Blockworks’ Token Transparency Framework introduces fact sheets to standardize tokenized asset disclosures

Crypto has a transparency problem, and it’s not exactly a secret. Token projects routinely launch with whitepapers that read like fever dreams, tokenomics that require a PhD to decode, and governance structures that exist somewhere between “trust us” and “good luck.” Blockworks is betting that a standardized disclosure framework can change that.

The Token Transparency Framework, or TTF, launched in June 2025 as an open-source standard for token disclosure. The core product: fact sheets that provide detailed offchain legal, governance, financial, and market structure information for each tokenized asset.

How the fact sheets actually work

The TTF organizes disclosures into two distinct filing types. The B-1 filing covers one-time disclosures, primarily designed around token generation events. Then there’s the B-2 filing, built for ongoing updates from more mature protocols.

The B-2 update rolling out in 2026 places particular emphasis on distinguishing organic growth from purchased growth by highlighting offchain financials.

Each filing receives a transparency score, measuring how complete and thorough the disclosures actually are. Initial scores in the TTF cohort exceeded 35, which serves as a benchmark for disclosure completeness across the filings processed so far.

By May 2026, more than 44 protocols had utilized the TTF for their disclosures. The target is to surpass 200 by year-end.

The Transparency Alliance and institutional buy-in

The Crypto Transparency Alliance was established in late May 2026 to support the TTF and push for broader adoption across the industry. The alliance comprises over 40 firms, including Coinbase and Kraken.

To lower the barrier to participation, Blockworks launched RapidFile in August 2026, a tool designed to automate the filing process.

Why this matters for the market

Historically, token markets have operated without standardized disclosure practices, compelling investors to sift through disparate bits of information related to supply schedules, insider holdings, market maker arrangements, and financial data. This lack of uniform reporting has hindered greater institutional participation in the crypto space.

The TTF ensures that offchain legal and economic contexts are readily available for tokenized assets, complementing existing onchain data while fostering self-regulatory and regulatory engagement, without establishing any predetermined legal classifications for tokens involved.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.