JPEG'd (OLD)
JPEG
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
The evaluated smart contract corresponds to the original, legacy JPEG token of the JPEG'd protocol, which has been officially deprecated following a DAO-approved migration to the JPGD governance token in early 2024. Active Development and Community Support sections were excluded from scoring (-1.0) due to data gaps resulting from the deprecation and abandonment of the old contract in favor of JPGD. The legacy token retains no protocol utility, voting power, or active development. Furthermore, the protocol suffered an $11.46M Curve Vyper pool exploit in July 2023 (subsequently mostly recovered via whitehat bounty), and the DAO subsequently voted to wind down protocol operations. Because this contract is deprecated and superseded, holders should not acquire the legacy asset.
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 JPEG'd (OLD) (JPEG)
JPEG'd (OLD) (JPEG) is a deprecated governance token on the Ethereum blockchain that was replaced by the JPGD token following a DAO migration in March 2024. Originally deployed as the native asset for the JPEG'd protocol, the token was designed to provide governance rights over an NFT lending platform. JPEG'd operated a peer-to-protocol collateralized debt position (CDP) model, enabling users to deposit blue-chip non-fungible tokens (NFTs) as collateral to mint synthetic assets such as PUSd and pETH.
The legacy JPEG token had a fixed total supply of 69,420,000,000, distributed across the DAO Treasury (35%), Main Sale (30%), Core Team (30%), and Advisors (5%), with vesting concluding by July 2024. Following the DAO migration to the new JPGD contract, the legacy JPEG token was stripped of all governance voting power, collateral utility, protocol incentives, and active development. Due to market contractions and diminished collateral activity, the JPEG'd DAO subsequently passed governance proposals, including PIP-46 and PIP-96, to decommission debt ceilings, liquidate treasury assets, and wind down protocol operations entirely.
On July 30, 2023, the protocol's pETH/ETH Curve liquidity pool suffered an exploit due to a 0-day reentrancy compiler vulnerability in specific versions of Vyper. The breach resulted in a gross drain of 6,106.65 WETH (approximately $11.46 million to $11.6 million) and caused a temporary depeg of the derivative pETH asset. Following a white-hat negotiation, 5,495 ETH (approximately $10.0 million) was returned to the DAO multisig wallet, resulting in a net loss of 610.6 ETH (approximately $1.1 million) paid as a bounty. Following the exploit, market downturns, and the subsequent contract deprecation, the token suffered a drawdown of over 99% from its early 2022 all-time high of approximately $0.0072.