Project Research Dossier: Rabby Wallet (pre-TGE)

Picking Rabby: live points program, no token yet, so a good test of what's verifiable vs airdrop hype.

What it is. Open-source EVM wallet (extension + mobile) by the DeBank team, main pitch is pre-sign tx simulation and risk scanning. Code: https://github.com/RabbyHub/Rabby (~4.3k commits, 1.9k stars, Sep 29 2026).

Funding (verifiable). No public raise or ICO for Rabby. Parent DeBank raised a $25M equity round in Dec 2021 led by Sequoia China: https://www.coindesk.com/business/2021/12/28/defi-portfolio-tracking-firm-debank-raises-25m-in-round-led-by-sequoia-china . Equity in DeBank, not a token round.

Tokenomics / unlock / dilution. Nothing published: no supply, allocation, vesting or emissions, so FDV vs circulating can't be modeled. Rabby Points (https://rabby.io/points) reward usage, but no official line says points convert to a token. If one comes, check the split between DeBank equity holders/team and users first.

Team / security. Maintained by DeBank. Audits live in the repo by year, latest is a SlowMist extension audit dated 2026-08-24: https://github.com/RabbyHub/Rabby/tree/develop/audits/2026 . An audit covers one version, not a guarantee.

Key risks. (1) No token commitment, so points value is speculation. (2) Security is the product, one bad update = user losses. (3) Insider share could be big if a token launches since equity holders are already in. (4) Competition from MetaMask and other wallets with points or tokens.

Disclosure: I use Rabby. No token position (none exists), not affiliated, no incentive besides this Republic quest. NFA.