DexNet

DEXNET presents a highly concerning investment profile that pairs a theoretically viable DePIN concept with critical red flags in execution and transparency. While the project outlines a compelling use case for decentralized internet infrastructure and possesses a structured tokenomics model (scoring 6.5 in both areas), these positives are heavily outweighed by severe deficiencies in development and trust. The project receives a 1/10 for Active Development due to a complete absence of open-source code or verifiable repositories, making it impossible to confirm if the claimed technology actually exists. Furthermore, Community Support is virtually non-existent (1.5/10), dominated by warnings of scams and 'pig butchering' operations on platforms like Reddit. The Team and Governance section highlights reliance on Multi-Level Marketing (MLM) tactics for hardware sales and centralized control, further eroding credibility. Security is also compromised by centralization risks in the smart contract (e.g., blacklist functions) and a lack of top-tier audits. Despite the ambition of its physical infrastructure goals, the lack of transparency and prevalence of fraud allegations make this a dangerous asset.