Proof of Usefulness Report

NDAX

Analysis completed on 1/26/2026

+490
Proof of Usefulness Score
Industry Mainstay

NDAX is a verified, established Canadian cryptocurrency exchange with significant market presence, adhering to regulatory standards (FINTRAC, OSC). However, the submission itself is of extremely low quality, featuring hyperbolic claims ('audience reach: everyone', 'most people have used my product') and zero verifiable data. While the project's real-world utility and actual traction are high, the score is heavily penalized by low Quality Factors due to the lack of evidence provided in the entry.

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Score Breakdown

Real World Utility+225.0
Audience Reach Impact+75.0
Technical Innovation+45.0
Evidence Of Traction+100.0
Market Timing Relevance+85.0
Functional Completeness+2.5
Subtotal+532.5
Usefulness Multiplierx0.92
Final Score+490

Project Details

Project URL
ndax.io
Description
NDAX, or the National Digital Asset Exchange, is a Canadian-based cryptocurrency trading platform accessible through its domain ndax.io. The company provides a secure and user-friendly environment for buying, selling, and trading a wide range of digital assets. NDAX is known for its robust security measures, competitive fees, and compliance with Canadian financial regulations. The platform caters to both individual and institutional investors, offering advanced trading tools, a comprehensive suite of educational resources, and dedicated customer support to facilitate seamless cryptocurrency transactions.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
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