Due Diligence Checklist for Kaspa Apps and Dapps
For individuals considering an untested project or token. A simple, DIY filter anyone in the community can use before putting in their $KAS.
Rug Pull Red Flags
- Anonymous Team with No Track Record
- High Token Allocation to Developers or Treasury (30%+)
- No Lock-up or Vesting Periods
- No Working Product or Demo
- Fake Partnerships or Endorsements
- Unverified Smart Contracts
- “Too Good to Be True” Promises
- Sudden Hype, No History
Basic Research
Project Website
- Does it exist?
- Is it professional, informative, and transparent?
Whitepaper or Litepaper
- Is there one?
- Does it clearly state the problem, solution, and token utility?
Team Information
- Are team members named and verifiable?
- LinkedIn, GitHub, past projects?
GitHub or Code Repository
- Is it public?
- Has there been recent activity?
Social Presence
- Are their Telegram, X, Discord, etc. active?
- Are followers real or botted?
Tokenomics
- Is there a clear breakdown of supply, emissions, and allocation?
- Any red flags in vesting or wallet control?
Kaspa Ecosystem Project Filter (WatchDAG Service) K-Guard? 🙂
A broader framework used by the Kaspa community to vet, monitor, and classify emerging projects.
Project Audit Framework (DIY, Transparent)
1. Identity & Transparency
- Team Doxxed or Anonymous?
- Country or jurisdiction of founding
- Background check summary (crowd-sourced research)
- Known affiliations or community endorsements
2. Technical Audit Lite
- GitHub repo reviewed
- Presence of tests, readme, docs
- Flag whether contracts are open-source
- Simple checklist:
- Any owner functions?
- Can liquidity be withdrawn?
- Mint or burn functions?
- Is the contract upgradeable?
3. Tokenomics Assessment
- Total supply and issuance rate
- Team and early investor allocations
- Liquidity lock period
- Emission schedule (fixed or inflationary)
- Burn or redistribution mechanics
4. Use Case / Real Utility
- Is the project solving a real problem?
- Is Kaspa DLT actually necessary for this?
- Who are the target users?
5. Community & Support
- Real engagement vs. bot accounts
- Public roadmap and dev logs
- Issue responses and bug reports
- Community transparency: weekly updates, AMAs, etc.
- Track Record & Delivery
- Past milestones met or missed
- Working demo or MVP?
- Are devs building or just posting memes?
7. Security
- Liquidity lock verified?
- Multisig wallet used for treasury?
- Admin key disclosure?
- Contract interaction limits and permissions?
If anyone wants to build something like a Trust Score for Apps, here’s some ideas
Suggested Outputs of the “WatchDAG” Service:
- Scoring System: Red/Yellow/Green light status
- Community Comments Section (like product reviews)
- Flag System for contract risks and key wallet movements
- RSS feed or X posts for warnings and project updates
- Add spots for source references
- Form a Review Crew of Devs, technicians, researchers to offer their own rating