Loan Protocol
LOAN
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Loan Protocol (LOAN) exhibits significant evaluation challenges due to substantial data gaps across multiple areas. Active Development, Community Support, and Security and Audit History all suffered from identity verification failures or zero retrieved records, resulting in -1.0 scores that were excluded from the weighted score calculation. Among evaluated dimensions, Team and Governance scored 5.5/10, backed by corporate developer Metallicus and active on-chain voting, though specific leadership credentials and independent DAO structures remain unverified. Tokenomics scored 4.0/10 due to circular, incentive-dependent emissions and unverified supply schedules despite clear utility in staking and governance. Market and Use Case scored 3.0/10, reflecting minimal market traction ($7M-$9M market cap, ~$115k-$150k daily volume), significant dilution overhang (18B circulating vs 36B total supply), and intense competition within DeFi lending. No qualifying red-flag exploits or fraud were affirmatively established, but pervasive data gaps and poor liquidity indicate high structural 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 Loan Protocol (LOAN)
Loan Protocol (LOAN), originally associated with the Proton ecosystem and rebranded under the Loan Protocol name, is a decentralized lending and borrowing protocol developed by Metallicus. The protocol enables users to supply and borrow digital assets, with the native LOAN token functioning as an incentive reward for suppliers, an asset for staking, and a tool for participating in on-chain governance votes.
The LOAN token serves three primary functions within the protocol: staking, governance voting power boosts, and liquidity supplier rewards. The token features a circulating supply of approximately 18 billion tokens against a total supply of 36 billion tokens. Its tokenomic model relies on circular inflationary emissions to incentivize participation, without documented fee-sharing, buyback, or token burn mechanisms.
Evaluation of the project reveals several structural and operational risks. Governance and development remain concentrated under the corporate entity Metallicus, without verified independent DAO structures or timelock implementations. Furthermore, retrieved project data lacks documented third-party security audits, detailed development metrics, or active community records, while the token experiences low trading liquidity and potential dilution overhang from uncirculated supply.