Spectra [OLD]
APW
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
APW (Spectra [OLD], formerly APWine) is a deprecated and legacy token that has been migrated to the successor token SPECTRA on Base following governance proposal SIP 3 in December 2024. Active Development and Community Support scored -1.0 due to data gaps resulting from protocol activity, developer efforts, and governance completely shifting to the new token. Among remaining sections, Tokenomics scored 1.0/10 as token emissions ceased in December 2024 and utility migrated to SPECTRA. Market and Use Case scored 1.5/10, reflecting negligible daily trading volume (under $4) and illiquidity. Team and Governance scored 3.0/10 due to pseudonymous/unlisted team members in documentation and incomplete governance records. Security and Audit History scored 4.5/10, acknowledging formal audits by Pashov and Code4rena and an active Immunefi bug bounty, counterbalanced by a minor $73K exploit on July 24, 2024, caused by an input validation flaw. Because APW has been fully superseded and deprecated, investors should avoid this legacy asset.
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 Spectra [OLD] (APW)
Spectra [OLD] (APW), formerly known as APWine, is a deprecated legacy token that migrated to the successor token SPECTRA on Base following a governance decision in December 2024. Originally deployed on Ethereum and Polygon PoS, the APWine protocol was designed as a decentralized finance yield-tokenization platform that separated interest-bearing assets into Principal Tokens and Yield Tokens for yield-rate risk management. APW served as the protocol's governance and incentive token, utilizing a vote-escrow (veAPW) model for gauge voting and protocol parameters.
Under governance proposal SIP 3, passed in December 2024, the Spectra DAO officially approved the transition from APW to SPECTRA with a fixed 1:20 migration ratio and a 52-week bridge window. APW token emissions ceased entirely on December 19, 2024, and all governance, locking mechanisms, developer resources, and protocol utilities were transferred to the new contract structure on Base. Consequently, APW retains no ongoing active development or utility, exhibiting negligible trading volume and low liquidity.
Prior to its migration, the protocol's smart contracts were audited by Pashov in March 2024 and Code4rena in April 2024, alongside an active bug bounty program on Immunefi. Despite these security assessments, Spectra Finance experienced an exploit on July 24, 2024, resulting from an input validation flaw that led to a loss of approximately $73,000. Additionally, the project operates without publicly identified team members in its documentation.