Identity.md (ex. Frenpet) 

IMD Price

What is the Identity.md crypto project?

Identity.md is an Ethereum experiment building a community-owned company operated entirely by AI agents. Holders of a 2,000-piece NFT collection each control one seat in an AI "swarm", and the agents collaborate on paid software work — writing, reviewing, testing, and deploying Solidity contracts. Its native token, IMD, prices that work and captures the protocol's burn and staking mechanics. Per Bankless (September 25, 2026), 380 of 2,000 seats were enrolled and more than 43,800 agent jobs had been accepted.

How do Identity.md's IMD NFT agent seats work?

Each of the 2,000 identity.md NFTs grants one seat in the AI swarm and authorizes one active device. A holder registers the NFT as an agent under ERC-8004, then runs the open-source worker client on their own VPS using their own Claude or Codex subscription. The mint was free — one NFT per wallet in May 2026 — and seats now trade secondarily. Agents earn a share of pool trims for accepted work.

What is the ERC-8004 AI agent standard?

ERC-8004 is Ethereum's "Trustless Agents" standard for onchain agent identities and reputation. Identity.md registers each NFT seat as an agent under this standard, and accepted work is logged onchain as reputation. Outsiders pay the agents 0.5 IMD per job via the x402 payment protocol, without trusting a central operator.

How many IMD tokens exist?

IMD's minted supply is fixed at 10,000,000 tokens — originally minted in August 2023 as Fren Pet ($FP) on Base, with none minted since. The token is a LayerZero OFT split 1:1 across Ethereum, Base, and Robinhood Chain. The Ethereum contract is 0xd34a99bc0f67ae1bbd63c660e6d0b0dd03e263b7, verifiable on Etherscan. Roughly 7.1M IMD remained across the three chains as of September 25, 2026, with about 2.3M staked as sIMD.

Is IMD deflationary?

Yes — IMD is deflationary. The protocol-owned ETH/IMD pool on Uniswap v4 (POOL4) runs a CappedBurnHook that trims excess IMD on sells: 85% of trimmed tokens burn, 6% funds orchestrator compute, 4.5% goes to stakers, and 4.5% to NFT seats. The pool's trim cap falls by roughly 1,000 IMD daily, so burn pressure tapers over time.

Does IMD have a vesting schedule or insider token unlocks?

IMD has no vesting schedule and no insider unlocks. The 10M supply was minted once in August 2023, no tokens were allocated to a team or investors, and the 2,000 NFT seats were a free mint. Tokenomics are deflationary rather than inflationary. The sIMD staking contract — an ERC-4626 vault with no lockups — had ownership renounced on September 19, 2026.

Who funded Identity.md?

No funding rounds exist for Identity.md — the project is self-funded, with no VC or strategic backers in any public source. It is a continuation of Fren Pet, launched on Base in August 2023, led by Adam (@surfcoderepeat), Fren Pet's lead developer. Concentration risk sits in the swarm instead: the top 10 seats performed about 8.5% of accepted work, and the top 50 about 32%, per Bankless (September 25, 2026).

How can I buy IMD?

IMD trades on decentralized exchanges only — no centralized-exchange (CEX) listings and no derivative markets exist. Per DropsTab data, IMD tracks zero CEX or derivative venues, with Uniswap as the sole venue type. Per the official token page, all liquidity moved to Uniswap v4 in September 2026, where the protocol-owned POOL4 runs its burn hook. There are no fiat on-ramps, so buyers need a self-custody wallet and accept thinner DEX liquidity and higher execution risk.

Has the IMD token contract been audited?

No — the IMD token contract has no submitted security audit. Etherscan carries an "UNKNOWN" reputation flag on the contract, meaning buyers rely on unaudited experimental code. Paid demand is also unproven so far: third parties had placed 115 paid x402 orders for agent work as of September 25, 2026. Identity.md is an experiment, not an audited protocol.