Is IoTeX legit?

Could you please elaborate on the legitimacy of IoTeX? There seems to be some buzz around this blockchain project, but with so many cryptocurrencies and tokens emerging, it's hard to determine authenticity. What are the key factors that determine if IoTeX is legitimate? Are there any regulatory frameworks it adheres to? How does its technology stack up against competitors? What about its team and community? Any insights you could provide would be greatly appreciated as I consider investing in this project.