Woofun AI data shows that 75% of the total BMEX token supply, allocated for employee incentives, ecosystem development, and long-term reserves, was never circulated on-chain. In 2021, approximately 92% of the supply remained locked in vesting contracts, while only 8% was distributed at launch, comprising 5% for airdrops and 3% for product and liquidity support. By November 2, 2022, product and liquidity addresses received roughly 63.75 million BMEX tokens, yet no withdrawals occurred from addresses designated for incentives or reserves. Bubblemaps indicated this absence of distribution does not necessarily signal an issue, as the project may have adjusted its token economy model or distribution plans off-chain.