Anvil
ANVL
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
ANVL serves as the governance token for the Anvil credit and collateral protocol on Ethereum. The protocol shows a solid security profile, benefiting from diff audits by OpenZeppelin, secondary confirmation of Trail of Bits audits, active bug bounties, and acceptance into the Ethereum Security Subsidy Program in June 2026 with no record of exploits. However, the project faces notable headwinds: development and repo activity documentation remains thin, market liquidity is weak with low trading volume relative to its circulating float, and token utility is largely restricted to governance without direct value capture. Additionally, a data gap occurred in Team and Governance (scored -1.0 due to entity disambiguation issues in retrieved sources), which was excluded from the weighted score calculation. With no qualifying red-flag events, the overall evaluation reflects moderate fundamentals tempered by liquidity constraints and limited data visibility.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Anvil (ANVL)
ANVL is the ERC-20 governance token for Anvil, a credit and collateral protocol deployed on the Ethereum blockchain. The protocol is structured to provide infrastructure for secured credit and collateral management beyond standard decentralized finance lending mechanisms. The token functions with a fixed total supply of 100 billion units, of which approximately 80% is in circulating float.
ANVL's primary utility is restricted to protocol governance, operating through community proposals and a Governance Council without integrated fee-capture, staking yields, or burn mechanisms. The token's smart contract implementation underwent an upgrade and diff audit by OpenZeppelin in October 2025, which covered a transition from a legacy ERC20Votes implementation to a direct ERC20Votes extension. Security assessments also cite audits by Trail of Bits and bug bounty programs through Immunefi, and the protocol was accepted into the Ethereum Security Subsidy Program in June 2026.
The project faces notable market and operational constraints. Market metrics demonstrate low liquidity, with daily trading volumes hovering around $100,000 against a market capitalization between $60 million and $80 million, alongside a concentrated holder base of approximately 3,331 addresses. In addition, verifiable development repository activity, clear vesting schedules for the remaining 20% token reserve, and formal team identity documentation remain limited or unverified across available records.