Appendix E

Due Diligence — A Pre-Investment Checklist

This page presents a selection of 19 questions across seven categories, drawn from the full 47-question, eight-category checklist in Appendix E of Michele Stefanelli's book — a pre-investment framework for assessing Bitcoin Hyper / $HYPER.

⚠ Mandatory disclaimer

The content published on bitcoinhyper.uk is provided for informational and educational purposes only. It does not constitute financial, investment, tax or legal advice, nor an offer of financial products or a solicitation of public savings. Crypto-assets are high-risk instruments, subject to significant volatility and to the possible total loss of the capital invested. Readers are encouraged to carry out their own independent research and, where appropriate, to consult an authorised adviser. The author may hold positions in the projects mentioned; any such disclosure is provided on the dedicated page.

The 30% heuristic threshold

Under the indicative criterion proposed by the author, a share of weak signals above 30% is grounds for closer scrutiny and heightened caution. Above 50%, the outcome indicates that a material number of questions must be clarified before the assessment can be regarded as favourable. This threshold is a heuristic tool: it is not an investment recommendation and does not substitute for individual analysis.

👥

Team

1. Is the team publicly identified?

✓ Credible answer

Verifiable identities, LinkedIn profiles consistent with the stated roles, and a prior track record in the blockchain sector

✗ Weak signal

An anonymous team with no established pseudonymous reputation, or profiles created only recently

2. Do they have prior experience on relevant projects?

✓ Credible answer

Verifiable contributions to blockchain, academic or well-established corporate projects

✗ Weak signal

Claims without supporting evidence. No verifiable prior projects

3. Is the project's legal structure disclosed?

✓ Credible answer

A registered legal entity with a clear jurisdiction. Formal contact details available

✗ Weak signal

Operations entirely offshore with no explanation. No identifiable legal entity

⚙️

Technology

1. Have the security audits been published?

✓ Credible answer

Full audits by recognised cybersecurity and blockchain/Web3 auditing firms (Trail of Bits, Certik, Halborn). Downloadable reports, not just badges

✗ Weak signal

“Audits under way” with no concrete timeframe, or a badge with no link to a report. → Status as of 28/04/2026: two public reports have been identified, limited to the ERC-20 contract for $HYPER, whereas no public security-audit report exists for the Layer 2 or bridge protocols.

2. Does the canonical bridge have a working forced exit?

✓ Credible answer

A forced-exit mechanism that has been tested and audited. Users can withdraw their funds even without the team's cooperation

✗ Weak signal

No forced-exit mechanism implemented. Opaque custody. → Status as of 28/04/2026: under development

3. Is data availability solved?

✓ Credible answer

A defined, documented technical solution. Data accessible to anyone, independently of the sequencer

✗ Weak signal

“Still under study.” Were the data to remain solely under the sequencer's control, the structure would resemble a Validium-type model more than a rollup with public data availability. → Status as of 28/04/2026: the definitive solution is still under study.

4. Is the source code public?

✓ Credible answer

A public GitHub repository with a verifiable commit history. Ongoing development activity

✗ Weak signal

Closed-source code. No public repository

📊

Tokenomics

1. Is the token distribution transparent?

✓ Credible answer

A detailed public allocation. A vesting schedule for every category. Team wallets verifiable on-chain

✗ Weak signal

A vague allocation. No published schedule for each category. → As of 28/04/2026: the Treasury/Dev schedule is not detailed

2. Is the presale vesting adequate?

✓ Credible answer

A vesting period of at least 12–24 months for a strategic presale, with an initial cliff

✗ Weak signal

→ Based on the published terms, the $HYPER presale vesting is 7 days. Such a short period may heighten the risk of sell pressure following the TGE.

3. Is there a credible value-capture mechanism?

✓ Credible answer

Transaction fees paid in $HYPER, staking yield tied to real revenue, and transparent buybacks/burns

✗ Weak signal

Vague utility. A governance-only token with no revenue. Mechanism unspecified

🗺️

Roadmap

1. Do the milestones have explicit dependencies?

✓ Credible answer

Each milestone spells out what must happen first. Technical dependencies are stated. Dates carry realistic margins

✗ Weak signal

Generic dates (for example a “Q4 2025” that has already passed with no explanation). Vague milestones with no completion criteria

2. Is there a plan for handling delays?

✓ Credible answer

Proactive communication about delays. A regularly updated roadmap. Credible technical justifications

✗ Weak signal

Silence on missed deadlines. Dates that slip without any communication

⚖️

Regulatory

1. Has $HYPER been assessed against MiCA and the SEC framework?

✓ Credible answer

A published legal opinion. A clear classification (utility token vs security). MiCA compliance for the EU

✗ Weak signal

No mention of the regulatory framework. No public legal opinions

2. Are KYC/AML measures implemented where required?

✓ Credible answer

KYC procedures for institutional onboarding. A documented AML policy

✗ Weak signal

Anonymous access to every service, with no regard for regulatory requirements

🌐

Ecosystem

1. Are there working applications on the devnet/testnet?

✓ Credible answer

Verifiable dApps, not just announcements. Third-party developers with public code. Measurable TVL on the testnet

✗ Weak signal

Partnership announcements only. No public code from third-party applications

2. Is the developer community active?

✓ Credible answer

An active technical forum, responses to bug reports, up-to-date documentation, and hackathons

✗ Weak signal

A purely speculative community. No technical activity. A Discord full of “when moon”

🧠

Personal risks

1. Can you afford to lose the entire investment?

✓ Credible answer

Your $HYPER position stays within an amount you could lose entirely without affecting your standard of living

✗ Weak signal

You are investing money you cannot afford to lose, on the basis of expectations of a quick return

2. What is your investment horizon?

✓ Credible answer

A multi-year horizon, matching the project's early stage and the possibility of delays, without assuming that the roadmap's targets will necessarily be met.

✗ Weak signal

A horizon of a few months, relying solely on speculative expectations, calls for a different kind of analysis and the ability to withstand substantial losses.

3. Are you deciding rationally, or driven by FOMO?

✓ Credible answer

The decision rests on an understanding of the project, its specific risks and its open questions.

✗ Weak signal

The decision rests mainly on messages such as “everyone is talking about it”, “the price is going up” or “I might miss out”.