Flayer
FLAY
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
FLAY (Flayer) is the governance and utility token formed via the merger of NFTX and FloorDAO in September 2024, powering the Flaunch memecoin launchpad on Base. The project exhibits significant structural and market weaknesses across multiple dimensions. There is a data gap in Community Support (-1.0) due to a lack of verifiable engagement, activity, and sentiment metrics, requiring its 15% weighting to be redistributed among the remaining sections. Active Development scores moderately (5.0/10) with some documentation updates and releases noted, but lacks detailed repository metrics or commit hygiene. Tokenomics (5.0/10) features a fixed 1B max supply and fee switch utility, but faces steep holder concentration and an unrecovered price drawdown. Market and Use Case (3.0/10) reflects minimal traction, a low market capitalization ($3.15M-$3.67M), near-zero trading volume, and fierce competition in the memecoin launchpad space. Team and Governance (5.5/10) reflects known DAO lineage but anonymous core individuals. Security and Audit History (3.5/10) represents a major vulnerability, marked by zero formal audits, unverified team KYC, a CCC-tier CertiK Skynet rating (59.39), and 73.73% holder concentration, mitigated only by standard clean ERC-20 contract checks. No qualifying red-flag exploit or regulatory event was recorded.
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 Flayer (FLAY)
Flayer (FLAY) is a governance and utility token created in September 2024 following the merger of NFTX and FloorDAO. FLAY serves as the native token for Flayer Labs and powers Flaunch, a memecoin launchpad operating on the Base blockchain utilizing Uniswap V4 architecture. The token enables holders to participate in on-chain decentralized governance and includes a protocol mechanism for an unactivated fee switch designed to direct 10% of trading fees to token holders.
The token has a fixed maximum supply capped at 1 billion FLAY, with approximately 600 million tokens in circulation. Under its allocation model, 50% of the total supply was designated for legacy NFTX and FloorDAO token migrations, 30% was allocated to the protocol treasury, and 20% was assigned to project contributors subject to a vesting condition requiring a $75 million fully diluted valuation.
The project faces notable market and structural risks. FLAY has experienced a steep drawdown from its all-time high, accompanied by low market capitalization, near-zero trading volumes, and thin market liquidity across fewer than 1,000 holders. Additionally, the token has not completed formal smart contract security audits by third-party auditors and has no verified team KYC, with individual leadership remaining pseudonymous. On-chain metrics also indicate significant holder concentration, with major non-exchange wallets holding over 73% of the supply, although basic contract analysis confirms a standard 0% transfer tax, no blacklist functionality, and no additional mint functions.