Shido Network
SHIDO
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Shido Network (SHIDO) demonstrates active protocol development and on-chain governance execution, highlighted by mainnet upgrades such as the V2 Tera upgrade and DEX v3 audits by Zokyo. However, the project suffers from profound fundamental vulnerabilities across most key evaluation categories. Community activity is virtually non-existent, with negligible builder participation and absent public engagement. Economically, SHIDO exhibits poor tokenomics with unexplained discrepancies in total supply (100B in whitepaper vs 18B on DeFiLlama), near-zero protocol revenue ($81.75 in Q3 2026) making buyback and burn mechanisms ineffective, and an undisclosed vesting/allocation schedule. Market metrics reflect severe liquidity constraints with a low market cap ($2.2M-$2.46M) and thin trading volume ($30K-$168K daily). Security history includes a confirmed business-logic exploit on June 23, 2023, resulting in a loss of ~977 WBNB, alongside an anonymous team structure. The overall weighted score is calculated as 3.58/10 (Active Development: 1.20, Community Support: 0.30, Tokenomics: 0.50, Market and Use Case: 0.30, Team and Governance: 0.60, Security and Audit History: 0.675).
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 Shido Network (SHIDO)
Shido Network (SHIDO) is a Cosmos-based Layer 1 Proof of Stake (PoS) blockchain project founded in 2021 and headquartered in Stockholm, Sweden. The network provides decentralized infrastructure supporting decentralized finance (DeFi) utilities, including the ShidoDEX decentralized exchange, native wallet integrations, and cross-chain interaction via Inter-Blockchain Communication (IBC) on platforms such as Osmosis. On-chain stakeholder governance was implemented in June 2024, enabling token holders to participate in network upgrade decisions such as the V2 Tera mainnet upgrade.
The project's tokenomics model incorporates transactional reflection, buy-back, and burn mechanisms. However, the token structure features significant documented inconsistencies, including a discrepancy between the 100 billion total supply stated in the project's whitepaper and an 18 billion total and circulating supply reported by tracking platforms. Furthermore, the protocol exhibits near-zero generated revenue to support planned buybacks, thin exchange liquidity, and an absence of publicly verifiable vesting schedules or token allocation breakdowns.
Shido Network has experienced material security challenges during its operational history. On June 23, 2023, the protocol suffered a smart contract exploit stemming from a business logic vulnerability, resulting in the loss of approximately 977 WBNB. Following the incident, the project published a smart contract audit by Zokyo for ShidoDEX v3 in May 2024 and established a bug bounty program on HackenProof. Additional operational risks include limited public team accountability, low trading volumes, and negligible independent community and developer activity.