Key Takeaways

• Novora found 91% of 150+ crypto protocols generate revenue, but disclosure remains limited.
• liquidity.
• Only 9% adopt 2025 transparency frameworks, signaling the need for better investor reporting.

Crypto Protocol Transparency Lags Despite Growing Revenue Data

Most cryptocurrency protocols are generating measurable revenue, yet few provide the level of transparency expected in traditional financial markets, according to new research from Novora.

The study, which reviewed more than 150 projects across sectors including decentralized exchanges, lending platforms, and blockchain infrastructure, found that 91% of protocols have traceable revenue. However, only a small fraction presents that data in a way that is accessible…