Wrapped DAG
WDAG
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WDAG (Wrapped DAG) is an ERC-20 wrapped representation of Constellation Network's native DAG token on Ethereum and Base. The project suffers from significant data gaps: both Active Development and Security & Audit History could not be scored due to insufficient specific data and false-positive search results. Among the evaluable areas, WDAG exhibits weak fundamentals across the board. Community engagement and on-chain adoption are minimal, with only 371 Ethereum holders and negligible organic activity. Market utility is strictly derivative, with severe structural liquidity constraints evidenced by daily trading volumes as low as $66 to $5,450 against a $24M+ market cap, alongside a ~91.8% drawdown from all-time highs. Furthermore, governance and bridge operations remain centralized without publicly documented audit reports or on-chain governance mechanisms. With significant data limitations and extreme illiquidity, the token presents elevated risk.
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 Wrapped DAG (WDAG)
Wrapped DAG (WDAG) is an ERC-20 token representing Constellation Network's native asset, DAG, on the Ethereum and Base blockchains. Initiated as a community-led project supported by an ecosystem grant from Constellation Network, WDAG was created to enable cross-network compatibility and allow DAG holders to interact with decentralized finance (DeFi) applications within the Ethereum and Base ecosystems.
At the token level, WDAG operates with a fully circulating supply of approximately 3.7 billion tokens, which mirrors underlying assets without introducing additional wrapper-level vesting or dilution schedules. However, on-chain adoption remains limited. On Ethereum, the token maintains a small footprint with roughly 371 holders and around 8,460 recorded transactions, reflecting minimal organic community engagement and limited integration into broader DeFi protocols.
The project faces notable structural and governance risks. WDAG experiences severe liquidity constraints, with daily trading volumes ranging between $66 and $5,450 against reported market capitalizations of over $24 million. In addition, the token has experienced a significant price drawdown, trading approximately 91.8% below its all-time high. Governance and bridge management remain centralized under the control of bridge operators without on-chain voting mechanisms or publicly accessible security audit reports.