BUSD BUSD

Ethereum EcosystemStablecoinsUSD StablecoinFiat-backed Stablecoin

BUSD leads with team governance and economic models, with roadmap delivery remaining the main focus and currently holding an E rating.

Rating updated 2026-08-03
E11 / 100

Sector Rank #1320 · Global Rank #2264

Roadmap Delivery0F
Technical Implementation----
Tokenomics20.55F
Team Governance50.8E-
Market Ecosystem1.34F
Security & Compliance0F
01

Overall Rating

E · 11 / 100
Roadmap Delivery
0
Tokenomics
20.55
Team Governance
50.8
Market Ecosystem
1.34
Security & Compliance
0
Overall Score
11

BUSD overall rating E (out of 11), ranking high in team governance, economic model, and market ecosystem across six dimensions. The main point of deduction is roadmap delivery (0 points)—mainly affected by sub-items such as development continuity (0 points) and development heat trends (0 points).

Rating Team Conclusion: "BUSD has relative advantages in team governance, economic model, and market ecosystem, but its current shortcomings are concentrated in roadmap delivery." " It is recommended to observe cautiously and not use it as a core configuration basis for now.

02

Six-Dimension Rating Breakdown

Roadmap Delivery

0/100

Roadmap On Time Delivery Rate?The project has stopped new releases, with no active roadmap or development plans.Weight 35%No active roadmap · 0 / 100

Last 4 upgrades achieved?The project has stopped issuing new projects and has had no major upgrades in the past year.Weight 30%&None · 0 / 100

Milestones to Deliver?The project has stopped new issuances and is not yet awaiting delivery milestones.Weight 20%&None · 0 / 100

History Extension Record?The project has stopped new issuances, and historical delay records do not apply.Weight 15%Not applicable · 0 / 100

Technical Implementation

59.5/100

Consensus Mechanism?As an ERC-20 token, its security relies on Ethereum's PoS consensus mechanism.Weight 30%PoS (Ethereum) · 90 / 100

Main network years of operation?BUSD was launched in 2019, had a longer runtime, but its issuance has since been discontinued.Weight 15%About 7 years (since 2019) · 80 / 100

Recent upgrades?The project has stopped new issuances and has not undergone any substantive agreement upgrades in the past year.Weight 35%No substantial upgrades · 10 / 100

Client Diversity?As an ERC-20 token, its client diversity depends on the Ethereum ecosystem.Weight 20%Depends on Ethereum clients · 85 / 100

Tokenomics

44/100

Deflationary Mechanism?There is a burn mechanism to maintain peging, but new issuance has been stopped.Weight 30%Burn Mechanism (New Issuance Discontinued) · 30 / 100

Inflation rate?Paxos has stopped issuing new BUSD with an inflation rate of 0%.Weight 25%0% (new issuance has stopped) · 100 / 100

Staking rate/position lock-up rate?As a stablecoin, it does not offer staking or lock-up mechanisms.Weight 25%Not applicable · 0 / 100

Supply Upper Limit?Supply is determined by US dollar reserves and is currently in a reduced state.Weight 20%No rigid upper limit (determined by reserves) · 50 / 100

Team Governance

43/100

Core Development Team?Published by Paxos, but development of the BUSD project has been halted.Weight 30%Paxos (Development Ended) · 30 / 100

Governance mechanisms?The governance mechanism is highly centralized, led by Paxos, with no community governance.Weight 25%Centralization (Paxos) · 40 / 100

Financial Transparency?Paxos regularly publishes reserve audit reports, offering high transparency.Weight 25%Regular audits of reserve funds · 80 / 100

Concentration of key people?The project heavily relies on Paxos, with a high concentration of key players.Weight 20%Paxos · 20 / 100

Market Ecosystem

7.75/100

Active Address?As the project stopped issuing, the number of active addresses was extremely low and continued to decline.Weight 30%Extremely low and continuously declining · 5 / 100

Ecological chain/L2 quantity?It was once widely integrated across multiple chains but is now gradually exiting the ecosystem.Weight 25%Once widely supported, it is gradually withdrawing · 20 / 100

DeFi TVL?With projects halting issuance, DeFi TVL remains extremely low and continues to decline.Weight 25%Extremely low and continuously declining · 5 / 100

Developer community?The project has stopped new releases, and the developer community is inactive.Weight 20%Inactive · 0 / 100

Security & Compliance

16/100

Historical Major Failure?There are risks of agency contract and permission leakage, posing significant security risks.Weight 25%There is a potential backdoor code · 10 / 100

Regulatory Attitude?NYDFS has ordered Paxos to stop issuing BUSD, but regulatory attitudes have been unfriendly.Weight 30%Unfriendly (NYDFS Suspension Order) · 5 / 100

Sec Attitude?The SEC issued a Wells Notice to Paxos, stating that BUSD may be an unregistered security.Weight 30%Controversy (Wells Notice) · 5 / 100

Client Bug Frequency?The BUSD contract has a low bug frequency but has ceased development.Weight 15%Low (contract level) · 70 / 100

04

E Peer Comparison

Export CSV
BUSDE · 11FAYAE · 13.3PolkaswapE · 13.3GaleonE · 13.28
Overall Score1113.313.313.28
Roadmap Delivery037.5037.5
Technical Implementation--------
Tokenomics20.55024.750.9
Team Governance50.83049.642.4
Market Ecosystem1.3417.528.29.85
Security & Compliance0000

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