VNX
VNX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
VNX (VNX) presents a mixed profile characterized by reputable institutional backing and verified audit history, contrasted against severe data gaps, negligible community engagement, and centralized governance. Data gaps were encountered in Active Development and Market and Use Case due to pervasive name-collision across external sources, requiring both sections (representing 35% total weight) to be excluded and the remaining weights redistributed proportionally. On the positive side, VNX is led by an experienced, public team based in Liechtenstein with institutional support from entities such as the Luxembourg Ministry of Economy, Solana Foundation, and Ava Labs. Furthermore, the platform demonstrates a solid security posture with multiple published third-party audits (covering 2022-2024) and no recorded security incidents or exploits. However, the token suffers from practically nonexistent retail community activity and extremely low on-chain stablecoin adoption (fewer than 70 holders each for its euro and franc tokens). Tokenomics reflect a fixed 300M total supply with a 48-month development vest, but lack documented lockups for roughly two-thirds of project-controlled supply and depend heavily on emissions. 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 VNX (VNX)
VNX (VNX) is the native utility and governance token for VNX, a Liechtenstein-based platform established in 2018 that issues tokenized precious metals and fiat-pegged currencies. The platform has deployed assets across blockchain networks including Solana and Arbitrum One. VNX operates under a corporate structure with institutional backing from entities including the Luxembourg Ministry of Economy, the Solana Foundation, and Ava Labs.
The VNX token features a fixed total supply of 300 million tokens. The initial distribution allocates 50% to liquidity programs, 16% to the treasury, 15% to a points campaign, 15% to a development pool subject to a 48-month vesting schedule, 3% to a fair launch, and 1% to advisors. The token's design incorporates a veVNX-style governance and voting mechanism, though it lacks built-in fee-sharing or token burn structures.
The project exhibits several risks and operational limitations, notably low on-chain market adoption and liquidity. Its associated stablecoins have recorded very small user bases, with VNX Franc holding 68 addresses and VNX Euro holding 43 addresses with a market capitalization of roughly $19,830. In addition, decision-making remains centralized under corporate management rather than a functional decentralized governance structure. While VNX smart contracts underwent security reviews between 2022 and 2024, an assessment by Inference AG concluded with several open or partially resolved findings remaining at the time of publication.