Evernode
EVR
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Evernode (EVR) is a Layer-2/DePIN compute protocol built on the Xahau sidechain of the XRP Ledger, aiming to provide decentralized smart contract execution via Hooks. The project demonstrates an active development presence with named, reputable founders (Scott Chamberlain and Richard Holland) backed by XRPL Grants and Geveo. However, significant structural and market risks weigh heavily on the project. The codebase lacks any verifiable third-party security audits, and governance remains centralized under Evernode Labs in 'Piloted mode' with a single-source-of-truth host registry. Financially, EVR suffers from an unrecovered -90.8% price collapse from its all-time high, severely fragmented liquidity, near-zero trading volume, and a small market capitalization of ~$6.6M. Note that a data gap exists for Community Support (-1.0), as retrieved data lacked verifiable social and governance metrics for the Xahau-based asset, requiring its 15% weight to be redistributed among the remaining sections. No qualifying red-flag incidents (hacks, fraud, regulatory enforcement) were identified, but the low weighted score reflects significant adoption and operational risks.
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 Evernode (EVR)
Evernode (EVR) is a Layer-2 decentralized physical infrastructure (DePIN) compute protocol operating on the Xahau sidechain of the XRP Ledger. Co-founded by Scott Chamberlain and Richard Holland with support from XRPL Grants and software firm Geveo, the network is designed to provide decentralized smart contract execution using Hooks. The platform uses EVR (also referred to as "Evers") as its native utility asset, which is required for network registration and hosting services.
The protocol features a fixed maximum supply of 72,253,440 EVR issued from a blackholed address. Approximately 71.4% of the total supply is designated for programmatic emission to hosts over a 118-year period, alongside initial airdrop allocations. The founders and Evernode Labs hold an estimated 14.3% allocation that lacks a publicly disclosed vesting schedule. Operationally, the network runs in a centralized "Piloted mode," meaning Evernode Labs maintains administrative control over protocol graduation and governance transitions, while the network depends on a single-source-of-truth host registry.
Evernode exhibits several market, governance, and technical risks. The project has no documented third-party security audits for its codebase. Economically, EVR has experienced a severe, unrecovered price crash of 90.8% from its all-time high of $0.789887 to $0.072539. Furthermore, the token maintains a small market footprint with a market capitalization of approximately $6.6 million, highly fragmented liquidity, and near-zero trading volume across tracking platforms.