0/ The fourth cohort of the Token Transparency Framework is LIVE. Joining the initiative: - EtherFi - Fluid - Marinade - Wallet Connect - Horizen Each is raising the disclosure bar. Let’s unpack the material segments...

1/ The Token Transparency Framework is designed as a one-time filing that assesses 18 criteria across four key areas: - Project & Team - Financial Disclosure - Token Supply - Market Structure (including market maker transparency) Below are the interesting details from Cohort 4.

2/ @ether_fi scored a 38/40. Prominent disclosures included MM agreements, prior funding round raises and evaluations, and the total unvested tokens held by Post-TGE employee compensation plans.

3/ @0xfluid scored a 39/40. Important releases contained prior token sales, MM agreements, and labeling of internal operational wallets.

4/ @MarinadeFinance scored a 37/40. Notable items disclosed: all fees will be directed to the DAO treasury in the near future, prior OTC sales, and all internal operational wallets.

5/ @WalletConnect scored a 39/40. Major announcements comprised the portion of supply reserved for Post-TGE token compensation plans, MM agreements, and how the foundation, DAO, and DevCo operate in tandem.

6/ @horizenglobal scored a 37/40. Significant information included that zkVerify (a project related to Horizen) will have a TGE ($VFY) in September 2025, MM deals, and how Horizen's migration to Base affected the token supply.

7/ Find the full Token Transparency Frameworks for cohorts 1 through 4 here: