Most tokens are not transparent. There's no standard for disclosure. Most protocols have multiple entities (Labs, DAO, Foundation, etc) and it's rarely clear how value flows between them.
We're building a framework for Token Rights at DefiLlama. Our goal is to clearly define what rights tokens confer to investors.
We want to show investors the most important things they need to know about tokens, so they can easily understand what they might be buying.
We have three core categories:
- Governance Rights (who controls what)
- Economic Rights (where does value accrue and how)
- Ownership Rights (who owns what)
Within these categories we track whether governance rights include treasury / revenue rights, buybacks, burns, main value accrual mechanism, fundraising structures, utility, and more.
The hard part: information is scattered, fundraises aren't clear, governance =/= ownership, and often downright conflicting information.
But it can be better. As token design & economics improve, we can provide more transparency through clear definitions and design to help investors understand exactly what a token does & doesn't do.
75 protocol token rights are currently live. To find them, look for the Token Rights tab on a protocol's page.
Projects can submit token information here:
docs.llama.fi/list-your-proj…