Magic Square
SQR
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Magic Square (SQR) is an app-store and rewards ecosystem built on the BNB Smart Chain. The project benefits from a verified public leadership team (led by CEO Andrey Nayman and backed by Binance Labs), active DAO governance on Snapshot Labs, and an audited token contract by CertiK with a Skynet security rating of 85.87 and no documented protocol exploits or legal actions. However, the ecosystem faces severe headwinds: the market capitalization has collapsed by over 99.9% to roughly $70.99K with negligible trading volume, token utility is heavily subsidized by reward emissions rather than organic demand, and audit coverage spans only 2.39% of the total codebase. Note that Community Support had insufficient data to generate a score and was excluded from the weighted average, with its weight redistributed across the remaining five sections. No qualifying red-flag events were established.
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 Magic Square (SQR)
Magic Square (SQR) is a Web3 app store and decentralized application (dApp) discovery platform operating on the BNB Smart Chain. The project is led by a public executive team, including CEO Andrey Nayman and CMO Benjamin Vodovozov, and was backed by investors including Binance Labs, raising approximately $10.06 million across private funding rounds and token sales. SQR functions as the platform's native utility token with a fixed maximum supply of 1.00 billion tokens, designed for staking programs, user reward incentives, campaign payment conversions, and buyback-and-burn mechanisms.
Governance is conducted off-chain through the Magic DAO, launched in November 2024 via Snapshot Labs, allowing token holders to participate in token-weighted voting on ecosystem proposals, such as the approved burn of 50 million SQR from team and advisor allocations. From a security perspective, the SQR token contract underwent a formal audit by CertiK in October 2023, which resolved a flagged major centralization issue; however, audited code coverage was limited to approximately 2.39% of the broader codebase.
Despite ongoing feature releases, Magic Square has experienced a severe market decline, with the token suffering a price drawdown of over 99.9% from its peak, reducing its market capitalization to tens of thousands of dollars alongside negligible trading volume. Additional risk factors identified include token demand that remains heavily subsidized by reward emissions rather than organic platform adoption, an uneven product release cadence, and an insider token allocation structure comprising 20% for the team and 5% for advisors.