The Standard · v1.0 · published July 2026
Nobody accepts a hallmark you stamped on your own gold.
A fund’s own memo is homework it graded itself. The moment an allocator or a diligence reviewer asks who checked this, “we did” stops working. That is the job of the desk.
This document is published and not yet in force. Under its own §0, no assessment may issue until every launch condition it sets for itself is met.
What is assessed
The same domains institutional diligence already runs.
Six of them, so an assessment reads natively to a committee rather than asking it to learn a private vocabulary first.
- Team and governance
- Identity verification, independent oversight, key-person concentration.
- Token economics
- Supply against fully diluted, vesting and unlock schedule, holder concentration.
- Liquidity
- Executable depth across venues — not screen price.
- Custody and control
- Who can move what, under which conditions, on which rails.
- Regulatory posture
- Classification, jurisdiction, disclosure quality.
- Operational controls
- Audits, proof-of-reserves, conflicts, documentation quality.
Verdicts
Three verdicts, and all three get used.
- Verified
- The claim was checked against evidence that is archived and re-checkable.
- Conditional
- The claim holds only under stated conditions, and the conditions are named.
- Declined to assess
- The evidence needed does not exist or was not provided. A standard that never declines is a logo.
Every assessment carries a serial, the standard version it was issued under, a date, and a name. None has been issued, so no serial exists yet.
Independence
Investors commission assessments. Subjects cannot buy one.
A subject the desk has advised waits six months before it can be assessed at all — and after that, never without an independent reviewer who did no part of the advisory work and who signs alongside the analyst. No staffing exception. Advisory working papers are quarantined from the assessment. Every assessment states who paid for it.
The guarantee is the separation, not the wait. A cooling-off period alone would still let one person advise, assess and sign — the exact arrangement this standard exists to refuse. Because that reviewer is not yet contracted, nothing can issue today.
Client work is never published. Public assessments cover launched subjects, on public information, so anyone can check whether the desk was right.
The road
The standard comes first. The mark comes when the record has earned it.
From then on, the desk publishes how often it says no.
Standard v1.0 · published July 2026 · changes are versioned with 30 days’ notice. Assessments are informational verification of disclosed information. They are not investment advice, an offer, a solicitation, or a credit rating.