Tokenomics Audit

Bad tokenomics kills projects slowly—then suddenly. We stress-test incentives, emissions, governance capture, and reflexive “death spiral” dynamics before they ship.

What we cover

  • Emission schedules and inflation regimes

  • Vesting cliffs and liquidity shock risks

  • Governance power distribution and capture paths

  • Incentives across users/builders/LPs/validators

  • Attack incentives (bribeability, extraction, manipulation)

  • Parameter sensitivity and stability ranges

Common Failure Modes

Governance capture and control drift

Governance capture and control drift

  • Concentration that enables takeover
  • Mispriced voting power and bribery incentives
  • Upgrade/control paths without checks
Unstable emissions and liquidity shocks

Unstable emissions and liquidity shocks

  • Emissions that overwhelm organic demand
  • Vesting cliffs that nuke price support
  • Incentives that attract mercenary liquidity only
Reflexive failure loops

Reflexive failure loops

  • Reward dilution → price drop → exit → deeper dilution
  • Peg/target assumptions that fail under stress
  • Parameter regimes with no stable equilibrium

How we work

01

Define objectives

Define objectives

what the token must do

02

Model incentives

Model incentives

who wins, who loses, and why

03

Stress-test

Stress-test

parameter sweeps and adversarial scenarios

04

Capture analysis

Capture analysis

governance and bribe economics

05

Report

Report

risks framed as failure trajectories

Tools and Standards

Core Tooling

  • cadCAD for system and policy simulation
  • Mesa for agent-based modeling when actors matter
  • NetworkX for graph and dependency analysis
  • SciPy optimize for sensitivity and constrained optimization

Outputs

  • Investor-friendly stability narrative + technical appendix
PortswiggerGithubMitreOWASP

What we map to

  • Stability and incentive-compatibility properties
  • Attack profitability thresholds
Background

Deliverables

Securing High-Impact Enterprise System

What Our Clients Trust us with

Client Video

We partnered with ImmuneBytes for a security audit of our products. Their expertise and professionalism instilled confidence throughout the process. They promptly addressed our questions, and their thorough analysis significantly enhanced our project's security, safeguarding our users' assets. We highly recommend ImmuneBytes and look forward to future collaborations.

Aruje Jahan

Lokr, Product Owner

ImmuneBytes demonstrated the perfect blend of expertise, commitment, and accountability, resulting in an audit that surpassed expectations. Their thorough approach and dedication ensured a high-quality outcome, reflecting their capability and professionalism in delivering exceptional service.

Dheeraj Borra

Stader Labs, Co-Founder

Robots can do audits, but the personal touch makes a difference. That's why we love Immunebytes! Not only do they do top-class audits, but they also take the time to understand our project and why certain things are done in specific ways. They take the time to ensure we feel heard, which shows in their work.

Yog Shrusti

Farmsent, Co-Founder & CEO

We are thoroughly impressed by their team, who left no scope for a communication gap and provided a quick turnaround time. They took up each requirement with utmost detail and acted on it. It was a pleasing experience to work with you. Looking to working with you guys again!

Mac P

Ethernity, Chief Engineer

What You Need to Know?

Frequently Asked Questions

We review your token's economic model: emission schedules, supply dynamics, staking rewards, governance distribution, and vesting. Bad tokenomics can crash your token price even if the code is perfect.

Example: Infinite inflation with no burn → supply grows faster than demand → price crashes. Or: All tokens vest at once → massive sell pressure → liquidity drain. We model these scenarios.

Inflation rates, unlock timelines, vesting cliffs, and reward sustainability. If your rewards outpace organic demand, you're printing tokens into a falling market.

We analyze token distribution: If 3 wallets control 51% of voting power, governance is centralized. If early investors unlock billions while retail holds peanuts, manipulation risk is high.

Yes—if reward structures incentivize dumping, wash trading, or gaming emissions without creating real value, we flag it. Example: Vampire attacks on other protocols, or token designs that reward mercenary capital.

We model reward APYs against token price trajectories. If staking rewards are 50% APY but demand is flat, you're diluting holders into poverty. Sustainable models balance emissions with organic growth.

It proves your token won't death-spiral from bad incentives. Investors care about long-term viability—audits show your economic model actually works.

Secure Systems

Let’s Evaluate Risks and Secure your Systems

+917303699708team@immunebytes.com
Immunebytes

A blockchain security audit firm with the goal of making the Web3 space more secure through innovative and effective solutions.

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