i audited $agora (@agora_elysium) to see if it’s worth buying. it’s the first protocol on elysium outside the launchpads where i see real users. the problem is where the money goes. agora routes every swap to the best pool across all elysium launchpads. plus limit orders, bubble maps, a bridge from hyperevm. the router went live nov 1. in ~28h: 948 trades, $136k, 191 wallets their stats page is honest. the fees it shows match the fee wallet on-chain. the token is clean. fair launch on kleos oct 30. ~$268k mcap, top 10 = 17% of volume. 14 sniper wallets took 35% in the first 5 min. all sold, except the dev no hidden bundle, no bot farm. the dev bought 4.8% at launch for 1.49 hype and never sold a single token. the money: the #1 token traded on agora is. $agora. 23% of the router’s volume. $agora has a 1% buy/sell tax. 80% goes to the creator. the dev claimed 27.9 hype (~$2.3k) of it. that’s 6x the app’s total revenue (4.8 hype). even per day, the tax earns ~2x the app. the docs list that tax as revenue to split: 30% buyback & burn, 5% to holders in hype. when someone asked, the team said the split covers revenue “generated on the agora website not from the coin”. result: the 27.9 hype is in the dev’s personal wallet. nov 1, agora tweeted “now it actually pays the people holding it”. holders have received 0 hype. the fee wallet that should fund buybacks and payouts has never sent a single tx. the “1% burned” = the dev sending 10M tokens from their own launch bag to 0x0 that cost him ~$26. the “first dev buybacks” = 1.6 hype for 2.19M $agora. never burned. still in the dev’s wallet. one wallet owns the router, the limit orders and the v2 fee switch. no multisig, no timelock, no audit. top 10 wallets hold 32.6%. heavier than homer (25%) the two biggest hold 7.85% and 5.29%, bought at ~$22-29k mcap. sitting on ~10x. today the app makes money, the token makes more, and both stay with the team. fees have only been live for ~25h, so it’s early. the one thing i’m watching is the first tx out of the fee wallet. if buybacks and holder payouts start flowing, $agora becomes the only token on elysium backed by real usage. if they don’t, you’re buying a good app whose revenue never reaches you. not financial advice. just reading the chain.