Since CoinMarketCap introduced its new Fundamental Crypto Asset Score (FCAS), several projects have taken to social media to boast about their score. The most unashamed of these appears to be IOST, which saw its FCAS grow from 385 to 747 after launching its mainnet.

In a recent tweet, IOST boasted that its fundamental health score has doubled since its February 25 mainnet release, in which the IOS Foundation claimed to be ‘The Most Complete Mainnet Launch To Date.’ Conversely, IOST remains a cryptocurrency that has witnessed breathtaking losses since May of 2018.

Prior to the release of the IOST mainnet, the project had an FCAS of 385, with the simple launch of the mainnet apparently adding more than 250 points. This boost simultaneously hulked IOST from the ‘worryingly low’ category, up to just 747 — only about 130 points lower than that of Bitcoin (BTC).

The CoinMarketCap Fundamental Crypto Asset Score is determined through a combination of several indicators used to estimate the health of a crypto project. These indicators can be broken down into three main categories:

  • User activity
  • Developer behavior
  • Market maturity

To determine user activity, CoinMarketCap looks at a number of different factors that indicate the number of active users using a cryptocurrency and determines how much of this activity involves the cryptocurrency’s intended use case.

Beyond this, a chunk of the FCAS score is attributed to the health of the project’s development community. This includes looking at indicators of strength, such as the number of active developers, the frequency of code changes, and involvement of the development community. This is also combined with market maturity indicators such as volatility, liquidity, and price projections to determine the project’s overall ‘health.’

With a maximum possible score of 1,000, a score of 739 places IOST in the upper echelons of health, though it still lags significantly behind similar projects such as Dash (DASH) and Zilliqa (ZIL) — both of which scored over 780.

As it stands, Ethereum (ETH) has the highest FCAS of any project, and is currently the only project with a score above 900, sitting at 907 at the time of writing.

Despite boasting its success, IOST remains down more than 57 percent since its Initial Coin Offering (ICO). Meanwhile, many IOST users appear to be perplexed with the news, with one user, in particular, asking “Does CMC know something that we don’t?”

What is your opinion on IOST? Can it make good on its promises of powering the future Internet of Things (IoT)? Let us know your thoughts below!