Wanchain
WAN
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Wanchain (WAN) is an established cross-chain interoperability infrastructure protocol operating since 2017 with public leadership and a fixed token supply (~95% circulating). However, the project faces severe headwinds across several dimensions. Most critically, Wanchain suffered a major security breach on its core infrastructure: "Wanchain's Cardano–BNB bridge was exploited around 21 July 2026 via a signature-reuse cryptographic flaw that allowed an attacker to authorize fake withdrawals, draining roughly 515 million NIGHT tokens worth ~$9 million (per AMBCrypto via Pluang)." This qualifying red-flag event occurred recently and remains unaddressed in retrieved records without evidence of user compensation. Compounding this, Wanchain suffers from low liquidity, a depressed market cap (~$11M), thin community engagement metrics, and centralized corporate governance under Wanchain LTD. The calculated weighted average across all six complete sections is 4.9/10, which remains below the 5.0 red-flag cap.
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 Wanchain (WAN)
Wanchain (WAN) is a cross-chain interoperability and Layer-1 infrastructure protocol launched in 2017. Developed to enable value transfers across independent blockchain networks, Wanchain deploys decentralized bridge architecture across multiple chains, including integrations such as its Cardano–BNB and VeChain bridges. The project is managed by Wanchain LTD and underwent a leadership transition in 2024 when Temujin Louie succeeded founder Jack Lu as CEO.
The native token, WAN, has a fixed maximum supply of 210 million tokens, with approximately 95% of the total supply in circulation. The network utilizes WAN for staking (xWAN), network utility, and governance. It also employs a "Convert n' Burn" model that directs 10% of bridge operational fees toward token burns, though the scale of burns remains modest relative to staking emissions.
Wanchain has faced notable security and market challenges. In July 2026, Wanchain's Cardano–BNB bridge was compromised through a signature-reuse cryptographic vulnerability, enabling an attacker to drain approximately $9 million worth of NIGHT tokens (reported between 290 million and 515 million tokens across sources). In the market, WAN has experienced a drawdown of approximately 99.4% from its 2018 all-time high, maintaining a low market capitalization and thin trading volume. Additionally, governance remains centralized under its corporate entity without an active decentralized autonomous organization (DAO) or verifiable on-chain voting framework for token holders.