Ternoa
CAPS
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
CAPS (Ternoa) displays a weak overall profile driven primarily by stalled development activity, minimal community engagement, and severely deteriorated market liquidity. Active development has shown no verifiable releases or code updates since mid-2024 despite an extensive historical codebase. Community metrics reflect a dormant user base, while market metrics show micro-cap valuation ($500K-$1M) alongside near-zero trading volume and an unrecovered ~97% price decline from peak levels. Tokenomics present risks around insider concentration (~39%) and a 15% untracked supply bucket, although max supply remains capped at 2.50B. On the positive side, Ternoa maintains a functional on-chain Democracy governance system and a clean security incident history with no reported exploits, depegs, or regulatory enforcement actions, despite its primary bug bounty program expiring and third-party audit reports remaining unverified.
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 Ternoa (CAPS)
CAPS is the native utility token of Ternoa, a Substrate-based Layer 1 blockchain project that also operates as an ERC-20 token on Ethereum. Originally launched with a focus on non-fungible tokens (NFTs), the project subsequently repositioned its product focus toward security and confidential computing infrastructure. In this framework, the CAPS token is utilized for network governance, staking, and fee settlement for protocol services, including TEE Integrity Prover (TIP) verification and CIFER encryption features settled on Base.
The network uses an on-chain Democracy governance system featuring conviction voting and a dual-queue framework composed of a public queue and an external collective queue. Staked CAPS tokens allow holders to participate in protocol referendums and require an unbonding period of approximately 28 days. The token has a hard-capped maximum supply of 2.5 billion units. However, tokenomics evaluations note significant concentration risks, with roughly 39% of the supply allocated to team, development, marketing, and reserves, alongside a 15.05% untracked supply allocation and conflicting circulating supply reporting across data aggregators.
Ternoa faces several operational and market challenges. Active development has stalled, with no verifiable software releases, roadmap milestones, or governance actions recorded since mid-2024. The project has experienced a price decline of approximately 97% from its initial fully diluted valuation, resulting in a micro-cap market valuation, subdued community engagement, and minimal daily trading volume. While the project has maintained an exploit-free track record with no recorded protocol hacks, depegs, or regulatory enforcement actions, its primary bug bounty program has ended and independent third-party audit reports remain unverified.