For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the:

• (a) full names,
• (b) official titles,
• (c) and prior experience of key team members.

For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.

Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so for each sub question. Even if there is no DAO, there must be an answer to (d). Address the lettered items below.

• (a) IP ownership & control — State what IP the DAO owns or controls (e.g., codebases/repos, trademarks/brands). Note any license if relevant.
• (b) Contract/admin powers — List on-chain or administrative authorities and limits: pause/upgrade roles (e.g., multisig pause), governance-executor authorities, and the method of authority for each (e.g., veto, majority, super-majority).
• (c) Locked-token rights (conditional) — If locking/staking for additional rights exists, explain the additional rights and what tokenholders can and cannot decide. If no locking mechanism exists, leave absent.
• (d) Current tokenholder governance rights and economic arrangements — If any, describe the current governance rights of tokenholders and any presently operative rights or arrangements relating to treasury actions, fee-routing, rewards, buybacks, or other protocol-controlled resources. If none, state that explicitly.
• (e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
• (f) Dissolution authority — State who can dissolve/wind up the DAO and by what mechanism (e.g., on-chain vote threshold, board resolution of a legal wrapper).

For the Primary Foundation do the following independently. If a Foundation does not exist, state so for each sub question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist.

Definition: The primary Foundation can be explained as the entity which is directly involved in the issuance of the native token at launch.

• (a) Entity — Type and jurisdiction.
• (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
• (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
• (d) Powers over DevCo — Explain whether the foundation can exert direct or indirect influence over decision-making of the DevCo.
• (e) Contract/admin powers — Pause/upgrade/governance-executor authorities, and the method/threshold for each (e.g., veto/majority/super-majority).
• (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly.

For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly across each sub-question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist.

Definition: The primary DevCo can be explained as the entity which is directly involved in the issuance of the native token at launch.

• (a) Entity — Type and jurisdiction.
• (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
• (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
• (d) Powers over Foundation — Explain whether the DevCo can exert direct or indirect influence over decision-making of the Foundation.
• (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each (e.g., veto/majority/super-majority; "3/5 multisig").
• (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly. Do not discuss hypothetical future dividends, repurchases, or distributions unless formally adopted.

State the project's airdrop status plainly, and back it up:

• Never conducted and none planned for TGE: state so plainly.
• Planned but not yet executed: state the target user segments (e.g., "stakers of X," "Aave users") and the allocation method (e.g., proportional to balance or net position), and commit to publishing a recipient wallet list in a public channel and providing it to Blockworks quarterly until the initial TGE airdrop is fully completed.
• Already executed: state the covered user segments and the allocation method, and point to a per-address source such as CSV/TSV/JSON files, a Dune table, a full Merkle dump, GitHub repo files embedding per-address allocations, or RPC endpoints that expose claim/amount data; explorer links alone do not count.

Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly.

For each market maker, include in a table:

• (a) Market maker's name — the market maker's name;
• (b) Token allocation or loaned amount — the token allocation or loaned amount as a percentage of total supply;
• (c) Duration/term of agreement — the duration/term of the agreement; and, where applicable,
• (d) Name of agreement structure — label the financial vehicle being used in the agreement (i.e. loan, option/call, retainer model).

If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for (b).

Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity.

For each listing, include in a table:

• (a) Exchange name / DEX pool — the exchange name (and, for DEX, the specific pool/pair);
• (b) Token allocation for listing — the token allocation supplied or committed for listing as a percentage of total supply;
• (c) Term Duration — the duration/term of any listing lockups, liquidity, or incentive programs; and, where applicable,
• (d) Native-token listing fees — whether any listing fees were paid in native tokens, with amounts (tokens or % of supply), recipients, and any vesting or lock terms tied to the partnership.

If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.

Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales.

For each sale, provide:

• (a) Series Name;
• (b) Early-Stage Investment Instrument used (i.e. SAFT, STAMP, SAFE, SAFE+Token Warrant, etc.);
• (c) Date of sale (at least month & year);
• (d) Number of tokens sold (or % of total supply);
• (e) Vesting schedule.

If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").

If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself.

If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").

• (a) Date & component affected — Date (YYYY-MM or YYYY-MM-DD), chain(s)/component affected.
• (b) Exploit vector summary — Plain-language summary of the exploit vector (what the hack was).
• (c) Quantified impact — Quantified impact (assets/tokens affected or a clear "no loss of funds" statement).
• (d) Remediation/response taken — Remediation/response taken (patches, upgrades, governance actions, compensation).
• (e) Current status — Current status (resolved, in litigation, under investigation, refunded, etc.).
• (f) References — Link(s) to post-mortem/advisory/PR.

Describe material risk factors across the three categories below. Each category includes prompts to address at a minimum.

• (a) Regulatory, Legal & Tax Risks — Describe how evolving laws and regulations could affect the project by answering, at a minimum, questions like:

• Impact of Regulatory Change on TGE and Listings: (If applicable) How could evolving or conflicting laws and regulations affect your ability to complete the TGE, deliver tokens to purchasers, and list or maintain the token on trading venues in key jurisdictions?

• Entity-Level Regulatory Impact: (If applicable) How could regulatory or legal changes impact your core entities (Foundation, DevCo, DAO, affiliated service providers), including enforcement actions, licensing requirements, or forced changes to structure or operations?

• Tokenholder Tax Treatment: (If applicable) What uncertainties exist around how tokenholders may be taxed, and make clear that tokenholders are responsible for understanding their own tax obligations?

• Jurisdictional & User Access Restrictions: (If applicable) If the project restricts access for certain jurisdictions or user types (e.g., U.S. persons, sanctioned countries, retail vs. professional), what are those restrictions and what risks do they create for users and for the project?

• (b) Protocol, Technology & Security Risks — Describe risks to network and contract reliability, correctness, and safety by answering, at a minimum, questions like:

• Bugs and Design Flaws: (If applicable) What bugs, design flaws, or implementation errors could exist in your core protocol code, smart contracts, and any bridges, rollups, or oracles that you depend on, and how could these lead to loss of funds or disruption of the protocol?

• Security Measures & Their Limitations: (If applicable) What security measures have you taken (audits, formal verification, bug bounties), and what types of failures might these measures still fail to detect or prevent?

• (c) Token Economics, Unlocks & Incentive Risks — Describe how the token's economic design and supply schedule could affect holders by answering, at a minimum, questions like:

• Critical Economic Assumptions: (If applicable) Which economic assumptions (e.g., staking yields, fee revenue, liquidity incentives, MEV capture, demand for blockspace) are critical for protocol security, utility, and governance, and what happens if those assumptions fail?

Identify to the best of your ability the token's current deployments across chains, including project-issued deployments, project-endorsed representations, and, if possible, documented third-party wrapped or bridged representations.

For each entry, provide:

• Token Contract Address or Chain-Specific Asset Identifier
• Chain
• Deployment Type: Protocol-level asset / Direct token issuance / Wrapped or bridged representation
• Project Relationship: Native-token / Project-endorsed / Endorsed third-party / Third-party, endorsement not established / Explicitly unsupported
• Supporting Source: Link to supporting source

Multiple entries on the same chain are permitted.

Definition: A protocol-level asset is an asset whose balances and transfers are handled directly by the blockchain's core rules, rather than by a token smart contract. For protocol-level assets without a token contract address, enter "No contract address" and identify the asset and chain.