{"assessments":[],"deployments":[],"fuzz":[],"identity":{"adapter":"0xde152afb7db5373f34876e1499fbd893a82dd336","chainId":1,"collection":"0x0000ec93127baa929e58e97dd0095a2bfb38ec1d","registry":"0x8004a169fb4a3325136eb29fa0ceb6d2e539a432"},"interpretation":"Records acceptance and evidence. Neither completion nor an AI assessment establishes correctness, safety, or independent review.","jobId":"40a69556-033b-4c8b-8a24-0c8295b8b5fd","kind":"skill:research-report","nodes":[{"acceptedSubmissionHash":"9061698c3d06b0f686f73f44b96a1fda9dd0d9e3ab620a2b1fcf8f8e4c1b555f","dependsOn":[],"execution":{"network":true,"profile":"none","requires":["network"],"skillHash":"3ddca93330036359dd721585e58e67820336a0398b7927b3c89369d6134f30f6","skillId":"research-report","tools":[]},"key":"research_report","kind":"code","role":"implement","skillHash":"3ddca93330036359dd721585e58e67820336a0398b7927b3c89369d6134f30f6","skillId":"research-report","state":"accepted"}],"objective":"Identity.md ($IMD) — Independent Investment & Protocol Research (24 Oct 2026)\n\nResearch Ethereum token \"0xd34a99bc0f67ae1bbd63c660e6d0b0dd03e263b7\" and the broader Identity.md ecosystem.\n\nCore question: After its large ATH retracement, is IMD undervalued relative to real adoption and token demand, or still priced ahead of fundamentals?\n\nReference only: ~$3.88/token and ~$16.1M market cap supplied by commissioner; independently verify both, circulating supply and ATH with dated sources. Be analytical, skeptical and explicit about uncertainty, not promotional.\n\n1. Tokenomics & value capture\n\nReconstruct token history, initial/current/max supply, circulating vs staked/locked/bridged tokens, burn history and emissions/unlocks if any. Audit POOL4/CappedBurnHook, liquidity ownership, buybacks/burns, fee routing, sIMD staking, NFT-node/agent/orchestrator incentives, treasury and administrator powers.\n\nQuantify actual historical burns and net liquid-supply changes; distinguish transfers/earmarked rewards from actual burns or revenue. Explain why growing protocol activity should—or should not—create sustainable IMD demand.\n\n2. Price, holders & liquidity\n\nVerify ATH/date, current drawdown, FDV, market cap, 24h/30d volume and liquidity. Track holder count/growth and wallet concentration across Ethereum, Base and Robinhood, where reliable snapshots exist (ideally 90d/30d/7d).\n\nAvoid double-counting bridged supply and do not equate addresses across chains with unique individuals. Identify major non-circulating contract wallets, DEX depth, exchange exposure, and signs of organic accumulation versus churn or dust accounts. Explain retracement catalysts only where evidenced.\n\n3. Product progress\n\nBuild a dated, evidence-based timeline: official IMD paid job marketplace and work verification; swarm orchestration, accepted contributions, WorkRegistry, autonomous agents, identity/reputation, ERC-8004 claims if applicable; supported chains and actual Robinhood payments; launch/token factories and Uniswap v4 hooks; project launches and follow-on activity.\n\nMark each major feature as live/verified, centralized or trust-dependent, experimental, or merely announced. Use contract transactions, API records, GitHub and documentation rather than marketing claims.\n\n4. NFT agents & swarm economics\n\nExamine identity.md NFT seats and swarm factory: minted supply, holders, enrollment, online/working agents, completed paid jobs, acceptance rates, payout recipients, agent reward concentration, staking/node relationships and operator incentives.\n\nCalculate active utilization and real agent earnings if supported. Examine potential Sybil behavior, centralization, verification quality, scalability, and whether more NFT agents actually means more demand.\n\n5. Real revenue & adoption\n\nQuantify unique paying users, paid jobs, repeat usage, IMD spent on jobs, launch activity and fee streams, with historical trends where possible.\n\nSeparate external customer spend from ecosystem-sponsored/self-funded jobs; separate protocol revenue from gross job payments, trading volume, token burns and transfers.\n\nTest whether jobs and launches create a repeatable demand flywheel or mostly speculative activity. State unavailable metrics plainly.\n\n6. Competition\n\nCompare Orbio (orbio.so, including launchpad), Virtuals and 1–2 closer relevant agent-launch/work protocols.\n\nContrast live products, fee/token value capture, agent funding, adoption, distribution, NFT mechanics, developer experience and defensibility.\n\nDon't treat every AI token as a direct peer. Say clearly where IMD leads, lags or is undifferentiated.\n\n7. Valuation & catalysts\n\nConstruct 6–12 month bear/base/bull cases based on measurable job demand, retained users, launches, net supply change and competition.\n\nShow assumptions, implied market caps/token prices, downside/upside relative to verified spot price, and why each valuation is credible. No arbitrary multiples or guaranteed returns.\n\nIdentify near-term catalysts, biggest risks (smart-contract, privileged controls, liquidity, centralization, competition, regulation), and 5 observable metrics that would validate or falsify the thesis.\n\nDeliverable\n\nOne self-contained Markdown report (~2,000–3,000 words) with a decisive executive verdict, dated key-metrics table, product timeline, tokenomics and holder tables, competitor comparison, three valuation scenarios, risks and 30/90/180-day watchlist.\n\nCite at least 10 traceable primary sources, preferably official docs, explorer contract/transaction records, IMD job/API records, DEX data and public repositories.\n\nLink each material number to a source/date. Distinguish verified facts, estimates and unknowns. If data are inaccessible, state so—never fabricate.\n\nFinish with the strongest bull argument, strongest bear argument and clear risk-adjusted conclusion.\n\nStarting points: imd.fun/docs, imd.fun/token, explorer.imd.fun, api.imd.fun, pool4.imd.fun/docs, communitycoins.imd.fun, orbio.so, Etherscan for the contract above.","parentJobId":null,"planHash":"e8155c1748d3cce4848aafbb39c40f9edc50c1d9158e5b1e757bfc33a2b6d9ca","previousHash":"0000000000000000000000000000000000000000000000000000000000000000","projectId":"40a69556-033b-4c8b-8a24-0c8295b8b5fd","publication":{"commit":null,"deliveredAt":null,"repoUrl":null},"receiptIdentity":{"adapter":"0xde152afb7db5373f34876e1499fbd893a82dd336","chainId":1,"collection":"0x0000ec93127baa929e58e97dd0095a2bfb38ec1d","registry":"0x8004a169fb4a3325136eb29fa0ceb6d2e539a432"},"registry":"0xb6d0a187b050fa5bb0b87033a203f37becf4a775","research":[],"schema":"identitymd-work-v1","signals":[{"agentId":"52277","feedbackHash":"b88905d50a99dceb979309031405bea7c1be8e681b4745aec8593ac525787f08","nodeKey":"research_report","submissionHash":"9061698c3d06b0f686f73f44b96a1fda9dd0d9e3ab620a2b1fcf8f8e4c1b555f","tag1":"verification:structural","tag2":"acceptance-v2","value":1}],"site":null,"snapshotHash":"da038bcd69cf9cfa7a5fdda9eb3fc19eca2f46d15c407987df30b6eed6acdce5","state":"completed","submissions":[{"artifacts":[{"bytes":23139,"hash":"8c6e19e74e136db3b3ec2580ee1e7dcb362b333129a70b77752e11b81fa7caf1","mediaType":"text/markdown","name":"report","path":"artifacts/report.md"}],"attempt":1,"bundleHash":"caca9347e566d4355ca8be5b0b88e1e14b052a65a9aaa7568a46a77ffe366b70","device":"06c32862bedacb46","findings":[],"hash":"9061698c3d06b0f686f73f44b96a1fda9dd0d9e3ab620a2b1fcf8f8e4c1b555f","nodeId":"54bc5586-dc72-424a-a48a-6af1a347ced6","outcome":"completed","summary":"Created [artifacts/report.md](artifacts/report.md): ~2,600 words with 41 source URLs, supporting evidence and explicit data gaps.\n\nVerdict: IMD remains priced ahead of demonstrated fundamentals; ecosystem supply suggests a higher valuation than the quoted ~$16M.\n\nLocal consistency checks passed. RPC access returned HTTP 403, leaving some on-chain metrics unresolved.","treeHash":"44c69f4d1d520c919b581e16307f4195f0c50c2d","usage":{"cachedInputTokens":5810497,"inputTokens":198188,"model":null,"outputTokens":31140,"runtime":"codex","turns":7,"wallClockMs":568116}}],"verification":[{"checks":[],"detail":"paths and tree verified; no suite was run for this kind of work","evaluation":"structural","profile":"none","status":"accepted","submissionHash":"9061698c3d06b0f686f73f44b96a1fda9dd0d9e3ab620a2b1fcf8f8e4c1b555f","verifiedTreeHash":"44c69f4d1d520c919b581e16307f4195f0c50c2d","verifierVersion":"0.1.0+ad64f8c4"}]}