Ekubo Protocol
EKUBO
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Ekubo Protocol is a leading concentrated-liquidity AMM DEX on Starknet with ongoing multi-chain expansion to EVM networks. The project scores well in Active Development (7.5/10), Team & Governance (7.5/10), and Tokenomics (7.5/10), benefiting from a fixed 10M supply with zero future unlock pressure, credible leadership from an ex-Uniswap Labs engineer, and high community participation in governance. However, Market & Use Case is weak (4.0/10) due to thin liquidity, low trading volume, and an unrecovered 93.7% drawdown from all-time highs. Furthermore, the overall score is subject to the Red-Flag Cap due to a qualifying security incident: "On May 5, 2026, an exploit occurred on Ekubo's EVM swap router where custom extension callback validation flaws allowed attackers to drain approximately $1.4 million in wrapped bitcoin (~17 WBTC across ~85 transactions) via ERC-20 allowances." This qualifying exploit of over $1.0M caps the final score at 5.0/10.
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 Ekubo Protocol (EKUBO)
Ekubo Protocol is an automated market maker (AMM) and concentrated-liquidity decentralized exchange originally deployed on Starknet and expanded to Ethereum Virtual Machine (EVM) chains. Founded by Moody Salem, a former engineering lead at Uniswap Labs, the protocol provides concentrated liquidity trading infrastructure, custom extension support such as Time-Weighted Automated Market Makers (TWAMM), and third-party aggregator routing. Its native token, EKUBO, serves as the protocol's governance token across its decentralized autonomous organization (DAO).
The EKUBO token has a fixed total supply of 10 million tokens, with the entire supply in circulation and no future token unlock schedules. Token distribution allocated 33.33% to fair-sale and airdrop participants, with the remaining 66.67% assigned to the DAO treasury, ecosystem grants, and liquidity incentives. The token enables on-chain governance voting, fee-switch buyback mechanisms, and staking (sEKUBO) for fee rebates and revenue distribution.
The protocol faces several market and security challenges. The EKUBO token has experienced low market adoption, characterized by daily trading volumes between $1,000 and $8,000, a small holder base on Ethereum, and an unrecovered 93.7% drawdown from its all-time high. In security history, despite audits by Nethermind Security and Code4rena, Ekubo's EVM swap router suffered an exploit on May 5, 2026. The incident exploited validation flaws in custom extension callbacks to drain approximately $1.4 million in wrapped bitcoin (~17 WBTC across ~85 transactions) from user wallets with active contract allowances. While liquidity providers and the core Starknet deployment were unaffected, the immutable nature of the EVM router required a full contract redeployment.