Verona ranks #134 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #864: 730 of the 863 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 1107 non-native assets CoinSpectrum lists above it by market cap, about 67% are tokens, 24% are claims on other assets and 9% are memecoins.
| CoinSpectrum Grade | C · 60/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #134 |
| Rank counting claims | #864 |
| Market capitalisation | $12M |
| Price | $0.1338 |
| Circulating supply | 92,675,958 VERONA |
| Maximum supply | 200,000,000 VERONA |
| Consensus family | Proof of Stake |
| Consensus mechanism | Tendermint (CometBFT) |
| Network purpose | General purpose |
| Ledger type | Single-asset ledger |
| Launch distribution | Presale |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
C — 60 out of 100, provisional (from 17 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 51 to 67 (D to B).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 9.1 | group average |
| Consensus: leader ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 5.1 | group average, 10 of 13 measured |
| Sound Money Qualities (6 checks) | 6.8 | 3.4 of 5 points, 1 not yet measured source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 4.4 | fixed maximum supply of 200 million, but an issuer or vote can mint outside the schedule: supply scale 8.7, cap 0 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 1 full year since its first recorded price, no halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | – | |
| Divisibility: the smallest unit worth a cent or less | ✓ | 6 decimal places, the smallest unit worth $1.3e-7 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0.00061; about 18,000 transactions a second (10 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | ✓ | node software open source; light clients verify from headers or proofs |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Any key can hold and send VERONA; the Cosmos SDK bank and auth modules carry no identity check. |
| UTXO ledger: a new key for each payment, no account linking every coin | ✗ | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | CometBFT mempool gossip with no Dandelion or built-in Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Transfers are public. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Accounts are public. |
| Scalability (fees, throughput, block time, block space, features) | 8.4 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00061 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 10 | about 18,000 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.2 | a block every 4.04 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 22 MB limit, 3270 MB per 10 minutes |
| Features (3 checks) | 10 | 3 of 3 passed |
| Payments safe to accept within seconds | ✓ | CometBFT single-block deterministic finality, with blocks averaging about 4.1 s. |
| Pruned nodes: a full node can validate and drop old history | ✓ | Cosmos SDK state pruning and CometBFT state sync. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | CometBFT light client protocol verifies signed headers against the validator set, as used by IBC. |
| Security (miner pay and 7 checks) | 5 | 5 of 9 points source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 0 | not mined |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✗ | not mined |
| Largest pool or validator under 50% | ✓ | 19.06% |
| Largest three under 75% | ✓ | 40.76% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Verona (formerly XION) is developed by Burnt Labs in the burnt-labs repository. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 3,471 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 8.9 | 8 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 2 | Token Factory module open to any account for a 1,000-coin denom fee, and CosmWasm contracts (including CW-20) that anyone may instantiate, though new code uploads go through governance. |
| Smart contracts: a general-purpose contract system | 2 | The former XION chain (renamed Verona in June 2026) runs CosmWasm contracts with abstract accounts; new code uploads go through governance. |
| Multisig and time locks | ✓ | Cosmos SDK threshold multisig keys, x/auth/vesting and CosmWasm abstract-account contracts. |
| Atomic swaps with other chains | ✓ | HTLCs can be written as CosmWasm contracts. |
| An exchange built into the protocol | ✗ | No exchange module in the app. |
| Cross-chain messaging the chain verifies itself | ✓ | IBC transfer, interchain accounts, callbacks and packet-forward middleware (ibc-go v11). |
| Non-fungible tokens | ✓ | CW-721 contracts run by its CosmWasm module. |
| Decentralisation | 4 | section average, 5 of 8 measured |
| Censorship resistant (Source) | — | Not yet researched |
| No central team (Source) | 0 | A central team directs it: Verona (formerly XION) is developed by Burnt Labs in the burnt-labs repository. source |
| Who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 0.6 | 94.1% of today's supply allocated at launch to founders, a company, a foundation or investors. Verona is the renamed XION (Burnt). The 200M genesis supply was allocated in full: strategic backers 26.81%, ecosystem incentives 23%, team 20%, community and launch 15.19%, protocol and foundation 15%. Current on-chain supply is 212,461,711 XION (bank supply of uxion, 2026-10-23); the difference is staking inflation. source |
| Fundraising | 0.6 | Sold by its issuer or insiders: 94.1% of supply was theirs to sell, 25.2% sold so far. Burnt/XION reportedly raised about $36M: $3M pre-seed (2021), $8M seed (2022), an undisclosed strategic round (2023), and a $25M Series A (April 2024) with Animoca Brands, Multicoin, Laser Digital, Arrington, Draper Dragon, Sfermion and GoldenTree. Strategic backers hold 26.81% (53.62M). source |
| Developer share (after launch) | 10 | Developer share: about 0.12% of today's supply received so far; 2% of each new block reward goes to them today. The Cosmos SDK community tax sends 2% of block rewards (inflation plus fees) to the community pool (on-chain parameter, xion-mainnet-1). Supply is 212.47M against 200M at genesis, so ~12.5M has been minted, and 2% of that is ~0.25M, about 0.12% of supply. source |
| Supply & Demand | 7.7 | group average |
| Supply & Demand (Source) | 6.6 | average of 6 measures |
| Exchanges (10 or more: 10) | 7 | 7 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 2.8 | $3,317,988 traded in 24 hours; #1122 by volume on the exchanges the site reads (scored on the median day of the last 30, $252,825) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 8.4 | 2.5% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 8.4 | $41,357 within 2% of the price on 5 exchanges, 0.33% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 2.7 | $12M, 2.7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 10 | no futures, options or margin on the exchanges read |
| Supply (smaller is better) | 8.7 | fixed maximum supply of 200 million |
| Record | 6 | group average |
| Record (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
| Age (years since genesis) (Source) | 1 | 1 full year since 2024-12-05, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 7 | 2 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 268 commits in 11 of the last 12 months (github.com/burnt-labs/xion); XION (Verona) v32.0.1, released 2026-10-24. |
| Shipped a security fix in two years, +1 | ✓ | xiond v31.0.0, mainnet upgrade 22 Sep 2026: embargoed CosmWasm security release; v31.0.1 (Oct 2026) fixed a Barretenberg public-inputs vulnerability. |
| Not yet researched | ||
| Shipped a new capability for users in two years | – | |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
92,675,958 of a maximum 200,000,000 VERONA are in circulation — 46.3% of the total that will ever exist.
| Premine (allocated at launch) | 94.1% of today's supply |
|---|---|
| Sold by the issuer or insiders | 25.2% of today's supply |
| Developer share received since launch | 0.12% of today's supply |
| Developer share of new coins today | 2% |
| Fundraising | Private or venture funding |
Verona is the renamed XION (Burnt). The 200M genesis supply was allocated in full: strategic backers 26.81%, ecosystem incentives 23%, team 20%, community and launch 15.19%, protocol and foundation 15%. Current on-chain supply is 212,461,711 XION (bank supply of uxion, 2026-10-23); the difference is staking inflation.
Burnt/XION reportedly raised about $36M: $3M pre-seed (2021), $8M seed (2022), an undisclosed strategic round (2023), and a $25M Series A (April 2024) with Animoca Brands, Multicoin, Laser Digital, Arrington, Draper Dragon, Sfermion and GoldenTree. Strategic backers hold 26.81% (53.62M).
The Cosmos SDK community tax sends 2% of block rewards (inflation plus fees) to the community pool (on-chain parameter, xion-mainnet-1). Supply is 212.47M against 200M at genesis, so ~12.5M has been minted, and 2% of that is ~0.25M, about 0.12% of supply.
The site has no label yet. Trackers quote 200M as both total and max supply, but on-chain supply is already 212.5M and inflation is active, so 'max 200M' is wrong. Burnt's own whitepaper gives a slightly different split (ecosystem 23%, team 20%, strategic backers 27%); the premine total is unaffected. The $36M total comes from one aggregator.
Sources: api.xion-mainnet-1.burnt.com · api.xion-mainnet-1.burnt.com · app.tokenomics.com · coincarp.com · alphagrowth.io. Researched 2026-10-24, medium confidence.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Verona is #134 among cryptocurrencies and #864 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 730 places between Verona's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).