Proof of Usefulness Report

Spot

Analysis completed on 1/30/2026

+115
Proof of Usefulness Score
Gaining Momentum

The project 'Spot' (spot-wallet.com) is a verifiable non-custodial cryptocurrency wallet that has existed since roughly 2018. However, the submission itself is of extremely low quality, containing contradictory information (classifying itself as 'Cloud spend management software', which confuses it with Spot.io) and demonstrably false claims of traction ('most people have used my product'). While the verifiable product has real-world utility as a self-custody solution, the closed-source nature flagged by security auditors and the unprofessional submission heavily penalize the score.

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Score Breakdown

Real World Utility+60
Real World Utility Quality Factor+1
Audience Reach Impact+20
Audience Reach Impact Quality Factor+0.5
Technical Innovation+40
Technical Innovation Quality Factor+0.5
Evidence Of Traction+30
Evidence Of Traction Quality Factor+0.5
Market Timing Relevance+50
Market Timing Relevance Quality Factor+0.5
Functional Completeness+0
Response Quality Quality Factor+0.5
Subtotal+130
Usefulness Multiplierx0.88
Final Score+115

Project Details

Project URL
Description
Spot is developing applications for decentralized protocol interactions.

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