PirateCash
PIRATE
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
PIRATE (PirateCash) is a Dash Core-derived Layer-1 cryptocurrency founded in 2018 that combines proof-of-stake mechanisms and masternode governance. On the development side, the project maintains active codebase upgrades and version releases (such as Core 23.1.8 and v22.1.4), though development breadth is thin and contributor diversity is unverified. Community engagement shows verifiable on-chain DAO participation and governance voting, though cross-chain adoption is minimal and public social metrics were not retrievable. From a market and utility perspective, PirateCash is a micro-cap asset (market cap under $1.5M) with low liquidity, operating in an oversaturated alternative-cash payments niche and trading more than 90% below its all-time high. Governance is sustained through masternode voting, but leadership accountability is constrained by a fully pseudonymous team without disclosed credentials. The security profile is relatively clean with no reported exploits, regulatory enforcement actions, or hostile delistings, though code audits are limited to third-party reviews (TechRate) without a top-tier audit. Note that the Tokenomics section had insufficient data regarding comprehensive supply mechanics, allocations, and vesting schedules, and was excluded from the weighted score calculation. Overall, PirateCash represents a functional but highly speculative micro-cap project.
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 PirateCash (PIRATE)
PirateCash (PIRATE) is a peer-to-peer cryptocurrency and Layer-1 blockchain project founded in 2018 in Dnipro, Ukraine. Forked from Dash Core, the network operates using a combination of proof-of-stake consensus mechanisms and masternode architecture. It is designed primarily for alternative cash and payment use cases, with token implementations and smart-contract wrappers also existing across additional blockchains such as Ethereum.
Governance on the network is managed through an on-chain decentralized autonomous organization (DAO), where masternode operators vote on development proposals, liquidity allocations, and foundation funding requests. According to market data, PirateCash has a total supply of approximately 105 million PIRATE and a circulating supply of roughly 69.85 million tokens. While on-chain governance participation remains functional, cross-chain adoption is minimal, evidenced by very low holder counts on secondary networks like Ethereum.
PirateCash operates with several identifiable market and structural risks. The asset trades at a micro-cap valuation and has experienced a significant price drawdown of over 90% from its all-time high of approximately $0.242. In addition, the development team is entirely pseudonymous with no verified public identities or credentials, and codebase maintenance relies heavily on upstream Dash Core releases. Development tracking also reflects an internal transition in July 2024, when the project's original GitHub repository was archived and migrated to a new repository. While the project has received a third-party smart contract audit from TechRate, it lacks comprehensive audits from major specialized security firms.