Is Notional Finance a scam?

Asked about Notional Finance (NOTE), market cap rank #4215.

Short answer

Notional Finance (NOTE) has been scored on isthiscoinascam.com and has a moderate score — some risk signals were raised but no critical concerns.

Source: isthiscoinascam.com · Updated 2026-06-07

Red flags raised

  • Trading volume is near zero
  • Not listed on any high-trust exchange
  • A single wallet holds over 10% of supply
  • Top 10 wallets hold more than 50% of supply
  • Less than 50% of supply is circulating
  • Upgradable proxy
  • Very low on-chain liquidity

Positive signals

  • Strong backing from reputable investors like Coinbase Ventures and Pantera Capital.
  • High-quality whitepaper detailing the protocol's mechanics and security measures.
  • Active community engagement with a substantial following on Twitter and GitHub.
  • Prompt response to identified vulnerabilities, demonstrating commitment to security.

Security audits

2 audits on record.

  • CertiK (2021-07-01) — pass
  • Cyberscope (2021-07-01) — pass

Team transparency

The Notional Finance team is doxxed — public identities are known.

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