Methodology
The Process Behind Every Engagement
Every service we offer, whether it’s an audit, a new design, a simulation, or a tokenization structure, runs through the same underlying discipline.
Our process begins with compliance and economics to estimate how value is created, captured and sustained. From there we engineer the compliant infrastructure and carry it through to issuance of the asset.
The five steps
- 01
Discovery
Understand the product, the market, and what the token or tokenized asset actually needs to accomplish economically.
- 02
Modelling
Build the economic model as one coherent system rather than a set of disconnected decisions.
- 03
Stress testing
Test against real market conditions: Python-based stochastic simulation across volatility scenarios, adversarial testing for sell pressure and exploit attempts, and sensitivity analysis on the parameters that matter most.
- 04
Regulatory classification
Check the model against MiCA’s substance over form test, VARA where relevant, and the RBI/SEBI split for India, before the design is finalized.
- 05
Delivery and development
Final model, documentation, and a rationale ready to support a white paper or investor conversation. Where development is included, the engineering team builds directly against the finalized design.
One partner,
first model to live system.
Step by step
Inside Each Step
For each of the five steps: what it starts from, what happens in it and what comes out of it.
Discovery It starts from what you tell us: the product, its market, the stage the project is at and, if known, the jurisdictions you are targeting. For a tokenization, that includes the asset, the issuer’s jurisdiction and where the investors sit, because the rules change with each. What comes out is what the token or tokenized asset actually needs to accomplish economically.
Modelling It starts from your business model, which is planned together with the tokenomics for appropriate valuations, liquidity and utility to drive platform growth. Utility, supply, vesting and incentives are designed as one system rather than as separate documents. What comes out is a single economic model, built for the market a year from now, not launch day.
Stress testing It starts from the model: for an audit or a simulation, the one you bring. The model is run through volatility, low liquidity and coordinated sell pressure, because a base-case projection isn’t a test. What comes out is what fails under pressure and which parameters matter most. Booked on its own, as Tokenomics Simulations, it ends in a visualized simulation report with specific parameter changes.
Regulatory classification It starts from the tested model, before the design is final: compliance is a design input, not a legal afterthought. Under MiCA, regulators classify a token by substance over form, so its features decide what it is, not what the issuer calls it. In India, the asset decides the regulator: SEBI for securities, RBI for bank deposits. What comes out is economic and regulatory risk, surfaced together.
Delivery and development You receive the final model, its documentation and the rationale behind it. Under MiCA, a white paper for a token that is neither an e-money nor an asset-referenced token is notified to the national competent authority. The notification comes with an explanation of why the token is neither, and why it is not excluded from MiCA’s scope, as a financial instrument would be. Where development is included, there is no handoff: the same team builds the code against the model.
By service
Where Each Service Fits
Every engagement runs the same five steps. What differs is where the work sits, and what you receive.
| Service | Where the work sits | What you receive |
|---|---|---|
| Tokenomics Audit |
| A written report ranked by severity, covering the economic model, vulnerabilities and exploits, and regulatory classification, with an optional findings walkthrough call |
| Tokenomics Design & Modelling |
| Utility, supply, emission, vesting, incentive and governance design as one model, with multi-scenario stress testing and a regulatory classification review |
| Tokenomics Simulations |
| A visualized simulation report, with sensitivity analysis on key parameters and specific parameter changes |
| RWA Tokenization | All five steps | Asset eligibility assessment, SPV and legal entity structuring, token standard selection (ERC-3643, ERC-1400 or equivalent), cross-jurisdictional regulatory mapping, and custody and redemption design |
| Blockchain Development |
| Smart contracts, dApps and multi-chain deployment, built directly against the finalized design, with security review coordination, audit preparation and production infrastructure |
| Web3 Strategy & Advisory | All five steps | Go-to-market strategy, regulatory navigation across MiCA, VARA, RBI, SEBI and MAS, fundraising structure and investor relations support, and ongoing advisory from design through launch |
Common questions
What people ask before they call.
Five steps run under every engagement: discovery, modelling, stress testing, regulatory classification, and delivery and development. The economics are modelled as one system, stress tested against real market conditions, and checked against how regulators classify tokens before anything ships. The process begins with compliance and economics to estimate how value is created, captured and sustained.
The product, its market, the stage the project is at and, if known, the jurisdictions you are targeting. Discovery, the first of the five steps, starts from these. For a tokenization, add the asset, the issuer’s jurisdiction and where the investors sit. An audit or a simulation also starts from the token model you already have.
With Python-based stochastic simulation across volatility scenarios, adversarial testing for sell pressure and exploit attempts, and sensitivity analysis on the parameters that matter most. Together they test the model against real market conditions. Stress testing is the third of five steps, after modelling and before regulatory classification.
Yes. Tokenomics Simulations is the stress-testing step booked on its own: your model is run through volatility, low liquidity and coordinated sell pressure, with deterministic modelling of unlocks against supply and demand. It delivers a visualized simulation report and specific parameter changes. A tokenomics audit flags what fails under pressure and checks regulatory classification at the same time.
Before the design is finalized. The model is checked against MiCA’s substance-over-form test, VARA where relevant, and the RBI/SEBI split for India. Regulatory classification is the fourth of five steps, so the model’s classification is settled before delivery and development begin.
A final model, documentation and a rationale ready to support a white paper or investor conversation. Where development is included, the engineering team builds directly against the finalized design. Delivery and development is the last of five steps, after the model has been stress tested against real market conditions and its regulatory classification checked.
Let’s See If We’re the Right Fit
We take on a limited number of engagements at a time to keep advisory quality high. A short scoping call tells us both, quickly, whether this is a fit.