X2Y2
X2Y2
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
X2Y2 is the governance and utility token of a former decentralized NFT marketplace on Ethereum. The overall assessment reflects an effectively defunct and deprecated project following the official shutdown of its core marketplace platform on April 30, 2025 ('due to intense competition and a significant decline in NFT trading volumes, the project officially shut down its marketplace on April 30, 2025'). Data Gap Handling: The Active Development section scored -1.0 due to a total lack of ongoing development activity and operational API endpoints, so its 20% weighting was redistributed proportionally across the remaining five sections. Tokenomics (3.5/10) suffered from heavy inflationary emissions historically tied to staking without robust value-accrual mechanisms, and with the marketplace closed, token utility is entirely non-functional. Community Support (1.0/10) and Market/Use Case (1.0/10) reflect inactive governance, negligible trading volume, and asset deprecation. Team and Governance (2.5/10) notes an anonymous team and absence of a decentralized DAO structure. While Security and Audit History (4.0/10) reports a clean historical record with no hacks, exploits, or regulatory actions and a verified SECBIT audit, the token suffered a >99% unrecovered price collapse. Because the marketplace is permanently shut down and the token is designated as a deprecated asset without an operative use case, the investment recommendation is Avoid.
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 X2Y2 (X2Y2)
X2Y2 (X2Y2) is a deprecated token associated with a former decentralized non-fungible token (NFT) marketplace on Ethereum that officially shut down on April 30, 2025. Launched in early 2022 as a fork of LooksRare, the platform was designed as an NFT trading venue featuring a 0.5% marketplace fee and a mechanism that distributed 100% of generated platform fees to token stakers. During its operational peak, the platform accumulated over $5.6 billion in cumulative trading volume.
The X2Y2 token was structured with a fixed total supply of 1 billion units, with 65% of the supply allocated to staking emissions and approximately 21.5% allocated to the development team and insiders under a vesting schedule. The primary utility of the token was restricted to staking for fee share rewards. Following the closure of the marketplace and the deactivation of its developer APIs and SDKs, the token lost its underlying functional utility.
Faced with severe drops in NFT market volume and intense sector competition, the platform officially terminated operations, causing the token to suffer an unrecovered price crash of over 99% to an all-time low and rendering the project effectively dormant. While historical smart contract audits by SECBIT Labs in February 2022 confirmed code implementation without major protocol exploits, audits noted centralization risks related to single-signer administrative privileges alongside an entirely anonymous team structure without an on-chain decentralized autonomous organization (DAO).