What is the Fundamental Index (FCAS)? FCAS stands for Fundamental Crypto Asset Score. This score comes from examining the basics of a project's business cycle and shows the fundamentals of a digital currency. The principles that are considered for scoring are: User Activity, Developer Behavior and Market Maturity. FCAS ratings are numbers between 0 and 1000. The number 0 is the worst and the number 1000 represents the highest performance of a digital currency. Now let's talk about each parameters of scoring in details:
User Activity: User Activity is a comprehensive measure of the behavior of all consumers in a particular project that includes two main factors:
Using the project
Network activity
The advantage of this principle comes from examining all the activities of a particular blockchain, analyzing solutions if necessary (such as ERC-20 smart contracts), and tagging wallet addresses to identify exchanges, projects, contracts, users, and other types of participants. Various statistical and exploratory models are used to tag all active addresses. Network Activity is a comparable estimate based on the above classifications that focuses on the activities of wallets, stakers, miners, users, and investors. The Project Utilization parameter is calculated based on the activity of the wallets run by users (most of which are smart contract transfers and calls). This activity is used in the predefined application of the project. User activity has a great impact on the FCAS score of the project.
Developer Behavior: Developer Behavior Behavior is an indicator that shows the level of activity and efficiency of the developers of a project and comes from three factors:
Code changes
Code improvements
Project participation
The score of this section is obtained by recording and evaluating source code events in services such as GitHub. There is a slight difference between the obvious criteria of the developer and the activity of the community, so in addition to the commits and pushes sections, other things are examined to get a deeper evaluation of the project. Accordingly, 30 different variables are examined, then generalized to the three factors mentioned above, from which the overall score of developer behavior is obtained. Developer behavior has a major impact on a project's FCAS rating.
Market Maturity: Market maturity, which is obtained from the two factors of risk and money supply, indicates the degree of accuracy of a digital currency in the market. The more rational the market reactions to different scenarios and risk factors (factors such as liquidity, price plans, constant algorithmic forecasting and etc...), the higher the probability. Also in this principle, an analysis of the fixed money supply is performed in each of the projects. The more volatile the money supply and the more it is controlled by a small number of addresses, the lower the money supply points. Market maturity has little effect on a project's FCAS rating.
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