BitShares
BTS
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
BitShares (BTS) is an early decentralized exchange blockchain that has experienced prolonged stagnation and declining relevance across all evaluation vectors. Community Support had insufficient data returned (-1.0) and was excluded from scoring, with its weight redistributed across remaining categories. Active Development scored 2.0/10 due to stalled development posture, with the last tagged release dating back to December 2023 and no active protocol updates. Tokenomics (3.5/10) exhibits concentration risk and undeployed supply headroom against negligible market demand. Market and Use Case (3.0/10) reflects severe market marginalization with a micro-cap valuation ($3.4M-$4.1M) and thin liquidity. Team and Governance (4.0/10) maintains a documented historical framework but suffers from stale operational disclosures and pseudonymous management layers. Security and Audit History (3.0/10) suffers from an absence of modern third-party audits and historical collateral stress mechanisms, though no affirmative severe protocol exploit was confirmed within the past 24 months.
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 BitShares (BTS)
BitShares (BTS) is the native utility and governance token of the BitShares blockchain, an independent network designed as a decentralized platform for global payments, crypto trading, and decentralized exchange functionality. The BTS token functions as the core asset within the network, utilized for transaction fee settlement, on-chain governance voting, and collateralization for market-pegged SmartCoins (BitAssets) such as BitCNY and BitUSD.
The network features an on-chain governance framework that includes token-holder voting, a committee for fee management, and worker-proposal funding mechanisms. However, active development on the protocol has stalled, with the latest tagged release of BitShares Core (version 7.0.2) published in December 2023 and no subsequent major updates or mainnet hard forks documented. The tokenomics structure retains concentration risks from its legacy genesis distribution and maintains an undeployed supply headroom without a documented emission schedule.
BitShares has experienced severe market marginalization, characterized by thin trading liquidity, micro-cap market valuations, and an unrecovered price drawdown exceeding 90% from its January 2018 all-time high. The token was subjected to an exchange delisting by Binance in 2019. Additionally, the protocol historically suffered depeg and global-settlement stress events affecting its collateralized BitAssets, which required remediation via BitShares Improvement Proposals (BSIPs 16, 17, and 18), and the network currently lacks verified recent third-party security audits.