88mph
MPH
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
88mph (MPH) is an early-vintage (2020) fixed-rate yield DeFi protocol that has entered functional dormancy with an overall weighted score of 2.35/10. The project demonstrates virtually no active development since 2022, effectively zero trading liquidity (daily volume under $20 and market cap under $10K), and near-total community attrition. While the protocol established a reputable historical audit footprint with Trail of Bits and PeckShield alongside identifiable core contributors, past smart contract vulnerabilities and a price decline exceeding 99% from all-time highs reflect severe structural deterioration. No qualifying recent red-flag events requiring an artificial cap were triggered, but baseline evaluation across all core dimensions signals protocol abandonment.
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 88mph (MPH)
88mph (MPH) is a decentralized finance protocol deployed on Ethereum that offers fixed-interest rate yields and variable-rate money market products. Founded in 2020 by a development team operating through baconlabs.dev, including Guillaume Palayer (McFly) and Zefram Lou, the protocol allows users to lock crypto assets to secure upfront, fixed-rate yields while routing capital through third-party yield-generating platforms. The native MPH token functions as a governance and reward asset, featuring a maximum supply cap of 1,888,888 established via governance in December 2021. MPH utilities historically included staking for xMPH, providing liquidity in Balancer pools to receive veMPH and protocol fees, and acting as collateral across decentralized lending markets.
The protocol's security history includes several notable technical incidents alongside formal audits conducted by firms such as Trail of Bits and PeckShield. A historical exploit occurred when an attacker targeted a business logic error in the protocol's core DInterest smart contract, resulting in the unauthorized minting of MPH tokens. In June 2021, a critical near-miss vulnerability involving an unprotected initialization function in certain liquidity pools exposed approximately $6.5 million in user funds; the vulnerability was mitigated by a whitehat rescue with no loss of user assets, resulting in a $42,069 bug bounty payout.
88mph has since experienced severe operational and market declines, leading to functional dormancy. The MPH token has suffered an unrecovered price collapse exceeding 99.99% from its all-time high, leaving the project with minimal market capitalization and negligible daily trading volume. Furthermore, the protocol demonstrates an absence of active software updates or GitHub releases since 2022, alongside an attrition of community and governance participation.