GoPlus (GPS) is a decentralized, user-driven security network designed to protect Web3 users and developers from the growing threats of scams, phishing attacks, and malicious token contracts. The platform operates on two core layers: the Security Data Layer and the Security Compute Layer, which aggregate, verify, and process real-time security data across multiple blockchains and decentralized applications. This architecture enables the detection and prevention of onchain risks, providing security services such as token analysis, phishing detection, and transaction risk assessments.
GoPlus’s SecWare protocol serves as a marketplace for developers to create and deploy modular security services (e.g., anti-scam and anti-phishing tools) within decentralized applications. Meanwhile, users can customize their security experience through SecHubs, personal security centers accessible via the GoPlus application. Other key tools include SecScan, which automates malicious token detection, and Mufuzz, an AI-powered fuzz testing engine for uncovering vulnerabilities in smart contracts. Innovations like phishing site detection and address detection leverage advanced machine learning models to identify threats across onchain and offchain ecosystems.
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After launching in early January 2025, GPS ended the quarter with a circulating market cap of $46.1 million and a token price of $0.02, ranking it as the 497th largest crypto asset by market cap. While the token declined 60.3% from its initial price, this performance aligned with broader market conditions, where many assets experienced significant post-launch corrections and macro-driven drawdowns during the quarter.
Ecosystem profit reflects revenue generated through GoPlus services, primarily from active SecHubs. The revenue model is currently $9.90 per user, covering security services and SecWare transactions; however, the project team plans to transition from the subscription model to a gas fee-based structure in Q2 2025.
In Q1 2025, GoPlus’s ecosystem profit totaled $982,521, up 373.7% QoQ from $207,392 in Q4 2024. The average daily profit also increased from $2,254 in Q4 to $10,917 in Q1.
This offchain metric measures the number of unique IP addresses engaging with the GoPlus application. The app, which includes SecHubs, is a centralized platform offering users a suite of security tools and services.
In Q1 2025, the cumulative number of unique IP addresses interacting with the app averaged 94,094 per day, down 47.7% from the Q4 daily average of 179,960. The quarter’s peak activity reached approximately 2.1 million unique IP addresses on Jan. 7, 2025.
SecHubs are customizable security centers within the GoPlus ecosystem, designed to allow users to configure and execute security services directly onchain. Unlike the broader interface of the GoPlus application, SecHubs provide a more decentralized solution, integrating security services with blockchain interactions, such as transactions.
In Q1 2025, GoPlus reported an average of 40.4 active SecHubs, representing a 47.2% QoQ decrease from 76.6 in Q4 2024.
API query volume tracks the number of calls made to GoPlus's security APIs and supports features like token checks, malicious address detection, and phishing alerts. This offchain metric includes blockchain-level interactions (e.g., transaction simulations and malicious address detection) within the network infrastructure.
In Q1 2025, API query volume averaged 30.5 million per day, representing a 9.8% decrease from the Q4 daily average of 33.8 million. This data has been updated from the previous report, which used the “authorized contract API query volume” metric from GoPlus's Dune dashboard. That metric specifically tracked API calls made by external users and platforms, but according to the team, was not the primary one used by customers. The current data is derived from the "daily request volume" metric on the Dune dashboard.
This offchain metric includes blockchain-level interactions (e.g., transaction simulations and malicious address detection) within the network infrastructure. In contrast, authorized API request volume specifically measures API calls made by external users and platforms interacting directly with GoPlus's services.
In Q1 2025, blockchain request volume showed mixed trends across networks. Solana led growth, with requests increasing 31.1% QoQ to 5.4 million from 4.1 million. Base followed with an increase of 28.7% to 198.7 million from 154.4 million. Avalanche saw request volume grow 11.6% to 8.3 million from 7.4 million, while BNB Chain also recorded positive growth, rising 6.4% to 227.4 million from 213.7 million.
In contrast, several networks recorded declines. Ethereum’s request volume fell by 34.1% to 215.6 million from 327.0 million, Polygon decreased 20.9% to 26.6 million from 33.7 million, and Arbitrum dropped 1.6% to 17.7 million from 18.0 million. The "Others" category decreased by 20.0% to 28.0 million from 35.0 million.
These trends indicate increased activity on Solana, Base, Avalanche, and BNB Chain, while Ethereum, Polygon, Arbitrum, and other networks saw reduced usage during the quarter.
Launched on Nov. 27, 2024, the GoPlus Chrome extension strengthens user security by detecting phishing sites, risky transactions, and wallet vulnerabilities. Since launch, it has processed over 11.6 million transactions and ended the quarter with 136,710 active downloads, down 20.9% from 172,760 in Q4 2024.
GoPlus Locker is a security tool that allows token projects to lock tokens and liquidity pool (LP) assets in a decentralized and transparent manner. The v2 Locker, which supports Uniswap V2 pools, represents the earlier version of GoPlus’s LP locking infrastructure and offers fundamental asset-locking capabilities. The v3 Locker, which supports Uniswap V3 pools, introduced multichain support, an improved user interface, and greater flexibility for structuring locks across networks.
At the end of Q1 2025, GoPlus Lockers held a combined total value locked (TVL) of $30.3 million, ranked 3rd in terms of the overall market on DefiLlama. The v3 Locker accounted for nearly all of this, ending the quarter with $30.3 million in TVL, while the v2 Locker recorded $7,812.
On Jan. 2, 2025, GoPlus released a detailed breakdown of its new GPS token. For an overview of additional features of GoPlus, please refer to the Messari Initiation of Coverage (IoC) report.
The above pie chart depicts GPS token allocations (valued at ~$258 million based on a token price of ~$0.026):
Vesting schedules for the parties mentioned above:
Between March 4-5, 2025, GoPlus faced community backlash following GPS’s price after its centralized exchange listings. On March 5, the team publicly denied selling tokens and stated that recent transfers to Binance were part of a listing strategy: 3% of the supply was allocated to the BNB HODLer program, and 2% was allocated to Binance for operations. In a follow-up on March 11, GoPlus released a five-part recovery plan, which included (i) a $2 million USDC compensation pool for net buyers on Binance during the March 4–5 window, (ii) a $4.34 million token buyback using frozen market maker funds, (iii) additional staking incentives, (iv) future airdrop rewards, and (v) new product-based utility for the GPS token. The team also acknowledged delays in executing the buyback due to Know Your Business (KYB) verification requirements for setting up a corporate Binance account, which had not been in place at the time of the listing.
After receiving KYB approval, GoPlus launched the GPS buyback program on March 23 using recovered funds. The team committed to conducting buybacks via limit orders and sending all purchased tokens to a designated burn address on Base. On March 24, GoPlus confirmed that the $2 million USDC compensation had been fully distributed to eligible Binance users. On March 25, the team announced the completion of the first buyback batch totaling ~34.9 million GPS. On March 31, they announced the completion of the second buyback batch totaling ~89.0 million GPS. All buyback activity is being tracked onchain, and weekly updates were promised.
On Feb. 20, 2025, GoPlus released its updated roadmap outlining three strategic priorities for the year:
1. Build a Comprehensive Decentralized Security Layer
2. Develop Security Infrastructure for the AI Ecosystem
3. Expand Decentralized Data and Compute Infrastructure
Beyond the mixed performance metrics, Q1 delivered substantial progress in AI integrations. Specifically, in January, GoPlus teamed up with Virtuals to embed real-time onchain threat detection into AI agent frameworks and partnered with ElizaOS to integrate its onchain threat detection system across 30+ blockchains for AI agents. Other developments are listed below, with March being the most active month.
January:
February:
March:
GoPlus launched its GPS token in January 2025, ending the quarter with a circulating market cap of $46.1 million and a token price of $0.02. Similar to broader market trends, GPS declined 60.3% from its launch price amid widespread token volatility and post-listing corrections. Ecosystem profit grew sharply, up 373.7% QoQ to $982,521, while blockchain request volume rose across Solana (31.1%), Base (28.7%), Avalanche (11.6%), and BNB Chain (6.4%). However, authorized API query volume dropped 52.5% to 559,737, SecHub activity declined 47.2% to an average of 40.4, and unique application IPs fell 47.7% to a daily average of 94,094.
Despite the pullback in some usage metrics, GoPlus recorded meaningful developments throughout Q1. It released its updated 2025 roadmap outlining priorities across decentralized security infrastructure, AI agent protection, and data compute layers. The team also launched Locker v3, activated GPS-based service payments, and published a detailed breakdown of GPS tokenomics, including allocations, vesting terms, and planned utility. Additionally, a five-part recovery plan was introduced in response to community concerns post-listing, including a $2 million user compensation fund and a $4.34 million token buyback. Other major integrations during the quarter included partnerships with Story Protocol and AI-focused platforms such as ElizaOS, Heurist, and R6D9, reinforcing GoPlus's role at the intersection of security and the broader market.
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Research analyst. Painter in the past life. Background: Quantitative analyst in TradFi, research stint in renewables + weather, recent data science grad.