About CryptoRefract

CryptoRefract is an independent, transparent reference for crypto-asset valuation. It exists to answer one question clearly and without spin: is an asset's price grounded in fundamentals, or in expectation?

Why it exists

Crypto prices are often discussed in their own vocabulary, detached from the tools used to value any other business. We think that makes them harder to reason about, not easier. CryptoRefract translates every protocol into the language of traditional finance — fees as revenue, holder accrual as earnings, ratios as P/S and P/E — and decomposes the price into the part explained by today's fundamentals and the part that rests on the future. The aim is not to be exciting; it is to be legible and honest.

How we work

• Decomposition, not verdicts. We split a price into "explained" and "not-yet-explained" and describe the split. We do not publish fair values, price targets, or buy/sell calls. The judgment stays with the reader.
• Own the anchor. The figures that matter — fees and holder-attributed revenue — are computed by us from protocol data and on-chain sources, not lifted from a third-party API. Public market data is used only as secondary context, and labeled as such.
• Show our confidence. Every figure carries a source and a confidence level. When something is unverified or unknown, we say so rather than guess, and we flag temporary sources until we own the number.
• Descriptive and neutral. We avoid "overvalued," "bubble," "cheap," and similar words. The model speaks in proportions and mechanisms, not opinions.

Independence and transparency

CryptoRefract is built to be independent: it does not take payment to feature, rank, or frame any asset favorably, and it discloses how every number is produced and where it comes from. We would rather earn trust through a method that anyone can inspect than through personalities or promises. Accordingly, this reference is presented through its approach and its data, not through individual profiles.

What it is not

It is not investment advice, a trading product, or a signal service, and nothing on the site should be read as a recommendation. See the Methodology for how the figures are produced, the Glossary for the terms, and the Disclaimer for the full statement.

Operated by The Accidental Order Inc. (주식회사 우연의질서). See the Imprint for entity details.