Atheron (ATON) — Pre-TGE Research Dossier

Project Atheron is a pre-testnet Layer 1 combining PoW blockchain security with GPU-based AI compute. Official materials state there is no public/private token sale. Tokenomics Max supply: 15B ATON • Mining: 80% • Team: 10% — 12-month cliff, then linear vesting to month 48 • Treasury: 6% • Initial liquidity: 4% No official TGE price exists, so current FDV cannot be calculated. Official projections estimate ~2.88B ATON circulating after year one (~19.2% of max supply). Unlock & Dilution Main dilution comes from mining emissions, team vesting after month 12, treasury releases and initial liquidity. There are no disclosed VC/private-sale token unlocks. Team / Development Atheron Network Inc. is identified as the operating entity, but official materials provide limited verifiable founder history. The project remains pre-testnet and major protocol components are still under development. Key Risks • Pre-testnet / high execution risk • 16 components still require third-party audits before mainnet • Complex GPU mining + cross-VM architecture • No market-tested token valuation • Limited founder track-record disclosure • Initial founder multisig authority over selected critical components Conclusion Atheron has relatively transparent tokenomics and avoids private-sale investor unlocks, but remains an early-stage engineering project. Execution, security audits and team verification are currently the main diligence risks. Disclosure: No ATON holdings or compensation from Atheron.