Proof of Usefulness Report

123swap

Analysis completed on 1/2/2026

+2
Proof of Usefulness Score
You're In Business

The project '123swap' appears to be an inactive or abandoned DeFi platform (DappRadar status: 'Inactive', PitchBook status: 'Out of Business' as of 2024). The submission contains demonstrably false claims (e.g., 'most people have used my product') and lacks verifiable active user data or revenue. While the project raised seed funding in 2021, it currently demonstrates zero real-world utility or traction.

Ready to Compete for $100k in Prizes?

Move this data into a HackerNoon blog draft to become eligible for your share of $100k in cash and software prizes

View All Reports

Score Breakdown

Real World Utility+0
Audience Reach Impact+0
Technical Innovation+0
Evidence Of Traction+0
Market Timing Relevance+0
Response Quality+0
Final Score+2

Project Details

Project URL
Description
123swapis in the Cryptocurrencies Industry
Audience Reach
everyone
Target Users
everyone
Technologies
Banking
Traction Evidence
most people have used my product

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline