Steem
STEEM
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
STEEM is the native token of the Steem blockchain, a legacy delegated proof-of-stake (DPoS) social content platform launched in 2016. The project faces severe long-term headwinds across multiple operational dimensions. Core protocol development has been effectively frozen since version 0.23.0 in 2019, with recent engineering restricted to minor SDK maintenance in 2025. Tokenomics feature an ongoing inflation schedule without a hard cap, coupled with declining endogenous demand. Governance and team integrity suffered significantly following the controversial 2020 acquisition by Justin Sun that prompted a major community fork (Hive), and current leadership activity remains opaque. Furthermore, market performance exhibits a >99% drawdown from its all-time high alongside shrinking exchange access, and security practices reflect an absence of third-party protocol audits and poor web security hygiene. Community Support lacked sufficient project-specific data to be scored (-1.0) and was excluded from the weighted score calculation. Overall, while the network remains operational, its weak competitive standing and lack of protocol momentum present significant risks.
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 Steem (STEEM)
STEEM is the native cryptocurrency of the Steem blockchain, a Delegated Proof-of-Stake (DPoS) network launched in 2016 by Daniel Larimer and Ned Scott. Built specifically for content monetization and social media interactions, the blockchain powers decentralized publishing platforms such as Steemit. Its economic model operates on a fee-less transaction structure using a multi-token system comprising STEEM, Steem Dollars, and Steem Power to facilitate transaction throughput, content curation, and stake-weighted governance. In addition to its native ledger, an ERC-20 representation of STEEM exists on Ethereum.
The tokenomics of STEEM feature an ongoing inflation schedule without a fixed supply cap. The annual inflation rate was designed to start at 9.5% and decrease by 0.01% every 250,000 blocks down to a 0.95% floor. Protocol-level development has remained largely stagnant, with core updates frozen since version 0.23.0 in 2019. Active engineering efforts are primarily restricted to maintenance-level SDK modernization, such as the release of updated JavaScript libraries and ongoing development of a Golang SDK in 2025.
The project has experienced notable governance issues, security incidents, and market contractions throughout its history. In July 2016, a security breach compromised approximately 260 user accounts, resulting in the theft of roughly $85,000 worth of STEEM and Steem Dollars, followed by a DDoS attack. In 2020, the acquisition of Steemit Inc. by Justin Sun sparked a severe on-chain governance conflict, prompting a substantial portion of the community and developer base to hard fork the network into an independent blockchain, Hive. STEEM also lacks third-party core protocol security audits, has faced reduced liquidity via exchange removals including Binance spot pairs and CoinEx, and has experienced a sustained price drawdown exceeding 99% from its all-time high of $8.57.