Aragon Launches Verifiable Framework to Evaluate Crypto Tokens on Fundamentals

Aragon has launched a new framework and public dashboard designed to help users assess what rights a crypto token actually grants its holders, as ongoing questions persist across the industry around token utility, governance power and whether value flows are real or merely implied.

The release includes the Ownership Token Framework and a companion product, the Ownership Token Dashboard, which publishes structured ownership profiles for selected tokens. At launch, the dashboard features profiles for Uniswap (UNI), Curve (CRV), Lido (LDO), Aerodrome (AERO) and Aave (AAVE). Aragon said additional tokens will be added on a rolling basis.

The initiative targets a recurring issue in crypto markets: many tokens trade on narratives about ownership, control or future fee capture without a consistent way to verify whether those rights are actually implemented in deployed systems.

Aragon CEO Anthony Leutenegger said.

A push for measurable standards

Aragon said the framework is intended to provide a common reference point for evaluating token fundamentals using verifiable onchain and offchain evidence, rather than assumptions or marketing claims.

The company cited a CoinGecko study that found 11.6 million tokens failed in 2025, representing roughly 86% of recorded token failures between 2021 and 2025. While token failures can stem from a range of factors — including liquidity conditions, market structure and speculative launches — Aragon said the figure highlights the need for clearer tools to distinguish between tokens with enforceable rights and those that depend largely on expectations.

The framework focuses narrowly on whether tokenholder rights are implemented and provable, rather than on market performance or popularity.

What the framework evaluates

According to Aragon, the Ownership Token Framework assesses tokens across four core categories including onchain control, value accrual, verifiability, and token distribution.

The framework also highlights offchain dependencies such as governance processes, upgrade authorities or operational structures outside smart contracts — that could introduce incentives misaligned with tokenholder interests.

Aragon said the goal is not to “grade” projects, but to document control and value mechanics in a structured, evidence-based format.

Dashboard links assessments to evidence

The Ownership Token Dashboard applies the framework by presenting token profiles backed by continuously updated onchain and offchain data. Each profile links to supporting evidence, including deployed smart contracts, governance execution paths, value routing mechanisms and relevant offchain structures.

Aragon said the initial set of profiles was developed with input from the protocol teams featured on the dashboard. While the approach aims to reduce third-party guesswork, the accuracy of profiles will still depend on how frequently they are updated as protocols change contracts, permissions or governance processes.

Aragon said the framework and dashboard were reviewed by governance, legal and policy experts focused on onchain systems and digital asset structures, particularly to assess how ownership and control function after token launches.

Miles Jennings, general counsel at a16z crypto, said the framework helps clarify who retains power post-launch and what risks may arise from “hidden dependencies.”

Not an investment advice

Aragon emphasized that the framework and dashboard do not constitute legal, financial or investment advice.

Even with improved disclosure, tokenholders still face persistent risks, including concentrated onchain control, low governance participation, smart contract vulnerabilities and valuations disconnected from value accrual mechanisms. Regulatory scrutiny also continues to shape how tokens are issued and marketed across jurisdictions.

The framework’s focus, Aragon said, is strictly on whether rights and value mechanisms exist and can be verified, not on whether a token represents a good or bad investment.

What comes next?

The launch comes as crypto markets mature and calls grow louder for clearer standards around token design and disclosure. If widely adopted, the framework could influence how teams communicate tokenholder rights and how analysts and researchers compare tokens beyond price performance.

For now, Aragon’s dashboard covers five large DeFi tokens. Whether it evolves into a broader industry reference point may depend on how consistently it is maintained, how widely it expands and whether market participants come to treat “verifiable ownership” as a baseline expectation rather than a niche analytical lens.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.