Latest
TokenizationRWA Tokenization in India: A 2026 Guide
Indian law treats a tokenized asset as whatever it represents. This guide covers SEBI's Demat 2.0 and REIT routes, RBI pilots, GIFT City, VDA tax and FEMA.
Blockphrase Team
/10 min read
Insights
Research, Not Recycled Takes
Everything here reflects work we have actually done: classification calls we have made, models we have stress tested, structures we have built. Filter by topic to find what is relevant to your stage.
23 published · Latest 21 Oct 2026
Published research
23 published
Regulatory Compliance/
VARA Licensing in Dubai: A Practical Guide
Who needs a VARA license in Dubai, how the two-stage application works, which rulebooks apply, what VARA charges and where applications stall.
Blockphrase Team10 min read
Regulatory Compliance/
MiCA Token Classification: A Founder's Guide
How MiCA classifies a token as an ART, EMT or other crypto-asset, what falls outside it, and what each class requires before launch, as of October 2026.
Blockphrase Team10 min read
GTM/
8 min readBlockphrase TeamCrypto Market Maker Agreements: Key Terms
Crypto market maker agreements explained: retainer versus token loan and call option, the terms to include, and the red flags behind recent enforcement.
Blockphrase Team8 min read
Tokenization/
9 min readBlockphrase TeamDubai Real Estate Tokenization: How It Works
Dubai's DLD tokenization pilot records title shares on a blockchain. See how VARA, DIFC and ADGM rules apply, what buyers own and who can invest.
Blockphrase Team9 min read
Regulatory Compliance/
9 min readBlockphrase TeamStablecoin Rules: EU, UAE, Singapore and India
Stablecoin rules in the EU, UAE, Singapore and India as of October 2026: who may issue, reserve and redemption rules, interest bans and what is in force.
Blockphrase Team9 min read
Tokenomics/
9 min readBlockphrase TeamTokenomics Audit Checklist: 9 Areas to Review
What a tokenomics audit checks across nine areas, from supply, unlocks and market making to governance and MiCA or VARA classification, with red flags.
Blockphrase Team9 min read
Tokenomics/
8 min readBlockphrase TeamAI Token Economics: How to Forecast LLM Costs
AI token economics explained: how LLM inference is priced per token, how to forecast cost per user as usage grows, and which levers cut the bill.
Blockphrase Team8 min read
Tokenomics/
8 min readBlockphrase TeamToken Vesting: Designing Unlocks That Hold
Why large token unlocks pressure prices, what Keyrock's study of 16,000+ unlocks found, and how to design cliffs, linear vesting and calendars that hold.
Blockphrase Team8 min read
Tokenization/
5 min readBlockphrase TeamThe common failures of Tokenization in 2026
This is the most common failure in tokenization architecture in 2026.
Blockphrase Team5 min read
Regulatory Compliance/
5 min readBlockphrase TeamRegulation in India & Enforcement is not the only way
ED raided five crypto firms in Bengaluru for "unauthorised cross-border transfer of money via cryptocurrencies." i.e., FEMA Guidelines but these aren't scams.
Blockphrase Team5 min read
Tokenization/
5 min readBlockphrase TeamTokenized Pre-IPO Equity: Readiness Framework Most Projects Ignore
Tokenizing pre-IPO shares is gaining traction as a new distribution model for private market access. However, most projects approach it as a marketing or liquidity innovation, rather than a regulated financial infrastructure problem.
Blockphrase Team5 min read
Tokenomics/
5 min readBlockphrase TeamStablecoins and the importance of their Design
Stablecoins issuers need to focus more on economic design
Blockphrase Team5 min read
GTM/
3 min readBlockphrase TeamThe Token Supply Crisis of 2026 is not a Market Problem. It is a Design Problem.
In the first two months of 2026 alone, over 540,000 new tokens were launched across Ethereum, Solana, and Base. However only 0.1% will survive.
Blockphrase Team3 min read
GTM/
8 min readAshish HomkarWhy Most Crypto Projects Collapse 6 to 8 Months After TGE — And the Red Flags That Predict It
Most token projects that fail post-TGE made their fatal decisions six months before launch. Here are the nine structural red flags that predict a post-launch collapse, and what healthy alternatives look like.
Ashish Homkar8 min read
Regulatory Compliance/
7 min readAshish HomkarThe 5-Step Token Design Framework Every Serious Builder Needs Before Launch
Regulators under MiCA, VARA, and CBB now require documented token economic models for VA and VASP licences. Here is the 5-step framework that separates engineered token economics from speculative noise.
Ashish Homkar7 min read
Tokenomics/
6 min readAshish HomkarWhat Separates a Fundamentally Strong Token from a Pump-and-Dump Scheme
Most tokens launch with no vesting, no revenue model, and no real utility. Here are the 3 tokenomics pillars that fundamentally strong Web3 projects build on — and the red flags that reveal a project is designed to fail.
Ashish Homkar6 min read
Tokenomics/
6 min readAshish HomkarWhy a Tri-Token Economy Will Kill Your Crypto Project — And What to Do Instead
Your development team should not be designing your tokenomics. Here is why multi-token economies fail for most projects, when dual tokenomics actually work, and how to structure token purchases the right way.
Ashish Homkar6 min read
Tokenomics/
7 min readAshish HomkarWhy Most Cryptocurrency Token Launches Fail Before Development Even Starts
Most crypto projects overpay or get scammed because they skip the fundamentals. Here is the exact 8-stage chronology every token project must follow before writing a single line of smart contract code.
Ashish Homkar7 min read
GTM/
6 min readAshish HomkarMost Projects Don't Need a Token. Here's How to Know If Yours Does.
135,000+ tokens launch every day. 99.99% won't survive. The uncomfortable truth is that most founders don't need a token — they need an excuse to raise capital. Here's the honest framework for knowing when tokenization actually makes sense.
Ashish Homkar6 min read
Tokenomics/
7 min readAshish HomkarA 5-Step Framework for Designing Token Economics That Survive Regulators and Bear Markets
Regulators across MiCA, VARA, and CBB are now mandating token economic models before any licence is granted. Here's a rigorous framework for designing tokenomics that hold up under scrutiny — and under market pressure.
Ashish Homkar7 min read
Tokenomics/
6 min readAshish HomkarHow Poor Tokenomics Wrecked the $OM Token — A Case Study in Vesting, Emissions & Buybacks
Mantra's $OM token did a 1:4 rebrand swap after a collapse driven by poor vesting schedules, rising emissions, and a buyback mechanism that couldn't save a structurally broken model. Here's what went wrong.
Ashish Homkar6 min read
Tokenomics/
5 min readAshish HomkarBerachain Made $124 in Profit in February. Here's the Tokenomics Problem Behind It.
Berachain raised $142M, launched with record testnet numbers, and watched farmers leave the moment emissions slowed. This isn't a Berachain problem — it's a design problem. And it starts in the tokenomics.
Ashish Homkar5 min read
