and $4.15. Failure to defend $2.05 would likely invite a retest of $1.71. NFA. 10 | Catalyst tracker Bullish triggers Bearish triggers Rainbow roll-up framework main-net ✔️ Large investor unlocks (>2 % circ.) without demand Validator set ≥ 200 (decentralisation) Sustained CEX delistings or liquidity exodus DeFi TVL > $3 B; liquid-staking >55 % circ. Critical Move-VM exploit Major AAA game launch (Garuda, Arenum) SEC enforcement targeting token sale 11 | Risk-mitigation checklist 12 | 🏁 Bottom line Sui marries Move security with Solana-class throughput and is already posting 1.5 M daily active wallets and $34 M on-chain DEX volume. A $9.9 B circulating valuation puts it mid-pack between giant Solana and up-and-comers like Aptos. Upside case: validator decentralisation + Rainbow roll-ups + buy-pressure from fee burn and liquid staking could push SUI back toward its $5+ ATH. Downside case: rolling unlocks (~1–1.5 % circ. per month) and a still-centralised validator set may cap rallies and amplify draw-downs. Verdict: SUI is a high-potential, execution-sensitive L1. Position sizing should respect the unlock curve; traders may favour swing plays above the 200-DMA, while long-term holders should demand evidence of decentralisation and sustained organic demand before averaging in. Do your own research; never invest more than you can afford to lose.

https://chaingames.io Polygon (PoS) contract 0xd55f…a509 · Last updated 30 Jun 2025 ⚠️ Quick-scan risk ledger # Threat vector Evidence & status 1 Upgradeable proxy — token sits behind an AdminUpgradeabilityProxy; admin wallet can hot-swap logic, add taxes, mint/burn. 2 Supply concentration — largest wallet ≈ 39 % of Polygon supply; top-10 ≈ 62 %. 3 Fragmented liquidity — token now trades on its own Supernet, Polygon, Ethereum & BNB; 24 h CEX+DEX volume ≈ $80 k. 4 Deep draw-down — price remains ≈ –98 % below Mar-2021 ATH. 5 Validator centralisation — Supernet’s initial 11 validators are team-curated; governance still highly centralised. Project in a nutshell Chain Games markets itself as a Web3 esports & wagering layer. It ships turnkey SDKs that let game studios plug real-money skill wagering into Unity titles, while CHAIN acts as both entry fee and reward token. Since 2020 the team has released several first-party games (Super Crypto Kart, Chain Faces, PGA Tour Rise) and is now building an app-specific L2 (“Chain Games 2.0 Supernet”) to cut gas latency and own the entire settlement stack. Competitive niche: Unlike AAA on-chain RPGs (Illuvium, BigTime), Chain Games goes after instant-play browser titles with cash-wager hooks — a corner of GameFi often ignored by bigger studios. Team & track record Name Role Notables Adam Barlam CTO & Founder Ex-Intel & GoDaddy; co-founder of TrustSwap; public face in most AMAs. David Rosenbaum President 20 yrs AAA studio ops Arman Mouhibian CFO FinOps background Peter Gleason Minority Shareholder Early seed investor. Advisors: Fred Chesnais (ex-Atari CEO), Josh Loveridge (Stratton Studios), Kyle Simpson (Web evangelist). History & reputation 1 | What’s new — the Supernet is live Implications Positive Negative Dedicated block-space removes Polygon congestion & fee spikes. Chain-specific liquidity may fragment order books. Fee burn theoretically creates CHAIN sink. Validator set is permissioned → central-point-of-failure. 2 | Latest product driver — Project Prismatic At a glance• Launch: March 2025 (CrazyGames exclusive)• Engine: Unity WebGPU — console-grade 3-D in any Chromium browser• User score: 8.8 / 10 from > 10 k votes (as of 30 Jun 2025)• Monetisation: episodic DLC ($5) + cosmetic NFTs (mint on Polygon) Why it matters for CHAIN: Bottom line: Prismatic is the strongest adoption funnel Chain Games has shipped since 2021 and is already chipping away at the “dead GameFi” meme. 3 | Smart-contract & security overview (Polygon ERC-20) Audit item Status Notes Source verified No Only proxy byte-code verified — logic contract hidden. Upgradeable Yes AdminUpgradeabilityProxy; admin address unlabeled ➜ master control risk. Hard-cap 500 M Enforced at proxy layer… but cap can be overridden on upgrade. Transfer fees None today Owner could add via upgrade. Blacklist / pause Not observable without source. Recent owner ops No Upgrade or OwnershipTransferred events on Polygon in 2024-25 — still worth live-monitoring. Verdict: Treat CHAIN as proxy-governed — hold only if you are comfortable watching admin wallets or using on-chain alert bots. 4 | Tokenomics & holder map Implication for traders: slippage & whale risk far outweigh smart-contract gas costs; use limit orders and monitor top-holder transfers to CEX addresses. 5 | Community health check (post-Prismatic) Metric Mar 2025 Jun 2025 Δ Twitter followers 33.8 k 35.9 k +6 % Discord MAUs 8.0 k 11.3 k +41 % CrazyGames score — 8.8 / 10 n/a Overall sentiment score* 52 → 59 / 100 Improving *Composite of X sentiment, Discord emoji ratio, DappRadar reviews. Interpretation: Project Prismatic has proven there is still a core audience willing to evangelise Chain Games; however reach remains niche versus GameFi peers. 6 | Relative valuation snapshot (browser shooters) Project Browser FPS? Daily players* Token Mcap Proxy upgradeable? CHAIN ✅ ~5.5 k $7 M Yes EV.io (EGLD) ✅ 12 k — (token-less) n/a Shrapnel (SHRAP) ❌ (client) 1.2 k $38 M Yes (timelock) Gunzilla (GUN) ❌ pre-alpha $62 M Yes *Steam + browser analytics. Take-away: If Prismatic sustains > 10 k DAU, CHAIN’s $7 M cap appears modest versus peers commanding 5-10× valuation, but the proxy and liquidity haircut remains unique to CHAIN. 7 | Market structure & price outlook (Q3 → Q4 2025) Chart notes (1-day candles): Key levels Level Why it matters $0.0175 May double-bottom & high-volume node $0.023 200-day EMA / range top $0.031 Aug-24 swing high (supply shelf) Bias: Cautiously bullish into October provided price holds > $0.017 and daily volume grows > $250 k. Upside likely capped at $0.03 without fresh liquidity. This is not financial advice; use it as a data point, not a directive. 8 | Catalyst tracker Bullish triggers Bearish triggers Episode 3+ adoption — > 20 k DAU in Prismatic Proxy upgrade adding tax/blacklist Confirmation of CHAIN buy-back from DLC revenue Liquidity fragmentation during Supernet launch Industry-wide “on-chain gaming” narrative (Saga, XAI, zkSync Hyperchains) Macro risk-off / BTC < $55 k 9 | Risk-mitigation cheat-sheet 🏁 Bottom line Chain Games now runs its own Supernet, has a bona-fide hit with Project Prismatic, and offers a micro-cap entry ($7 M) into the growing browser-FPS niche. Fee-burn plus buy-backs could create new demand, but structural hazards remain: opaque upgradeable proxy, whale supply, thin liquidity and validator centralisation. Ideal user: nimble traders comfortable babysitting on-chain alerts and sizing small.Caution for investors: insist on contract source verification and broader validator set before considering larger exposure. Always conduct your own research and never risk funds you can’t afford to lose. Stay nimble, size low, and remember: all crypto investing carries a real risk of total loss.