Blockworks Launches Token Transparency Framework for Cryptocurrency Industry
Blockworks, a prominent media and information platform, has introduced its innovative Token Transparency Framework with the aim of establishing fairer and more robust disclosure standards within the cryptocurrency sector.
Developed in collaboration with key industry partners, the Blockworks Token Transparency Framework seeks to enhance clarity in cryptocurrency markets and dispel misconceptions surrounding the risks associated with new cryptocurrencies and blockchain projects.
Notable industry projects such as Morpho, Stride, Jupiter, Jito, Raydium, and Aerodrome Finance have already thrown their support behind the Blockworks framework. The implementation of the framework is spearheaded by industry experts Louis Thomazeau of L1D, Felipe Montealegre of Theia, and Cosmo Jiang of Pantera Capital.
The primary focus of the framework revolves around enhancing transparency and disclosure practices in the cryptocurrency industry. Key areas of emphasis include token supply and allocation, project and team verification, financial disclosure, and market structure.
Ryan Connor, head of research at Blockworks, underscored the potential of the framework in fostering fairer cryptocurrency markets. He emphasized, “We believe disclosure and transparency are critical in establishing tokens as investable assets. By reducing information asymmetry in token markets, we can create fairer and more efficient markets for all stakeholders.”
Brian Smith, executive director of Jito Foundation, highlighted the significance of rigorous and uniform token disclosures for enabling investors to evaluate projects with confidence. He expressed confidence that the new framework will deliver “radical transparency” across the industry.
Unlike entities directly involved in trading, issuing, or investing in tokens, Blockworks maintains a neutral stance to minimize conflicts of interest. Alexander Cutler, a core contributor at Aerodrome, lauded the Token Transparency Framework as a pivotal step towards establishing fairer transparency standards. He emphasized that this initiative marks the beginning rather than the culmination of efforts to promote transparency and fairness in the industry.
The launch of the Token Transparency Framework by Blockworks signifies a collective commitment to driving positive change in the cryptocurrency space. By promoting transparency and accountability, the framework aims to instill investor confidence and pave the way for a more inclusive and equitable ecosystem.
(Image source: “I feel so, transparent” by Swamibu is licensed under CC BY-NC 2.0.)
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Tags: blockchain, blockworks, disclosure, transparency