Polkaswap
PSWAP
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Polkaswap (PSWAP) is the native utility and governance token for the Polkaswap cross-chain DEX on the SORA network, built by the credible blockchain development firm SORAMITSU under Makoto Takemiya. The tokenomics feature a deflationary buyback-and-burn mechanism linked to trading volume alongside liquidity rewards. However, the project faces severe structural and market headwinds: trading activity is negligible (daily volume under $100 to a few thousand dollars), market cap has experienced a near-100% drawdown from its all-time high, community governance is largely dormant with high whale concentration, and development displays heavy dependency on a single contributor without recent independent audit verification. No hacks, exploits, or regulatory actions were identified, but the lack of liquidity and user adoption presents extreme 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 Polkaswap (PSWAP)
Polkaswap (PSWAP) is the native utility and governance token for Polkaswap, a decentralized exchange built on the SORA network. Developed by the blockchain technology firm SORAMITSU under co-founder Makoto Takemiya, Polkaswap integrates an automated market maker (AMM) swap engine, an on-chain order book, and cross-chain bridging infrastructure. The platform also maintains an ERC-20 contract representation on Ethereum.
The tokenomics of PSWAP include a maximum supply capped at 10 billion tokens. The distribution structure allocates 35% to liquidity rewards, 30% to initial development, 25% to token bonding curve rewards, approximately 6% to launch rewards, and roughly 4% to market-making rewards. Polkaswap incorporates a deflationary economic model funded by a 0.3% fee on trades, which is utilized to buy back and burn PSWAP tokens, while new tokens are reminted for liquidity providers at decaying rates over four to five years.
Despite ongoing software maintenance, Polkaswap faces notable market and structural challenges. The token has experienced a severe price decline, falling approximately 100% from its all-time high of $0.88, accompanied by minimal daily trading activity and low liquidity. Furthermore, no published smart contract audit reports are available for the protocol, governance remains largely inactive with heavy whale concentration, and development exhibits a narrow single-contributor dependency alongside centralized reliance on SORAMITSU and SORA network administration.