70 / 100
↓ 3 since last$Index
0x5691…389870· Robinhood ChainAll 3 checks
ngl, not gonna lie
The swap works and millions in fees and payouts show up, but the 15-minute payout claim doesn't hold.
The site's swap reached a real wallet transaction that would go through, and DefiLlama lists The Index with $1.87M in fees and $1.69M paid to holders. The dev holds nothing and nobody else bought in the launch block. The claim of payouts every 15 minutes is contradicted, since the site lists distributions days apart and DefiLlama shows $0 in the last 24 hours. The contract source is not verified, and the 18-stock basket was not confirmed on chain.
Since the last check
The last check, 43 h ago: LEGIT 73. This one: LEGIT 70. See that check
The project looks the same as last time. These numbers moved:
| Measured | Then | Now |
|---|---|---|
| Top 10 holders | 18.1 % | 18.4 % |
Red flags1
15-minute payout cadence is contradicted
The site lists recent distributions days apart, and DefiLlama shows $0 in the last 24 hours. Payouts are real but not as frequent as claimed.
DefiLlama: The Index
Watch out3
Basket of 18 stocks not confirmed
The site lists 18 stocks, but no fact shows what was actually bought or how it is split.
$IndexlaunchContract source is not verified
Nobody can read what the contract does. Bytecode shows no owner switch for minting, blacklists, taxes or pausing.
tokenownerReal audience, but X has gone quiet
The account has 20K followers with no empty-account signs and about 681 likes per post. The last post was 15 days ago.
@TheIndexFi@TheIndexFi@TheIndexFi@TheIndexFi
Checks out4
Swap works up to the wallet
With 0.01 ETH, the quote showed 2,843 $INDEX and BUY produced a wallet transaction request. ngl's simulation says it would go through.
wallet requestscreenshotFees and holder payouts show on DefiLlama
DefiLlama lists $1.87M in fees and $1.69M in holder revenue all time, close to the site's own figures. This is an on-chain footprint beyond the website.
DefiLlama: The IndexClean launch, dev holds nothing
Nobody else bought in the launch block, and the dev wallet holds no tokens. The dev did buy in the launch transaction.
launchdevSupply looks spread out
The top 10 wallets hold 18% including pools, and 1.95% is burned.
tokenburn address, 1.95%burn address, <0.001%
How ngl got here
What the call rests on
Product · Does it exist and work?
The main feature is stock distributions, but the only tested step is a swap that simulates. No fact shows a stock payout reaching a holder.
Claims · Are its claims backed?
The core fee and payout claims are backed, but the 15-minute cadence is contradicted and the basket is untested.
On chain · Holders, bundles, the dev wallet
The launch was clean and the dev holds nothing, and holders are spread out, though the contract is unverified.
Team · X account, dev history, ngl’s memory
The X account is real and sizable but quiet, and ngl has no history on this team.
Cross-checked
A second agent read the same evidence and tried to prove this call wrong.
AnsweredOn chain
The dev bought the full supply in the creation transaction and now holds none, which is a dump; a clean launch does not fit that.
ngl: Chain.8 says the dev bought in the creation transaction, which is a normal launch buy, and chain.9 says the dev wallet "never bought any" and holds none, so the facts show no dump and chain.6 confirms no one else bought in that block.
AcceptedProduct
The main feature is stock distributions, but the only tested step is a swap that simulates. No fact shows a stock payout reaching a holder.
ngl has seen this before
ngl has checked 160 coins. None of them shares this coin’s dev wallet, the wallet that funded it, its website, X account, Telegram or logo.
Ask the agent
Anything about $Index. ngl answers from this check, or goes back to the site and tries what you ask.
Hands-on tests
WorksConnecting wallet and signing in (MetaMask)
Wallet connects and signs in
- What it did:
- Clicked CONNECT, then MetaMask→ with ngl's test wallet
- What the site showed:
- Site asked the wallet to sign a sign-in message; test wallet signed it. Header shows 0xa954…d14a
WorksBuying $INDEX with ETH (swap flow to wallet transaction)
Swap reaches the wallet transaction request
- What it did:
- Entered 0.01 in the YOU PAY field (ETH), quote showed 2,843.0 $INDEX ($22.79), clicked BUY
- What the site showed:
- Wallet transaction request to 0xAF305d053f46338904Ba1fE52940D5724f6C24d1, value 0.01, call 0x90d5131e on chain 4663. ngl refused it after simulating; site then displayed 'User rejected the request.'
