PANews reported on April 16th that Novora , an IR infrastructure service provider, released a study titled " IR & Token Transparency in 2026 ," assessing the disclosure and transparency performance of over 150 crypto protocols. The report shows that approximately 91% of protocols generate traceable revenue, but only 18% regularly publish quarterly updates, 8% publish token holder reports, and less than 1% disclose market maker agreement terms. About 38% of protocols employ proactive value capture mechanisms, and the overall adoption rate of the Token Transparency Framework ( TTF ) is approximately 9% . Of the 13 projects that have submitted applications, 6 are within the Solana ecosystem. The report indicates that DeFi , especially Perps and DEXs, are leading in information disclosure, while L1/L2 and infrastructure projects are significantly lagging behind.