Project & Team
Description of Project
Provide a narrative description of the purpose of the project.
Obol exists to distribute, decentralize, and democratize the digital infrastructure of the future, starting with Ethereum and expanding across Web3.
Problem solved. Traditional Ethereum validators rely on a single node operator, creating single points of failure (slashing, downtime, censorship). Obol enables Distributed Validators (DVs), where validator keys are split across multiple operators so that no single party can compromise validator performance or security. This delivers stronger fault tolerance, lower slashing risk, and broader operator participation in securing Ethereum and other decentralized infrastructure networks.
How the project works. As the foundation for Layer 1 blockchains and decentralized infrastructure networks, the Obol Collective is home to a large decentralized operator ecosystem, including staking protocols, client teams, software tools, community projects, and professional node operators such as Lido, EtherFi, Nethermind, EigenLayer, Bitcoin Suisse, Blockdaemon, Stakewise, Chorus One and DappNode. Alongside DVs, the Obol Stack is a modular, plug-and-play framework for deploying and managing Ethereum nodes, AI agents, AVSs, and other decentralized infrastructure.
Token purpose. The OBOL token does not currently have direct value-accrual mechanisms such as fee-sharing or in-protocol staking rewards. The long-term intent is for OBOL to become the economic backbone of the Distributed Validator ecosystem, with utility that is product-driven, tightly coupled to real usage and demand, and sustainable over the long term.
Known Project Team
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the:
- (a) full names,
- (b) official titles,
- (c) and prior experience of key team members.
For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Labs / DevCo
Full Name | Official Title | Prior Experience |
|---|---|---|
Oisin Kyne | CEO, CTO & Co-Founder | Consensys, Accenture, Kyne Software |
Collin Myers | Board Member & Founder | Consensys, Token Foundry, DySys Capital |
Nannina Sackmann | Chief People Officer | Composable Finance, IOV Labs |
Foundation
Full Name | Official Title | Prior Experience |
|---|---|---|
Francis Hackett | President | Head of KPMG Legal Ireland |
Patrick Storchenegger | Board Member | Board of the Ethereum Foundation (current) |
Thomas Heremans | CFO | DV Labs co-CEO, Salesforce |
DAO / Onchain Governance
Full Name | Official Title | Prior Experience |
|---|---|---|
No DAO or onchain governance leadership exists. | / | / |
DAO Structure
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so for each sub question. Even if there is no DAO, there must be an answer to (d). Address the lettered items below.
- (a) IP ownership & control — State what IP the DAO owns or controls (e.g., codebases/repos, trademarks/brands). Note any license if relevant.
- (b) Contract/admin powers — List on-chain or administrative authorities and limits: pause/upgrade roles (e.g., multisig pause), governance-executor authorities, and the method of authority for each (e.g., veto, majority, super-majority).
- (c) Locked-token rights (conditional) — If locking/staking for additional rights exists, explain the additional rights and what tokenholders can and cannot decide. If no locking mechanism exists, leave absent.
- (d) Current tokenholder governance rights and economic arrangements — If any, describe the current governance rights of tokenholders and any presently operative rights or arrangements relating to treasury actions, fee-routing, rewards, buybacks, or other protocol-controlled resources. If none, state that explicitly.
- (e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
- (f) Dissolution authority — State who can dissolve/wind up the DAO and by what mechanism (e.g., on-chain vote threshold, board resolution of a legal wrapper).
(a) IP ownership & control
There is no active DAO or similar structure holding any IP, tokens or other property. The Obol Collective is a general concept used by marketing to refer to the wider ecosystem of partners and users of Obol-related technologies.
(b) Contract/admin powers
Not applicable. No DAO exists, and there are therefore no DAO-held on-chain or administrative authorities, pause/upgrade roles, or governance-executor authorities.
(c) Locked-token rights (conditional)
Not applicable. No DAO exists, and no locking or staking mechanism confers additional governance or economic rights on tokenholders.
(d) Current tokenholder governance rights and economic arrangements
No DAO exists. The OBOL token is regulated by FINMA (Swiss), which does not permit binding involvement of tokenholders in decision-making. Tokenholders therefore hold no governance rights over the protocol, the treasury, or the issuing entities.
OBOL does not currently have direct value-accrual mechanisms such as fee-sharing or staking rewards embedded in the token design. Subject to legal and regulatory constraints, revenue generated by the Obol Association may be used to buy back tokens or pay a yield to tokenholders, which it has done in the past. Any such action is discretionary and is not a legal right of tokenholders. No programmatic distribution mechanism to tokenholders currently exists.
(e) Control surface reliance
No DAO exists, so there is no DAO control surface. The OBOL token is regulated by FINMA (Swiss), which does not allow for binding involvement of tokenholders in decision-making. The Obol Association Board (simple majority quorum) controls all decisions regarding operations and funding. The DV Labs Board (simple majority quorum) controls all decisions regarding core development.
(f) Dissolution authority
Not applicable. No DAO exists, so there is no DAO to dissolve or wind up and no dissolution mechanism or threshold applies.
Primary Foundation
For the Primary Foundation do the following independently. If a Foundation does not exist, state so for each sub question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary Foundation can be explained as the entity which was directly/indirectly involved in the issuance of the native token at launch. If the original Foundation has been dissolved and in its place a "new Foundation" was created, then detail the "new Foundation".
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over DevCo — Explain whether the foundation can exert direct or indirect influence over decision-making of the DevCo.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities, and the method/threshold for each (e.g., veto/majority/super-majority).
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly.
(a) Entity
Obol Association, a Swiss association (Verein) domiciled in Zug, Switzerland. It has one wholly-owned Swiss subsidiary, Obol GmbH.
(b) IP ownership & control
The Obol Association owns Obol GmbH, a wholly-owned Swiss subsidiary.
The Charon IP (and its related repositories, under BSL) is owned by DV Labs and licensed to the Obol Association for sub-licensing to Obol GmbH and ultimately to end-users. Obol GmbH receives a percentage of the staking rewards of Charon licensees, deducted automatically via smart contracts.
The Pluto IP (second implementation of the DV Protocol, developed by Nethermind) is owned by the Obol Association. The Obol Association also owns the IP in the trademarks and brand associated with Obol.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
No DAO exists, so the Obol Association holds no powers over DAO governance.
The Obol Association holds all control over its treasury. It controls the following on-chain wallets:
Ecosystem Treasury 1: 0x42D201CC4d9C1e31c032397F54caCE2f48C1FA72 (2 out of 3 multisig)
Ecosystem Treasury 2: 0xAEfd0B68212ddca96D9cF69128C6f47351feF5FB (2 out of 3 multisig)
OBOL Incentives Reserve: 0xdc8A309111aB0574CA51cA9C7Dd0152738e4c374 (2 out of 3 multisig)
Protocol Revenue: 0xDe5aE4De36c966747Ea7DF13BD9589642e2B1D0d (2 out of 3 multisig)
Grant Program: 0xa59f60A7684A69E63c07bEC087cEC3D0607cd5cE (2 out of 3 multisig)
Association board resolution and the applicable multisig signing threshold on the above wallets are required for any significant transaction >$50k. Applicable multisig signing threshold only below this amount. The Obol Association does not control Charon fee parameters or reward parameters at the protocol level.
Token administration: minting rights exist on the token contract and control by the Ecosystem Treasury 1 wallet and its applicable multisig signing threshold. Board resolution required for new minting. No new minting is planned as the existing 500,000,000 supply is the socially communicated fixed cap.
(d) Powers over DevCo
The Obol Association does not hold any equity, board seat, contractual right, or other direct or indirect influence over DV Labs' decision-making. Revenue generated by the Obol Association will not be returned to equity holders in DV Labs. Where the Association contracts with DV Labs for certain services, any such contracts are the product of arm's-length negotiation and are paid in USD or USDC.
(e) Contract/admin powers
Not applicable in the absence of a DAO. There are no governance-executor authorities, and no veto, majority, or super-majority thresholds apply.
The Obol Association holds no pause, upgrade, or admin controls over the smart contracts deployed by users of Charon.
The Association's only administrative authority is over its own treasury wallets, which operate under multisig control with board resolution required for any significant transaction (see sub-question c).
(f) Current economic arrangements and distribution policies
Core team members and the Board of the Obol Association are compensated through a combination of salary and token allocation from the Obol Association. No core team member is compensated with tokens allocated to the Obol Association outside of Obol Association team members who are known and compensated by the Association.
The Obol Association's primary source of revenue is a percentage of the staking rewards received by licensees of the Charon middleware, deducted automatically via smart contracts and flowing to Obol GmbH, the Swiss wholly-owned subsidiary of the Association.
Revenue generated by the Obol Association will not be returned to equity holders in DV Labs via dividends on DV Labs equity or by share repurchases of DV Labs. Subject to legal and regulatory constraints, revenue may be used to buy back OBOL tokens. This is not a legal right of token holders. No programmatic distribution mechanism to token holders currently exists.
Primary DevCo
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly across each sub-question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary DevCo can be explained as the entity which was directly/indirectly involved in the issuance of the native token at launch. If the original DevCo has been dissolved and in its place a "new DevCo" was created, then detail the "new DevCo".
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over Foundation — Explain whether the DevCo can exert direct or indirect influence over decision-making of the Foundation.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each (e.g., veto/majority/super-majority; "3/5 multisig").
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly. Do not discuss hypothetical future dividends, repurchases, or distributions unless formally adopted.
(a) Entity
Obol Labs Inc., doing business as DV Labs — a Delaware corporation (C-corp), United States.
(b) IP ownership & control
The Charon IP (and its related repositories, under BSL) is owned by DV Labs and licensed to the Obol Association for sub-licensing to Obol GmbH and ultimately to end-users.
DV Labs also owns the Obol Stack IP.
DV Labs does not own the Obol trademarks or brand, which are held by the Obol Association, nor the Pluto IP. DV Labs has no subsidiary entities.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
No DAO exists, so DV Labs holds no powers over DAO governance.
Treasury: DV Labs controls the following on-chain treasury wallets: DV Labs Treasury 1: 0xC62188bDB24d2685AEd8fa491E33eFBa47Db63C2 (2-of-3 multisig); DV Labs Treasury 2: 0x6BeFB6484AA10187947Dda81fC01e495f7168dB4 (2-of-3 multisig); DV Labs Treasury 3: 0x0e401B6e6e0BE96E785aF0243f9af61b387AD28e (1-of-2 multisig, so either signer can act alone); DV Labs Treasury 4: 0x198632b2f6B53e03E349be805EabFe03FBf5D227 (2-of-5 multisig). Treasuries 1 to 3 are currently unused. Treasury 4 is used for contributor and adviser token payments, including funding Hedgey vesting plans.
Token administration: DV Labs held its portion of the token supply prior to the establishment of the Obol Association. Of its 21% reserve, 19% of total supply has been allocated to contractors and advisers; the unallocated 2% is held in the Ecosystem Treasury. DV Labs can amend the vesting and lock-up terms of the investor and contributor token agreements it is party to (the SAFEs and token purchase agreements) by resolution of the DV Labs board (simple majority) together with the consent of a supermajority (60%) of DV Labs investors. DV Labs exercised this power, with that board resolution and investor supermajority, to waive the investor lock-up in May 2026 (Section 15).
Protocol-controlled resources: DV Labs has no direct or indirect power over protocol-controlled resources or reward parameters. The Charon fee rate is set per customer in a dedicated splitter contract controlled by a 2-of-2 multisig between the Obol Association and that customer. DV Labs is not a signer, and the fee rate cannot be changed without both signatures.
(d) Powers over Foundation
DV Labs and its principals do not hold board seats, contractual rights, or any other direct or indirect influence over the Obol Association.
(e) Contract/admin powers
DV Labs holds no pause, upgrade, or governance-executor authorities over the smart contracts deployed by users of Charon. No veto, majority, or super-majority mechanism applies, as no such authority exists.
DV Labs' administrative authority is limited to its own treasury wallets, under the multisig thresholds set out in sub-question (c), and to the vesting and lock-up terms of its token agreements, which it can amend by DV Labs board resolution (simple majority) with the consent of a supermajority (60%) of DV Labs investors (sub-question (c)).
(f) Current economic arrangements and distribution policies
DV Labs' core team members are compensated by a mix of salary and token allocation from DV Labs, using supply owned wholly by DV Labs prior to the establishment of the Obol Association. The total allocated to current or future DV Labs contractors and advisers is 21% of total supply: 19% has been allocated, and the unallocated 2% is held in the Ecosystem Treasury. Most core contributors are employed and compensated by the Obol Association (see Section 4).
Revenue generated by the Obol Association is not returned to DV Labs or its equity holders, whether through dividends on the equity in DV Labs, share repurchases of DV Labs, or service contracts. The Obol Association does not currently contract with DV Labs for services. DV Labs has a standalone revenue source from node operations. No other mechanism currently exists.
Affiliated Protocol Contributor
Definition (for this section): An Affiliated Protocol Contributor (APC) is a non-issuer company - not the protocol's primary Foundation or DevCo - that materially contributes to the protocol's code, operations, governance, or funding. For example, Blockworks Advisory would be considered an APC of Ethena because it materially contributes to its operations through Ethena's risk council. Provide a structured description per APC. If no APCs exist, state that explicitly across each sub-question. Items below apply per APC.
- (a) Identity & role — Legal name, entity type, jurisdiction, and role (e.g., core development, security, infrastructure, market making, operations).
- (b) Parameter control & scope — For each existing APC, if any, what major protocol parameters the APC controls; include the method of authority (e.g., veto, majority, super-majority). If none, say so.
- (c) Contract/admin powers — For each existing APC, if any, provide the pause/upgrade powers (e.g., multisig pause), governance-executor authorities and limitations; include the method of authority for each (e.g. veto, majority, super-majority). If none, say so.
- (d) Compensation and material economic arrangements — For each existing APC, if protocol-generated resources or economic value is dynamically routed to the APC, describe the arrangement. If applicable, include the resource sources, routing mechanism, payment frequency, and duration. If no protocol resources or resources-linked economics are routed to the APC, state that explicitly.
(a) Identity & role
No Affiliated Protocol Contributors exist. There is no non-issuer company, other than the primary Foundation (Obol Association) and the primary DevCo (Obol Labs Inc. dba DV Labs), that materially contributes to the protocol's code, operations, governance, or funding.
(b) Parameter control & scope
Not applicable. No APCs exist, and no third party controls any protocol parameters. No method of authority applies.
(c) Contract/admin powers
Not applicable. No APCs exist. No third party holds pause, upgrade, or governance-executor authorities over the protocol.
(d) Compensation and material economic arrangements
Not applicable. No APCs exist, and no protocol-generated resources or economic value are routed to any such entity.
Token Supply & Allocation
Initial Allocation
Ticker | Date | Allocation Category Name | Recipient Type | Allocation % | Allocation Tokens | TGE Unlock % | TGE Unlock Tokens | Cliff Months | Cliff Unlock % | Linear Vesting Months | Cadence Months | Circulating Treatment | Notes on what each category is used for | If applicable: Contract / Wallet address |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OBOL | 5/7/2025 | Private Investors | Private / VC | 0.236 | 118000000 | 0 | 0 | 12 | 1 | 0 | 1 | Yes | Consideration for prior fundraising rounds (Seed, Series A1, Strategic). Original schedule was 1/3 at 12 months post-TGE then quarterly over 2 years; the investor vesting cliff was retired in April 2026 and the full allocation became unlocked on 7 May 2026 (modelled as a 100% cliff unlock at month 12). | |
OBOL | 5/7/2025 | Public Sale (CoinList) | Public / Sale | 0.036 | 18000000 | 0.5 | 9000000 | 0 | 0 | 12 | 1 | Yes | Consideration for community-round participants. 1/2 unlocked at TGE; remainder monthly over 12 months. Fully unlocked as at 7 May 2026. | |
OBOL | 5/7/2025 | Airdrop | Community | 0.075 | 37500000 | 1 | 37500000 | 0 | 0 | 0 | 1 | Yes | Distributed to eligible community participants. Snapshot 13 Jan 2025, 90-day claim window from 24 Jan 2025. Fully unlocked at TGE. | |
OBOL | 5/7/2025 | Community Incentives | Community | 0.075 | 37500000 | 0.032 | 1200000 | 0 | 0 | 36 | 1 | Conditional | Community incentive programs. Released weekly over 3 years from 1 April 2025; modelled as monthly (cadence 1) over 36 months as the template does not support a weekly cadence. Requires programme distribution, so treated as Conditional. | |
OBOL | 5/7/2025 | Ecosystem Treasury & RAF | Ecosystem | 0.388 | 194000000 | 0.206185567010309 | 40000000 | 0 | 0 | 36 | 1 | Conditional | Ecosystem grants, liquidity, operational funding, and Retroactive Funding (RAF). 8% of total supply unlocked at TGE; remainder linear over 3 years post-TGE. Requires treasury spend or grant issuance, so treated as Conditional. Includes the unallocated 2% of total supply (10,000,000 OBOL) of DV Labs' 21% contributor reserve, which is held in the Ecosystem Treasury. | 0x42D201CC4d9C1e31c032397F54caCE2f48C1FA72 |
OBOL | 5/7/2025 | Advisors & Team | Insiders | 0.19 | 95000000 | 0.084210526315789 | 8000000 | 12 | 0.305263 | 24 | 6 | Yes | Compensation for DV Labs contractors, advisers and team: 19% of total supply (the unallocated 2% of DV Labs' 21% contributor reserve is held in the Ecosystem Treasury and included in that row). Two cohorts: early advisers vest from a May 2024 vesting start date (1/3 at 12 months, which fell at TGE, then 1/6 every 6 months, fully vested by May 2027); the team vests from TGE (1/3 at 12 months post-TGE, then 1/6 every 6 months). The 8,000,000 OBOL (1.6% of total supply) unlocked at TGE is the early advisers' cliff; the cliff and linear vesting columns model the team cohort. Team, contributor and partner vesting was unchanged by the April 2026 retirement of the investor cliff. |
Vesting Insider Tokens
If there are no post-TGE token compensation plans, state explicitly they do not exist across each sub-question. If there are, explain each of (a)–(b) below.
- (a) Post-TGE employee lock as % of total supply — State the current total amount of tokens locked attributable to post-TGE employees, expressed as a percentage of total supply.
- (b) Typical post-TGE vesting schedule — Describe the standard vesting terms used for post-TGE grants, including: cliff length (or "no cliff"), vesting frequency (e.g., monthly/quarterly), and total duration.
(a) Post-TGE employee lock as % of total supply
2.50% of total supply.
As at 7 August 2026, tokens granted after the Token Generation Event of 7 May 2025 comprise 11 grants totalling 18,590,000 OBOL (3.72% of total supply), of which 6,085,667 OBOL have unlocked and 12,504,333 OBOL remain locked. The locked balance is 2.50% of the 500,000,000 fixed total supply.
These grants are held by post-TGE contributors, comprising both employees and contracted contributors, and are separate from the pre-TGE team and adviser allocations disclosed in Section 7.
(b) Typical post-TGE vesting schedule
Post-TGE grants vest on a single standard schedule: a one-year cliff running from the grant's vesting start date, at which point 33% unlocks, followed by quarterly unlocks of the remaining 67% over the subsequent two years. Total duration is three years from the vesting start date.
Nothing unlocks at the date of grant, and post-TGE grants carry no TGE unlock, as they were made after the Token Generation Event of 7 May 2025. This schedule is distinct from the pre-TGE team and adviser allocations disclosed in Section 7, which run from an earlier vesting start date.
Restrictions are set out in the applicable token grant and contributor agreements. The retirement of the investor vesting cliff in April 2026 did not alter this schedule, and no post-TGE contributor grants have been accelerated.
Disclosure of Token Advisory Billings
Disclose current token-based compensation for external advisors and service providers (e.g., legal, marketing, technical, growth) funded from the on-chain treasury. Do not disclose individual payments to advisors receiving fiat-only compensation. If there are no advisors contracted in tokens then state across each sub-question that no token-based advisory compensation exists.
- (a) Existence — Whether any such token-based payments or advisory commitments exist (or explicitly state that no token-based compensation for advisory commitments exist).
- (b) Total token allocation — For all existing token-based advisors, disclose the total token allocation across all advisory services.
- (c) Payer entity — For each existing token-based advisor, share the payer entity (e.g., Foundation, Labs/DevCo, DAO/treasury).
- (d) Description of advisory/services — For each existing token-based advisor, provide a brief description of the advisory/services (e.g., "legal and regulatory advisory," "growth and BD support," "security advisory").
(a) Existence
Yes. Token-based compensation for external advisors exists. A dedicated Advisors allocation was established and is settled in OBOL rather than fiat.
(b) Total token allocation
11,417,566 OBOL, being 2.28% of the 500,000,000 fixed total supply.
As at August 2026, 7,992,296 OBOL of that allocation has unlocked (1.60% of total supply), with the balance of 3,425,270 OBOL remaining locked and unlocking through to May 2027.
(c) Payer entity
Obol Labs Inc., doing business as DV Labs. All advisory token compensation is paid by DV Labs from its own allocation, not by the Obol Association.
Payments are made from the DV Labs treasury wallet at 0x198632b2f6B53e03E349be805EabFe03FBf5D227 on Ethereum, which operates under a 2-of-5 multisig and is disclosed in Section 11.
(d) Description of advisory/services
General advisory services across go-to-market, marketing, and engineering.
KOL Marketing Activities
Disclose ongoing KOL/influencer relationships that partially or fully received tokens for payment. You do not need to disclose KOL/influencers that do not receive tokens for payment. If no KOL engagements exist, state for each sub-question that no KOL engagements exist.
- (a) Existence & scope — State plainly whether KOLs receive tokens for payment.
- (b) Usernames & roles — List usernames/handles (with platforms) for KOLs that received token-based compensation and describe the nature of their activities. Legal names are not required.
- (c) Token allocation & vesting/locks — Provide the aggregate token amount across all such arrangements and summarize vesting, lock, or release terms.
(a) Existence & scope
No KOL engagements exist.
(b) Usernames & roles
No KOL engagements exist.
(c) Token allocation & vesting/locks
No KOL engagements exist.
Labelled Unissued & Operational Token Wallets
For each wallet that holds Unissued Tokens or is essential to operations (e.g., foundation, operations, treasury, investor reserve), disclose:
- (a) A category label explaining the wallet's primary function.
- (b) chain the wallet is on.
- (c) The unique address of the wallet.
- (d) The mechanism of control (e.g., DAO, multisig).
- (e) One verification link to a blockchain explorer.
Definition: Unissued Supply = tokens authorized by the contract but not yet issued to any party; where they sit (treasury or mint authority) does not change that they are unissued. For instance: if a token has a total supply cap of 1B, and 400M tokens have been issued to investors, the team, and users (whether vested or unlocked), then those 400M count as issued supply. The remaining 600M are authorized but unissued supply, even if they are already minted into a DAO treasury wallet.
Title | Primary Function | Chain | Address | Control Mechanism | Explorer Link |
|---|---|---|---|---|---|
Ecosystem Treasury 1 | Holds unissued Ecosystem allocation pending grant or treasury spend. Also owns Ecosystem Treasury 2, the OBOL Incentives Reserve and the Arrakis POL vaults, and controls OBOL token minting rights | Ethereum | 0x42D201CC4d9C1e31c032397F54caCE2f48C1FA72 | Obol Association 2-of-3 multisig; board resolution required for any significant transaction (above CHF 50,000) | |
Ecosystem Treasury 2 | Holds unissued Ecosystem allocation pending grant or treasury spend | Ethereum | 0xAEfd0B68212ddca96D9cF69128C6f47351feF5FB | Obol Association Safe whose sole owner is Ecosystem Treasury 1 (2-of-3 multisig), so every transaction needs 2 of 3 Treasury 1 signers; board resolution required for any significant transaction (above CHF 50,000) | |
OBOL Incentives Reserve | Holds unissued Community Incentives allocation pending weekly incentive distribution | Ethereum | 0xdc8A309111aB0574CA51cA9C7Dd0152738e4c374 | Obol Association Safe whose sole owner is Ecosystem Treasury 1 (2-of-3 multisig), so every transaction needs 2 of 3 Treasury 1 signers; board resolution required for any significant transaction (above CHF 50,000) | |
Protocol Revenue (Obol GmbH) | Receipt of protocol revenue from Charon licensees, accruing to Obol GmbH, the Obol Association's wholly-owned subsidiary | Ethereum | 0xDe5aE4De36c966747Ea7DF13BD9589642e2B1D0d | Obol GmbH 2-of-3 multisig | |
Grant Program | Grant disbursement to ecosystem recipients | Ethereum | 0xa59f60A7684A69E63c07bEC087cEC3D0607cd5cE | Obol Association 2-of-3 multisig; board resolution required for any significant transaction (above CHF 50,000) | |
DV Labs Treasury 1 | DevCo treasury; currently unused | Ethereum | 0xC62188bDB24d2685AEd8fa491E33eFBa47Db63C2 | DV Labs 2-of-3 multisig | |
DV Labs Treasury 2 | DevCo treasury; currently unused | Ethereum | 0x6BeFB6484AA10187947Dda81fC01e495f7168dB4 | DV Labs 2-of-3 multisig | |
DV Labs Treasury 3 | DevCo treasury; currently unused | Ethereum | 0x0e401B6e6e0BE96E785aF0243f9af61b387AD28e | DV Labs 1-of-2 multisig; either signer can execute a transaction alone | |
DV Labs Treasury 4 | DevCo treasury; contributor and adviser token payments, including funding of Hedgey vesting plans (Section 9) | Ethereum | 0x198632b2f6B53e03E349be805EabFe03FBf5D227 | DV Labs 2-of-5 multisig | |
OBOL Token Contract | OBOL ERC-20 token; fixed 500,000,000 supply | Ethereum | 0x0B010000b7624eb9B3DfBC279673C76E9D29D5F7 | Minting rights controlled by Ecosystem Treasury 1 (2-of-3 multisig); board resolution required for any new minting; no new minting planned | |
Arrakis POL Vault OBOL/ETH | Protocol-owned liquidity on Uniswap (OBOL/ETH) | Ethereum | 0xfa5f610ac47a754ae5dcc5d2b92df3109ce57fe6 | Arrakis private vault owned by Ecosystem Treasury 1 (2-of-3 multisig) via the vault NFT; Arrakis rebalances, only the owner can withdraw; withdrawals require board resolution | |
Arrakis POL Vault OBOL/USDC | Protocol-owned liquidity on Uniswap (OBOL/USDC) | Ethereum | 0xe6b8a8a870e3d52a5c73a42a77e5a26f3559c373 | Arrakis private vault owned by Ecosystem Treasury 1 (2-of-3 multisig) via the vault NFT; Arrakis rebalances, only the owner can withdraw; withdrawals require board resolution | |
Hedgey VotingTokenVestingPlans | Locked supply: contributor and adviser vesting plans funded by DV Labs (approx. 13.09M OBOL held as of 2026-10-13) | Ethereum | 0x1bb64AF7FE05fc69c740609267d2AbE3e119Ef82 | Hedgey vesting contract (immutable, non-custodial): locked OBOL releases to each beneficiary on its plan schedule; the DV Labs plans were funded from DV Labs Treasury 4 (2-of-5 multisig) | |
Hedgey TokenVestingPlans | Locked supply: contributor and adviser vesting plans funded by DV Labs, plus OBOL that other holders have locked through the same contract (approx. 17.31M OBOL held as of 2026-10-13) | Ethereum | 0x2CDE9919e81b20B4B33DD562a48a84b54C48F00C | Hedgey vesting contract (immutable, non-custodial): locked OBOL releases to each beneficiary on its plan schedule; the DV Labs plans were funded from DV Labs Treasury 4 (2-of-5 multisig) |
Transactions & Market Structures
Market Maker Agreements & Deals
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly. For each market maker, include in a table:
- (a) Market maker's name — the market maker's name;
- (b) Token allocation or loaned amount — the token allocation or loaned amount as a percentage of total supply;
- (c) Duration/term of agreement — the duration/term of the agreement; and, where applicable,
- (d) Name of agreement structure — label the financial vehicle being used in the agreement (i.e. loan, option/call, retainer model).
If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for (b).
Market Maker Name | Token Allocation Committed | Term Duration | Structure Name |
|---|---|---|---|
Amber | 0.8% of max supply | Loan, 12 months from 2025-05-07, expired 2026-05-07; all loaned tokens returned (no option exercised) | Loan |
Auros | 0.6% of max supply | Loan, 12 months from 2025-05-07, expired 2026-05-07; all loaned tokens returned (no option exercised) | Loan |
Arrakis | 0% (liquidity wholly owned by the Obol Association) | Terminable on 1 month's notice | Self-owned liquidity provision arrangement |
LoFi | 0% (liquidity wholly owned by the Obol Association) | Terminable on 2 months notice | Retainer (fiat); market makes using liquidity owned by the Obol Association |
Exchange Agreements & Deals
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
- (a) Exchange name / DEX pool — the exchange name (and, for DEX, the specific pool/pair);
- (b) Token allocation for listing — the token allocation supplied or committed for listing as a percentage of total supply;
- (c) Term Duration — the duration/term of any listing lockups, liquidity, or incentive programs; and, where applicable,
- (d) Native-token listing fees — whether any listing fees were paid in native tokens, with amounts (tokens or % of supply), recipients, and any vesting or lock terms tied to the partnership.
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Exchange Name | Token Allocation Committed | Term Duration | Native Token Listing Fees |
|---|---|---|---|
Binance Alpha & Perps | 3% of max supply | 1% airdrop to alpha users, 1% for immediate marketing, 1% for marketing 6 months post TGE (7th May 2025). | None |
Bybit | 1.5% of max supply | Airdrop to users in the first week of TGE and for marketing purposes. Unlocked at TGE (7th May 2025). | None |
Gate | 0.5% of max supply | Airdrop to users in the first week of TGE and for marketing purposes. Unlocked at TGE (7th May 2025). | None |
Bitget | 0.4% of max supply | Airdrop to users in the first week of TGE and for marketing purposes. Unlocked at TGE (7th May 2025). | None |
Uniswap OBOL/ETH and OBOL/USDC (Arrakis private vaults) | About 5.9% of total supply (approx. 29.69M OBOL as of 2026-10-13), protocol-owned liquidity | Terminable on 1 month's notice (Arrakis); no listing lock-up | None |
Liquidity Deals and Market Activity
If a category does not exist or is not applicable, make that clear in plain language.
- (a) Token repurchases or secondary-market accumulations (if any) — Source of funds, treatment (burn, treasury retention, POL, redistribution, or other), policy controller (who can change the secondary-market accumulation strategy), and whether those tokens may be re-used, re-issued, or permanently removed from circulation.
- (b) Protocol-owned liquidity (POL) (if any) — Where deployed, total token or dollar size across deployments, policy controller (who can change the POL strategy), and unwind/exit policy.
- (c) Liquidity deals / purchased TVL (if any) — The total size across all deals, and where the capital participates - no counterparty names needed.
- (d) Token-secured loans/lines (incl. against unissued tokens) (if any) — Principal, gross position size, collateral, counterparties, and unwind/exit policy.
(a) Token repurchases or secondary-market accumulations (if any)
The Obol Association has conducted discretionary open-market repurchases of OBOL, described publicly as Strategic Treasury Operations.
Source of funds: protocol fees held by the Obol Association. In the operation announced on 22 January 2026, the Association acquired 1,706,309 OBOL from the open market, equivalent to approximately USD 50,000 at the time, with the size determined in consultation with Arrakis. A second, smaller operation of approximately USD 6,000 followed in February 2026.
Treatment: repurchased tokens are not burned. The acquired inventory was paired with ETH and deployed into Arrakis-managed vaults on Uniswap as protocol-owned liquidity. Tokens are therefore retained by the Association and remain available for future deployment; they are not permanently removed from supply.
Control of policy: the Obol Association board. Repurchases are discretionary and are not governed by a programmatic mechanism, a tokenholder vote, or any commitment as to frequency or size. The Association has stated publicly that it cannot commit to conducting further Strategic Treasury Operations.
(b) Protocol-owned liquidity (POL) (if any)
The Obol Association maintains protocol-owned liquidity through two Arrakis-managed private vaults on Uniswap, both owned by Ecosystem Treasury 1 (0x42D201CC4d9C1e31c032397F54caCE2f48C1FA72, 2-of-3 multisig): an OBOL/ETH vault (0xfa5f610ac47a754ae5dcc5d2b92df3109ce57fe6) and an OBOL/USDC vault (0xe6b8a8a870e3d52a5c73a42a77e5a26f3559c373). Baseline liquidity is owned by the Association rather than rented from third parties, and repurchased OBOL has been paired with ETH and deployed into these vaults.
Size: as of 2026-10-13, the vaults hold approximately 29.69M OBOL in total (about 5.9% of total supply) together with approximately 15.6 ETH and 41,016 USDC. The OBOL/ETH vault holds approximately 14.32M OBOL and 15.6 ETH; the OBOL/USDC vault holds approximately 15.36M OBOL and 41,016 USDC.
Policy controller: the Obol Association board controls POL strategy by board resolution under the Association's by-laws: a simple majority of the members present (quorum of 51% of members), rising to a two-thirds majority of votes cast for any transaction above CHF 50,000 not provided for in the budget. Arrakis rebalances positions within the vaults on the Association's behalf but cannot withdraw them.
Unwind policy: positions may be withdrawn only by board resolution under those thresholds, executed through the Ecosystem Treasury 1 multisig (2 of 3 signers).
History: on 29 April 2026, around the retirement of the investor cliff, the Obol Association temporarily withdrew its baseline liquidity in favour of market-driven liquidity, to avoid absorbing near-term volatility. On 1 May 2026 the Association reversed that decision and returned to its protocol-owned liquidity strategy, and the baseline liquidity managed by Arrakis was restored in early May 2026. The Association has stated that POL is its long-term approach, replacing reliance on dilutive emissions and centralised venues.
(c) Liquidity deals / purchased TVL (if any)
No liquidity deals have been entered into. The project has not purchased, rented, or incentivised third-party TVL, and no arrangements of this kind exist.
(d) Token-secured loans/lines (incl. against unissued tokens) (if any)
No token-secured loans or credit lines exist. Neither the Obol Association nor DV Labs has borrowed against, pledged, or otherwise encumbered OBOL tokens as collateral.
Resource Disclosures
Prior Token Sales & Fundraising
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
- (a) Series Name;
- (b) Early-Stage Investment Instrument used (i.e. SAFT, STAMP, SAFE, SAFE+Token Warrant, etc.);
- (c) Date of sale (at least month & year);
- (d) Number of tokens sold (or % of total supply);
- (e) Vesting schedule.
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Series Name | Investment Instrument | Date Of Sale | Number of tokens sold | Vesting Schedule |
|---|---|---|---|---|
Seed Round (Lead: Ethereal Ventures; $6M raised at $50M FDV) | SAFE / Token Purchase Agreement | September 2021 (approx.) | 8.3% of total supply | Covered under the Private Investors 23.5% bucket. Original schedule: 1/3 unlocking 1 year post-TGE, remainder quarterly over 2 years. DV Labs waived the remaining lockup, so the full allocation became unlocked on 7 May 2026. |
Series A1 (Leads: Pantera, Archetype, Placeholder; $12.5M at $125M FDV) | SAFE / Token Purchase Agreement | 15 December 2022 | 14.7% of total supply | Covered under the Private Investors 23.5% bucket. Lockup waived by DV Labs; fully unlocked on 7 May 2026. |
Strategic Round (Investors: Hashkey, Infstones; $1M at $180M FDV) | SAFE / Token Purchase Agreement | November 2023 (approx.) | 0.6% of total supply | Covered under the Private Investors 23.5% bucket. Lockup waived by DV Labs; fully unlocked on 7 May 2026. |
Community Round (CoinList) ($4.2M at $125M FDV) | Token Purchase Agreement | February 2025 (approx.) | 3.6% of total supply | 1/2 unlocked at TGE; remainder unlocking monthly over 12 months. Now fully unlocked. |
Operational Funding, Economic Flows, and Resource Provisioning
Provide a narrative description of the Project's material funding sources, economic flows, and operational provisioning, broken out by entity: Foundation, Lab/DevCo, and DAO. If an entity does not exist, state that explicitly.
- (a) Entity existence — Explicitly state whether each of Foundation, Lab/DevCo, and DAO exists.
- (b) Material sources of funding or economic inflows — For each existing entity, describe its primary sources of operational funding or economic inflows, if any (e.g., service fees, grants, donations, treasury reserves, token reserves, staking rewards, validator/sequencer income, partnership payments, retained revenue, or other protocol-related receipts).
- (c) Operational use of resources — For each existing entity, briefly describe how those resources are generally used (e.g., development, operations, security, ecosystem support, grants, liquidity support).
- (d) Onchain Resource Usage — For each existing entity, provide links to public dashboards and token holder relations reports that help explain on-chain financial activity, treasury activity, fee flows, rewards, or other protocol-controlled resources. Make certain to explain what each link is for.
(a) Entity existence
Foundation: exists. The Obol Association, a Swiss association (Verein) domiciled in Zug, with one wholly-owned Swiss subsidiary, Obol GmbH.
Lab / DevCo: exists. Obol Labs Inc., doing business as DV Labs, a Delaware corporation.
DAO: does not exist. There is no DAO or equivalent on-chain governance body.
(b) Material sources of funding or economic inflows
Foundation (Obol Association). Three material sources. First, its share of the Ecosystem Treasury, being 38.8% of total supply, of which 8% was unlocked at TGE and 30.8% unlocks linearly over 3 years post-TGE. Second, protocol revenue: a percentage of the staking rewards earned by licensees of the Charon middleware, deducted automatically via smart contracts and accruing to Obol GmbH, the Association's wholly-owned Swiss subsidiary. Third, proceeds of the Community Round on CoinList (Section 15), totalling USD 4.2M, received by the Obol Association.
Lab / DevCo (DV Labs). Three material sources. First, its own token allocation, held prior to the establishment of the Obol Association: of a 21% reserve, 19% of total supply has been allocated to contractors and advisers, and the unallocated 2% is held in the Ecosystem Treasury. Second, a standalone revenue source from node operations. Third, proceeds from the Seed, Series A1 and Strategic rounds in Section 15, totalling USD 19.5M.
DAO. Does not exist, and therefore has no sources of funding or economic inflows.
(c) Operational use of resources
Foundation (Obol Association). Funds core protocol development, including engineering on the Charon middleware and the Obol Stack, grant programmes, and ecosystem incentives. Core team members and the Board of the Association are compensated through a combination of salary and token allocation from the Association.
Lab / DevCo (DV Labs). Retains a small core team and operates its own node operations services. Its core team members are compensated by a mix of salary and token allocation from DV Labs, drawn from supply owned wholly by DV Labs prior to the establishment of the Obol Association. DV Labs does not currently provide services to the Obol Association.
DAO. Does not exist, and therefore makes no operational use of resources.
(d) Onchain Resource Usage
Foundation (Obol Association). DefiLlama: Charon fee revenue accruing to Obol GmbH: https://defillama.com/protocol/obol
Onchain fee record (Protocol Revenue wallet): https://etherscan.io/address/0xDe5aE4De36c966747Ea7DF13BD9589642e2B1D0d
Lab / DevCo (DV Labs). DV Labs treasury activity, including advisor token payments: https://etherscan.io/address/0x198632b2f6B53e03E349be805EabFe03FBf5D227
DAO. Does not exist.
Previous Exploits Affecting The Native Token
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
- (a) Date & component affected — Date (YYYY-MM or YYYY-MM-DD), chain(s)/component affected.
- (b) Exploit vector summary — Plain-language summary of the exploit vector (what the hack was).
- (c) Quantified impact — Quantified impact (assets/tokens affected or a clear "no loss of funds" statement).
- (d) Remediation/response taken — Remediation/response taken (patches, upgrades, governance actions, compensation).
- (e) Current status — Current status (resolved, in litigation, under investigation, refunded, etc.).
- (f) References — Link(s) to post-mortem/advisory/PR.
(a) Date & component affected
No exploits affecting tokenholders or protocol funds as of 2026-10-13. No date, chain, or component has been affected.
(b) Exploit vector summary
No exploits affecting tokenholders or protocol funds as of 2026-10-13. No exploit affecting the native token, token supply, tokenholder balances, the token contract, minting controls, burn mechanics, or custody of token supply has occurred, so there is no exploit vector to summarise.
(c) Quantified impact
No exploits affecting tokenholders or protocol funds as of 2026-10-13. No loss of funds. No tokens, tokenholder balances, or protocol funds have been affected.
(d) Remediation/response taken
No exploits affecting tokenholders or protocol funds as of 2026-10-13. No incident has occurred, so no patches, upgrades, governance actions, or compensation have been required.
(e) Current status
No exploits affecting tokenholders or protocol funds as of 2026-10-13. No incident has occurred, so there is nothing resolved, in litigation, under investigation, or refunded.
(f) References
Not applicable. No post-mortem, advisory, or public statement exists, as no incident affecting the native token has occurred.
[Optional] Offchain Foundation Or DevCo Income Statement
Provide a single income statement, expense summary, or comparable operating statement for the primary Foundation or Developer Company. A consolidated or entity-level presentation is acceptable. Balance Sheet and Statement of Cash Flows may be included but are not required. This item is intended to provide transparency into offchain operating resources and expenditures only.
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Obol is solely responsible for the content, accuracy, and legality of its disclosures.