MonaCoin
MONA #1408Project Safety Score: 36%
Updated 4 hours, 51 minutes agoRecord
Health
Security
Behavioral
& Liquidity
MonaCoin is an open source digital currency and peer-to-peer payment network, recognized as Japan's first cryptocurrency. It was conceived in December 2013 and officially launched on January 1, 2014, with no premine. The project was initiated by an anonymous founder known as Mr. Wantanabe, and its development team remains largely unidentified. MonaCoin is a hard fork of Litecoin and has undergone updates, including a soft fork to implement Segwit and the adoption of the Lightning Network to enhance its functionalities.
Utilizing the Lyra2REv2 and Dark Gravity Wave v3 algorithms, MonaCoin aims to provide equitable mining opportunities. The cryptocurrency has gained traction in Japan, where it is primarily used, but it does not pursue global expansion. The project does not have a publicly available roadmap, although it continues to release updates to improve its services. Its notable use case includes a reported transaction in which a Japanese citizen used Monacoin to purchase land.
Risk Report
Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.
Track record score 67 out of 100. The project has been live for 12.4 years and shows a clean regulatory record with 0 regulatory actions. Incident-wise, there are 2 historical incidents on record (incident cleanliness score 60). Research also flagged 4 additional concern(s) raised by research (agent red flags 5), which helps explain why this bucket is not higher despite strong longevity.
Developer health score 20 out of 100. Public development activity looks weak: there are 0 commits in the last 4 weeks (flag: norecentcommits). While GitHub shows 330 stars and 97 forks, the commit cadence is currently inactive, and there are 14 PR contributors. Overall, this indicates limited recent engineering momentum, which can increase execution risk for an L1 protocol.
Network security score 47 out of 100. The chain is 12.4 years old, and 100% of the total supply is circulating. However, economic security is rated 0 given a market cap of $9,838,034, and there are 2 historical incidents (incident history score 50). There is also no hard supply cap (supply cap defined score 50), which can allow ongoing inflation risk (consistent with the nosupplycap flag). Multiple-chain incidents were flagged as well.
Social/behavioral score 51 out of 100. Social audience coverage is present via linked accounts (TW, TG, RD all linked), but detailed influencer signal data was not available in the snapshot. Agent risk signals show 0 allegations, 2 bad press items, 0 regulatory findings, and 2 incidents tied to the risk signal set. With these factors, the score sits near the middle—neither clearly benign nor strongly problematic based on the provided research inputs.
Adoption and liquidity score 12 out of 100. Trading and market depth appear limited. The 24h volume is listed as $10,010 with daily volume flagged as very low, and the asset also has a market-cap tier score of 0 (market cap $9,838,034). Exchange listings data shows 5 CEX listings (with 1 green-trust), but the overall volume and liquidity conditions keep this bucket weak.
Inherent crypto risk (MonaCoin / L1 protocol). Even with long existence and full circulation, the combination of low economic security, no hard supply cap, multiple-chain incident flags, and very low recent developer activity increases uncertainty around long-term resilience. Liquidity being thin can also amplify volatility and make it harder to exit positions without impact, so the overall risk profile remains elevated for this specific asset.
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ITmedia NEWS · 2018-05-18
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Crypto Watch · 2018-11-23
- ✓First Japanese cryptocurrency
- ✓Accepted by real shops in Japan
- ✓Established in 2014
- ✓No pre-mining
- ✓Never suffered from a hacking incident
- ✗Low economic security
- ✗Multiple chain incidents on record
- ✗No recent code commits
- ✗No hard cap on total token supply
- ✗Very low L1 trading volume
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