Electroneum
ETN
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Electroneum (ETN) is an established mobile-first payments and Layer-1 project operating since 2017. The project transitioned from its legacy Monero-forked chain to an EVM-compatible Layer-1 (Electroneum Smartchain, electroneum-sc) with an IBFT consensus mechanism. Active development is moderate (6.5/10), evidenced by GUI migration tools and integrations, although transparency into post-migration commit velocity is limited. Community support is weak (2.5/10) with minimal verifiable grassroots engagement and an absence of formal governance channels. Tokenomics (4.0/10) reflect a circulating supply of ~85.6% of its 21B maximum supply, though utility remains constrained to mobile remittances and the AnyTask platform, with a weak historical ROI. Market metrics (4.5/10) indicate significant decline, with a low market cap of ~$13.45M and substantial drawdown from its historical peak. The leadership team (5.5/10) led by Richard Ells is public and credible, but governance remains heavily centralized without token-holder voting or DAO mechanics. Security posture (5.0/10) shows positive signals including Hacken smart contract assessments, an active Bugcrowd bounty program, and no historical protocol-level exploits. No qualifying red-flag events triggered overall score capping, and the overall score reflects the exact weighted average across all six sections.
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 Electroneum (ETN)
Electroneum (ETN) is a mobile-first cryptocurrency project established in 2017 that underwent a network migration from its original Monero-forked Layer-1 architecture to the EVM-compatible Electroneum Smartchain (electroneum-sc). Designed primarily for mobile remittances, micropayments, and emerging-market transactions, ETN provides payment functionality for digital services including the AnyTask freelance marketplace and ecommerce integrations.
The project is led by Founder and Chief Executive Officer Richard Ells alongside a public executive team. Electroneum Smartchain operates on an Istanbul Byzantine Fault Tolerance (IBFT) consensus model supported by designated validator nodes. Network governance remains centralized under the core development team and selected validators, with no decentralized autonomous organization (DAO) or on-chain token-holder voting mechanisms. The token has a maximum supply of 21 billion ETN, with approximately 18 billion tokens (~85.6%) in active circulation.
Electroneum has experienced a significant market contraction since its 2017 initial coin offering, trading approximately 99.7% below its historical all-time high with a market capitalization of roughly $13.45 million and thin trading liquidity. From a security perspective, the project's ETNBridge migration smart contracts underwent an assessment by Hacken, and the network maintains an active Bugcrowd vulnerability disclosure program with no documented smart contract exploits or protocol-level breaches to date.