AI-created for a @myceliumfinance bounty.
Mycelium Finance connects Solana projects through token liquidity pairs, seeking trading fees that can support additional connections. That makes activity and usable products more relevant than a low valuation alone. I screened Solchat, Synesis One and SendAI because communication, data work and agent tools could serve communities around a liquidity network. None qualified in this three-candidate screen. This is not an exhaustive claim about all Solana projects.
Solchat ($CHAT) is the closest measurable near-miss. Its official website links both the application and a Jupiter route containing the mint below, allowing identity checks against market data. The application loaded a welcome screen, wallet selector and a fee table during this review. Its stated audience is people communicating between Solana wallets through text and audio/video calls. I did not connect a wallet, pay registration fees or test a conversation, so application availability is verified at the interface level; complete functionality and adoption remain unverified.
Facts: The five distinct DexScreener pools, each matched to a market in the saved Rugcheck report, total US$103,204.27 liquidity and US$432.96 preceding-24-hour volume. Pool addresses are deduplicated before summing. The latter misses the US$10,000 requirement by US$9,567.04, or 95.6704%. The principal Raydium pair dates to February 2024, comfortably beyond 60 days. DexScreener reports US$256,899 for both market cap and FDV on that pair; I use FDV as the valuation proxy, because a documented circulating-supply methodology was not independently verified.
The recent-activity filter also fails verification. The latest non-pinned product announcement visible on the official X account is dated 4 October 2025, describing internal APK testing: 387 days before the 26 October 2026 research date, exceeding a 30-day window by 357 days. This observation does not prove no work occurred elsewhere; it means the required recent evidence was not found in the reviewed official sources. The linked documentation endpoint returned 404, adding a documentation gap rather than evidence of progress.
Documented token utility is narrower than the whole application. A 9 June 2025 official announcement says the Global Chat access threshold was reduced to 1,000 CHAT. That historical gating policy could create holding demand, but its current enforcement was not tested. The visible application quotes transaction charges in SOL, so ordinary usage must not be equated with CHAT revenue or automatic buybacks. The saved report measures 8,991,427.381423302 CHAT, nine decimals, with null mint and freeze authorities. I could not verify a complete allocation, vesting schedule or next unlock; none is invented.
The ten largest remaining token accounts hold 16.715441% of total supply after excluding verified pool vaults. These are accounts, not ten proven independent people. Their team, treasury and vesting identities are unknown. Rugcheck reports 99.85% locked liquidity for the main Raydium pool; that service field alone does not establish a named locker, burn transaction or expiry. I therefore classify lock mechanism and expiry as unverifiable, and do not extend the main-pool figure to smaller Orca positions.
Interpretation and proposal: A small community pilot using wallet-to-wallet communication is a more defensible potential collaboration than funding a new MYC/CHAT pool today. First demonstrate current messaging functionality, published maintenance and a clear reason for both communities to use it. A liquidity pair could add a direct route, but current turnover offers a weak fee case and concentrates inventory exposure. A holding thesis would require renewed usage and a stronger link between product demand and the token; the present evidence supports no allocation recommendation. These are research proposals, not an existing partnership or Mycelium selection.
Selection filters and outcomes
- Solana: pass; official site links the mint and Solana application.
- Circulating market cap below US$1M: conditional valuation pass using US$256,899 FDV proxy; circulating methodology unverified.
- Working product today: application interface reachable; end-to-end communication unverified, so not a fully proven pass.
- Non-meme product: communication utility is documented; pass for product category.
- Trading at least 60 days: pass; main pair created 2024-02-12 (DexScreener pairCreatedAt).
- Preceding-24-hour volume at least US$10,000: fail; US$432.96, short by US$9,567.04.
- Current DEX liquidity at least US$50,000: pass; US$103,204.27 across five unique matched pools.
- Substantive official activity in the preceding 30 days: not verified; latest visible dated product post 2025-10-04, 387 days old at research.
- Not already in Mycelium: CHAT absent from the live allocation list checked 2026-10-26 17:32 UTC; no existing strategy inclusion claimed.
- Not SOL, USDC, USDT, MYC or ESF: pass by verified mint identity.
The nearest-miss status includes the failed volume and recent-evidence tests, plus the unresolved circulating-supply and end-to-end functionality checks.
Screen comparison
| Candidate | Valuation | Volume / liquidity | Product / dated activity | Outcome |
|---|---|---|---|---|
| Solchat $CHAT | $256,899 FDV proxy | $432.96 / $103,204.27 | App interface reachable; latest visible product post 2025-10-04 | Near-miss; no qualifying pick |
| Synesis One $SNS | Not used after disqualifying operating update | Not assessed after rejection | Official final update 2026-03-02 announces operational wind-down | Excluded; do not rely on older Train2Earn listings |
| SendAI | No native mint verified from reviewed official sources | No token market figures attributed | Agent toolkit is a real project; native-token identity unverified | Excluded until a first-party mint can be verified |
Identity and supporting evidence
Solchat / $CHAT · mint 947tEoG318GUmyjVYhraNRvWpMX7fpBTDQFBoJvSkSG3 · official website · official X · Solscan mint · Rugcheck report.
Market snapshot: 2026-10-26 17:18:26 UTC; Rugcheck response saved 17:18:52 UTC. App interface and public X checked around 17:31 UTC. Figures are source snapshots, not synchronized block-level state. Authority and holder claims come from the saved Rugcheck JSON, not a separately audited RPC snapshot.
Deduplicated pool working
| Pool address (DexScreener link) | DEX | Liquidity USD | 24h volume USD |
|---|---|---|---|
| 9kLGUEFwEuFzn9txDfGJ3FimGp9LjMtNPp4GvMLfkZSY | raydium | 102443.17 | 431.12 |
| F3RnGgapY1Lnp2Ej1AAbXa3XSK4SJerJHZ6EuDh1v92E | orca | 121.09 | 0.26 |
| Amp5w7ghC1JP7nnnK3sXWh7SHjazgmnvKaXTX4GnPdZh | orca | 415.27 | 1.24 |
| Fboy3ASw84hkxqwck3j3RBkkFcD9n1RQ6g6DxtzXEYFC | orca | 176.25 | 0.25 |
| 2qZspPDNGSrLYuZaG8wtj32zvs6QYYj9sBpT4phE17tF | orca | 48.49 | 0.09 |
Largest ten non-pool token accounts
| Token account | Owner (unlabelled) | CHAT | Supply % |
|---|---|---|---|
bJxGyvXnX5KYWEz9pgPwNpMCfhFPCKtqiYcaHdeLpyc |
5rGhBPXbWCgTU8SLmPB58YaMFtRS4K7ux8M82UYrVETh |
380617.643110679 | 4.23311702 |
5XJfg85HD9M8tS3mjiPrmBBsVhMoTRRMa22QYPYS7vq |
ASTyfSima4LLAdDgoFGkgqoKowG1LZFDr9fAQrg7iaJZ |
154591.958697309 | 1.71932611 |
DAoEhfAknxJxdfpf6v6y8dUFYcuWbGbuYqdzMsMpVREP |
GH6H9mqZF2BixW8qftjGmc4NWSSm11XgsU5qitXoPvWp |
150201.876562285 | 1.67050091 |
BftRsHLEthwLEdtriX8EXbx62dPkwguLYgxBas2i64T9 |
6iwFhCTQk5mmUzpDiQWGhTafkskeyAm62RqCF9SdtMqq |
149999.999999354 | 1.66825570 |
4KaXbQe6auWzGPYDedrDEysBDCsHaKUGNfSwstWRkxbR |
ozvBVK4FWvbVr6eU8JAXgARAysiJZDPnEWH7Mn4Rqod |
134645.372867458 | 1.49748607 |
A8pjNhJhGo7zJ5W57jeXomGk7rLvJRtmHhNjjf5FLDeJ |
9gmEoz2ze6y2eMJYcFeJWkY6tYn4DquRwffEMJmfUTGX |
129604.681897790 | 1.44142500 |
E3W75uK76FxAvWxKXiCgHbDCMWm9Megr4pTco83Vn4oM |
6JW3JdvTPMuFLRwE6Xry6By1sERCYbTMoRKMRcRyZtPe |
111243.817520078 | 1.23722089 |
8CQEoVgep3e1d1VqatuYr77Y4mgHJ93KewmYYc8iW4Un |
7pp4D2gntAL7cseG4odx8EH2eTsdRGGc5wg5ZpXBTY19 |
100000.000000000 | 1.11217047 |
HyDsKVCrYUzvX3Q8i7DqgZvQsStbcAWwbpNwkamR4GnZ |
A77HErqtfN1hLLpvZ9pCtu66FEtM8BveoaKbbMoZ4RiR |
99886.030721610 | 1.11090294 |
8yMAPUfHhpFzLhCdjbsPuBdECZ8T9fEG8dQBTFc31BQt |
u6PJ8DtQuPFnfmwHbGFULQ4u4EgjDiyYKjVEsynXq2w |
92165.319196438 | 1.02503546 |
Excluded pool vaults
Only token vaults matched by the report's market mint and liquidity-account fields are excluded. No burn account appears among the supplied largest-holder accounts. All other accounts remain unlabelled. The denominator stays total token supply; it is not reduced by excluded balances.
| Excluded CHAT token account | Corresponding pool | Reason |
|---|---|---|
FKCCPsYDgEoVpEhyE2XMFAXq5zWFrWHgpQjVEKQk1C54 |
9kLGUEFwEuFzn9txDfGJ3FimGp9LjMtNPp4GvMLfkZSY |
Rugcheck market mint/vault match |
HrusUjkw7ySCMv2bYaXPuSsbGBDbW7uFBQoXKBRtXPxB |
Amp5w7ghC1JP7nnnK3sXWh7SHjazgmnvKaXTX4GnPdZh |
Rugcheck market mint/vault match |
7CUSFXWg9M5NH2zgmzDQAzshFc9gug6xnJxAy93MQWVY |
Fboy3ASw84hkxqwck3j3RBkkFcD9n1RQ6g6DxtzXEYFC |
Rugcheck market mint/vault match |
8XKHRxSUTrspSiNvRBp83wBXjQzzyMqAV8nwL8HimhsU |
F3RnGgapY1Lnp2Ej1AAbXa3XSK4SJerJHZ6EuDh1v92E |
Rugcheck market mint/vault match |
FezvQi1nTKH9Ukjd76CQoowSfFqvXvqGfcqsjdPh91cx |
Ez6Ek3vvQWyPN5B75S2kpCQ3SsUXPQx4JjEPn87gJox3 |
Rugcheck market mint/vault match |
ARPSaRGpt9bkVASH62yAjNJ61fJBqmWrbJHfsMngD6km |
tvjfizjAPsKv1qC1EPWfZUqBD2evGSUwGPdUsEGidUP |
Rugcheck market mint/vault match |
AFJoyj1CKXqnbaxhmHNA5pbV9XUgJgPkcWBYT4tAHu96 |
2qZspPDNGSrLYuZaG8wtj32zvs6QYYj9sBpT4phE17tF |
Rugcheck market mint/vault match |
9QwfzQoNcESDbfF6RKzYdE3Q5wbF78ptLNwSrC5HZj3b |
2M9XFq8eBZvG1UtrDhf1KhSKuLSkM4nKk8z4TVTFXRNM |
Rugcheck market mint/vault match |
9WYgNKdM6gizvr8sHyuNFAR3DiSoWZ8BPJaXaDi3Egx1 |
9GaXqVg7mGZRG2WFhkoRY6buu9qnz5v91U4LHctQZaWS |
Rugcheck market mint/vault match |
8naNgPbF7hfF5UZ6EJjnsuR81TpgnkwWBGZiQdVaUp1p |
DCuVAixyLkvgyLCNp1zkgDVGmZRorf7gkg2yqqfbGbYX |
Rugcheck market mint/vault match |
83Xw2iQi4Y9cUvYz7tTfXHnWwpb9WZBunPnBrQ8TmWbF |
9tiighFpLdEhJk8XEpB579vKbL85ZJ6vKYoUeG6sdV4y |
Rugcheck market mint/vault match |
341EmBBByZDUVAGwAr4EEjkJ3t7K2z8mmfMP1qT4kyB2 |
4TU989d2VtQjRCsUqMMM6T3633mqjvmzLqeknmPjdCvH |
Rugcheck market mint/vault match |
FZF1q7yR4Pu168wVM16QczoH1BNkaJb4iCzS8mhTaL6N |
8GTEJCTVLG4prWewJwKiWs1JHCQYQgRoNJuH4nSZ3LJx |
Rugcheck market mint/vault match |
H9kAAUfXGPjA9XtrcKMPvYowdPXV3QuuqqZegNNazgHU |
61ygSjm2re1G8tpk3e4ThZEm4YR7dQU6C5K2g4WXFaGw |
Rugcheck market mint/vault match |
EDAUWD3UyyC5R2FyWz27XcZk8xHTHB1P2p8SAQSmC7y2 |
ArVHDPyD52FfSRX1U2PdYYTJYXvigBebnh5PR6BWM6MA |
Rugcheck market mint/vault match |
PCnMLGakQyGCnfYaHG7wDNqFkFSwvVJMkuWrgxwBiqJ |
FoCrVmdBxchQgnVcTxVDuBmVaZYyngNeLEKLXnb1uQWr |
Rugcheck market mint/vault match |
9oXsLYTT8UJ5Tcs28tvAeTo9KsP1iDeBQ5MaqT3MGzbk |
2in95SfKTn5bWXFxKH2GxkYGUJQFXgEmDa2xbJtEpGCk |
Rugcheck market mint/vault match |
DceUer2cNuDQ3VwA9Fw2GxmJqYeJdaaMNe8nqKcWci4f |
XfcLjpPHkat5VPGxNsahby7RhSELq6hBsEsL9xQDoSS |
Rugcheck market mint/vault match |
CP9D8Feh9EVvhnL3Hb5Dih5hhhA7PKPAFf9czt5S4NQe |
ELbb9zEzCwjugiVZsrKiDoPN6Cah7XLgDWupD8d9PcRu |
Rugcheck market mint/vault match |
8ZnjWKeEU9KhdmbgeZKs42tDwLMEdH7ECVamRi3jMLfS |
9UHykKQhaXKHekCqAozuCBDsNaYdmDYZhhwiu4UoMeYi |
Rugcheck market mint/vault match |
9XL7j8o8XXyci7d3hJStSBMiAVTd1n3DdWZUJfXgjQ77 |
6hKhvYoNf67nftegCm85PWwr6Pt8sBrxK7RUCvigFmcH |
Rugcheck market mint/vault match |
DbVCzWFzoDHTgeXMYa1QD838wrQSHReBfYGi7b41tuTJ |
3oU6tK6mWvAuJbJEaQivykb5GHQ8vyGcxzYccXPujwcF |
Rugcheck market mint/vault match |
37KJacGFWJXoBh4xeuAJfnybUiC6jiZz9p56xPZpZ2iM |
9X3eRtB913DhtoDXAJqjM9NXQkpTtoDeUN7rokkahHDc |
Rugcheck market mint/vault match |
ER6jrFzrHG6Hg3yBWnbN44mSaf3euLGjh659K8ACSBMt |
DbpVnDKjagC51h3bgDRy3LobjPHPBxc8JcVB2e9jGfzW |
Rugcheck market mint/vault match |
EvF8AXpMWudmMPjpNCzFPmju5AR9Q55y84osDkj79WBp |
8bbQUarB1LjwouebyMj7AcgNKSVmkA8BcDRHWd6zVbF5 |
Rugcheck market mint/vault match |
J4wRVftrR1zBJxcAE1YPUqNKXjG4ejTLewgmDXbLyBYM |
FqRHkYRpoEH5tiJuEPAVB3AyM2GqhhcpyPokpYLAbKDA |
Rugcheck market mint/vault match |
KKcRH8sspBqSJfP1iHE7Jm1gyZcwC1zNoNLpmhzgxwn |
89yWSGPiuLM8JmsH4sxGz3QzCzkXTohBEp3xh4YyeRhg |
Rugcheck market mint/vault match |
GEEauktowg1bcvvW9XEJ5Rz8gaq5y8cJXhJYJ5PVkxNK |
A7MQzKCA9HCWH6DNdssc9neyu6TVweMEt1MqLjq4YzFs |
Rugcheck market mint/vault match |
89yZxTdVvJMf1Gb95nq7UQdEcstpfrjacSCjbfB8e63M |
AZg8KUtP9hrXpS6dsyw3x2UnVZVzcHzt9rb5tb8uQAvt |
Rugcheck market mint/vault match |
DbmtWT67Wm4TifevPP9FQPAhmKrimxvyk1rravxujiEa |
FVY1Nw74E7CokurFsgKV4EPBy1TvPQ3iRpyfzV3dnmx |
Rugcheck market mint/vault match |
Source references and limitations
- DexScreener token pools API: saved response and unique-pool arithmetic supplied with Taskmarket delivery.
-
Rugcheck JSON: supply, authorities, top token accounts, matched vaults and per-pool lock fields. Main-pool LP mint
3WjsBgMSUnkyaQP2xUisDXc8WiGaUccXJMKrvXfPr2TJ; lock expiry and named custodian not established. Orca concentrated liquidity cannot be described as permanently burned from an aggregate field. - Mycelium allocations: checked after live figures loaded; CHAT absent. Proposals above do not imply endorsement.
- Synesis One official final update: dated March 2, 2026, operational wind-down; no token replacement or price thesis assumed.
- SendAI and Solana Agent Kit: project identity checked; no unverified ticker substituted for an official mint.
- Official image assets: Solchat application logo delivered from
https://www.solchat.app/_next/static/media/solchatMobileLogo.a28ae2ac.png, and MYC logo. Original graphic above compares the observed turnover with the task threshold; it is not an official announcement.
Discuss these findings and the Mycelium Strategy: https://discord.gg/5M7FsQcGq
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