Robert Burkhart

24/7 Equity Perpetuals DAS NYC Keynote Hyperliquid TradeXYZ

Binance has released market maker guidelines, requiring token issuers to promptly disclose market maker information to the platform; profit-sharing and guaranteed return arrangements are prohibited; token lending agreements must clearly specify token usage. Binance said it will take swift and decisive action against any violations, including blacklisting non-compliant market makers.

The TTF was brought up in nearly every conversation I had at DAS. As a reminder, the TTF is a standardized, open-source disclosure framework for token issuers. Since launch, we've rated 32 tokens. Teams come to us and submit across 18 criteria (disclosures, token supply, market structure, team, etc). Then we score them and make that public alongside a report. This 32 number now feels WAY too low. For crypto to mature, we need to massively accelerate this. I think this means going on the offensive and proactively scoring teams even when they don't want us to. This will lead to a lot of angry teams at Blockworks but also better tokens. Still figuring out exactly how to do this but probably a worthwhile tradeoff. More soon.

1/ Today, we are launching Blockworks Investor Relations for onchain businesses. We are rethinking how companies communicate with investors from the ground up.

The secret is out, the token and the business are not always the same thing. The Token Transparency Filings (TTF) are for projects aligning their token with the success of their business. Enter the NEW B1 ICO Filing.

The secret is out, the token and the business are not always the same thing. The Token Transparency Filings (TTF) are for projects aligning their token with the success of their business. Enter the NEW B1 ICO Filing.

Continue to believe that disclosure across token markets remains one of the primary inhibitors for serious capital in liquid crypto markets That's why the transparency filings from Blockworks below are a meaningful step in the right direction for our space. Clarity on token allocations, from listing fees (e.g. Binance at 0.54% on $MET) to market-making agreements, and entity structuring lifts the veil on supply dynamics + value accrual and gives both individuals and funds the information required to begin to properly underwrite risk and make material investment decisions We're not investors, but the Blockworks team deserves real credit for pulling it together (especially given how opaque this part of the market has been) There’s still a long way to go (insider sales being one of the obvious gaps) and a coordination / participation issue to address, but better disclosure will structurally improve liquidity, price discovery, and trust over time. Really encouraging to see tangible progress despite the broader backdrop