The Land Is Real. The Holder Owns None of It
Our ISD audit: the token sits on $115.9m of Panamanian land, but holders have no right to it, no guaranteed payouts and no exit. 60 cents of every dollar never reach the project. Score 30 out of 100, CCC.
We help businesses turn tokens from one-time fundraising tools into working economic instruments. Tokens are embedded into products and operations, so usage and demand drive lasting value, not speculation.
A token should generate value for the project over its entire lifetime. And that only happens when you clearly understand why it exists and who needs it.
— 8Blocks Team
Our ISD audit: the token sits on $115.9m of Panamanian land, but holders have no right to it, no guaranteed payouts and no exit. 60 cents of every dollar never reach the project. Score 30 out of 100, CCC.
8Blocks audited HES, Hacken's tokenized equity: 37/100, grade CCC. The business is profitable, but the share register shows no token holders.
Kinetiq trades at a $125,7m market cap against a $398,0m FDV with 31,6% of supply circulating — a 3,2x FDV/mcap ratio, the 85th percentile for liquid staking. Holder revenue of $0,8m a year covers 0,3% of the supply still to come; buyers, not revenue, will absorb the unlocks.
We define the token's role and connect it directly to revenue and operations.