fxhash
FXH
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
FXH (fxhash) is the governance and utility token supporting the fxhash generative-art NFT ecosystem across Tezos, Ethereum, and Base. The project maintains solid engineering fundamentals with an active development score of 6.5, supported by CI/CD pipelines, a public team, and a third-party smart contract audit from Runtime Verification in February 2025. Additionally, no protocol exploits, legal actions, or catastrophic security events were identified in the security analysis. However, the token suffers from severe market and community weaknesses. Market and Use Case (1.5) and Community Support (1.5) reflect extreme illiquidity (daily volume under $10, pool liquidity ~$1,759), a negligible on-chain holder footprint on Ethereum, and concentrated top-holder ownership. Tokenomics (5.0) remains hindered by an unreleased vesting schedule for the 48% non-circulating supply, while governance (4.5) is centralized. Overall, while the platform itself has recognizable utility, the FXH token is economically dormant with very high liquidity risk.
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 fxhash (FXH)
FXH is the utility and governance token for fxhash, an open platform dedicated to generative art NFTs. Originating within the Tezos ecosystem, the token is also deployed across Ethereum and Base. The platform and token are led by a public team, including founder Baptiste Crespy and COO Paul Schmidt, with institutional backing totaling between $5 million and $5.61 million. FXH is designed to serve as the functional currency of the ecosystem, facilitating platform fee settlements, generative art coin launches, and minting or re-rolling mechanics.
The token has a total supply of 1 billion tokens, with approximately 520 million in circulation. In October 2025, fxhash executed a tokenomics restructuring that paused the majority of token emissions and increased art coin trading fees to 10% to introduce deflationary pressure. A smart contract audit was conducted by Runtime Verification in February 2025, and no protocol exploits, hacks, or regulatory enforcement actions have been identified in the project's history.
Despite active site maintenance and technical development, FXH faces notable market and structural risks. The token exhibits severe illiquidity on decentralized markets, marked by daily trading volume in the single digits, liquidity pools under $2,000, and a recent decline to an all-time low. Additionally, ownership is heavily concentrated, with the top ten holders controlling 51.95% of the supply. Governance remains centralized under the core development team in the absence of an active DAO or on-chain voting mechanism, and there is no published vesting schedule or allocation breakdown for the approximately 48% non-circulating supply.