IoTeX
IOTX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
IoTeX (IOTX) demonstrates robust active development (8.0/10) with consistent Layer-1 releases, EVM upgrade milestones (v2.4.0 with Pectra support), and formal IIP governance. Tokenomics (7.0/10) are solid with a fixed 10B hard cap and burn-drop mechanisms, balanced against near-term staking inflation. However, the project faces notable headwinds in community engagement (4.5/10), which remains core-team dominated, and market performance (4.5/10), marked by steep drawdowns and low liquidity.
Team and Governance (5.5/10) and Security and Audit History (4.0/10) reflect the impact of a major operational security breach on February 21, 2026, wherein IoTeX's ioTube cross-chain bridge was compromised due to a validator private key leak. The Security section affirmatively establishes this qualifying red-flag event: "The attacker drained approximately $4.3–4.4M in tokens directly from the vault and minted 410M CIOTX tokens; independent estimates put total losses as high as $8.8M, though IoTeX estimated ~$2M initially and ~$4.3–4.4M after revision." Although IoTeX acted quickly to contain and freeze funds, commit to restitution, and initiate audits, the incident triggered an active DAXA Investment Warning.
While the mathematical weighted average across all six complete sections is 5.78 (Development: 1.60, Community: 0.68, Tokenomics: 1.40, Market: 0.68, Team: 0.83, Security: 0.60), the overall score is capped at 5.0 pursuant to the Red-Flag and Section Score Cap rules.
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 IoTeX (IOTX)
IoTeX (IOTX) is a Layer-1 blockchain established in 2017 with a mainnet launched in April 2019, designed to support Internet of Things (IoT), artificial intelligence (AI), and Decentralized Physical Infrastructure Networks (DePIN). The protocol features EVM support—including the IIP-60 Pectra EVM upgrade—and is governed through on-chain IoTeX Improvement Proposals (IIPs), a Delegates Program, and the MachineFi DAO.
The IOTX token operates with a fixed genesis hard cap of 10 billion tokens. Its primary utilities include paying network transaction fees, serving as validator collateral, participating in governance voting, and facilitating Stake-to-Service mechanisms. The token supply dynamics combine deflationary mechanics, such as the Burn-Drop program that has burned approximately 400 million IOTX, with tapering staking rewards distributing around 200 million IOTX annually until their projected phaseout by 2030.
On February 21, 2026, the project suffered a major operational security incident when its ioTube cross-chain bridge was exploited due to a compromised validator private key on Ethereum. The attacker extracted an estimated $4.3 million to $4.4 million directly from bridge vault contracts (with external estimates citing up to $8.8 million in total impact) and minted 410 million unauthorized CIOTX tokens. While IoTeX froze over 86% of the unauthorized tokens and pledged full user restitution, South Korea's Digital Asset Exchange Association (DAXA) subsequently issued an Investment Warning for IOTX. The project has also faced market pressures, including an 81.72% price decline over a one-year period and a pending trading suspension on Coinbase scheduled for September 2026.