MonaCoin
MONA
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
MonaCoin (MONA) is a legacy Proof-of-Work cryptocurrency launched in 2014 as Japan's first domestic cryptocurrency. While it features a clean, fair-launch tokenomics model with a hard supply cap of 105,120,000 and zero insider allocations, the project exhibits severe structural decline across all operational dimensions. Active development is in a maintenance-only posture with high bus-factor risk, limited to reactive upstream Bitcoin Core patch imports without third-party audits or modern CI/CD pipelines. Community engagement and governance are effectively dormant, with negligible transaction volume and liquidity across exchanges. Historical security issues include a May 2018 51% attack and the 2018 Monappy wallet exploit, and the asset has suffered a >99% unrecovered price drawdown from all-time highs. MonaCoin currently operates as an illiquid zombie asset with obsolete utility.
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 MonaCoin (MONA)
MonaCoin (MONA) is a peer-to-peer Proof-of-Work cryptocurrency launched on January 1, 2014, as Japan's first domestic cryptocurrency. Created as a hard fork of Litecoin utilizing the Lyra2RE(v2) hashing algorithm, the network was designed primarily for micro-tipping and localized payments. MonaCoin features a fair-launch tokenomics model with a hard-capped maximum supply of 105,120,000 MONA, no pre-mine or initial coin offering, and zero insider allocations.
The project operates without a formal foundation, corporate structure, decentralized autonomous organization (DAO), or on-chain governance system. Development is managed by anonymous and volunteer contributors in a maintenance-only posture. Engineering activity is largely restricted to reactive upstream security patch integrations from Bitcoin Core, lacking formal roadmaps, automated continuous integration testing, or regular feature development. As a result, the network exhibits reduced utility uptake and dormant community engagement.
MonaCoin has experienced significant historical security breaches and market decline. In May 2018, the network suffered a 51% consensus-layer block reorganization attack that resulted in approximately $90,000 in double-spending losses, followed by the 2018 Monappy web wallet exploit resulting in roughly $134,000 in losses. MonaCoin lacks formal third-party smart contract or codebase audits. Furthermore, the asset has experienced an unrecovered price drawdown of more than 99% from its historical all-time high, trading with low daily liquidity and volume.