• Hacken’s Belief Military reviewed the tokenomics of 100 Web3 initiatives.
• Belief Military recognized three foremost teams of initiatives primarily based on token distribution transparency.
• The report exhibits that 16.5% of the initiatives conceal their whitepaper, 34% disguise their tokenomics, and solely 50% have handed an audit.

Belief Military, a Web3 analysis and academic platform by Hacken, has reviewed the tokenomics of the primary 100 EVM-compatible initiatives in its first Beta model. Insights from the report present that the platform was in a position to determine three foremost teams primarily based on how they share details about their token distribution.

The primary group of initiatives is people who brazenly share knowledge on their token distribution, regardless of any flaws. The second group consists of people who conceal the supply of their token issuance, both deliberately or unintentionally. The third group contains people who show their token distribution in a complicated method.

Belief Military has discovered that out of 100 Web3 verified initiatives, 16.5% conceal their whitepaper, 34% disguise their tokenomics, and solely 50% have handed a sensible contract audit. Moreover, 33% of initiatives’ token holders have 1% or extra of the whole token provide of their wallets, whereas 39% of initiatives have 1-3 token holders with greater than 10% of the token provide of their wallets.

The report, nevertheless, famous that the acquired knowledge is an interim evaluation and shall be complemented with the stories from the remaining initiatives within the beta model. The platform advises customers to test third-party websites resembling Wayback Machine and GitHub to uncover info on token issuances and distribution, even when tokenomics are hid.

The Belief Military group states that they goal to assist construct a clear Web3 by enabling anybody to accumulate Web3 analysis expertise and crypto DYOR via its Belief Military initiative. The undertaking has rolled out a transparent roadmap for the way forward for HAI and the Hacken.AI ecosystem. This contains quite a lot of merchandise that help in establishing belief in Web3, resembling Belief Military, in addition to the conversion of HAI right into a Work-2-Earn, governance, and product-utility token.