Criteria
What we look for.
Our published criteria for liquid tokens and early-stage protocol rounds—the same as on caldrion.com, and applied the same way to every opportunity.
Criteria
Criteria at a glance
Liquid tokens and early-stage protocol rounds.
- Market cap
- $500M+ for liquid tokens$10M+ valuation for early-stage rounds
- Liquidity
- High daily volumeOn top-tier exchanges
- Sectors
- Infrastructure, DeFi, and scalingLayer 1 and Layer 2 networks; consumer and gaming applications
- Tokenomics
- Transparent, sustainable supply schedulesClear value accrual to token holders
- Governance
- Active developer communityAudited, open-source code
- Structure
- Spot, SAFTs, or token warrantsSAFT: simple agreement for future tokens
We aim to give initial feedback within 72 hours of receiving a complete package. Check fit on caldrion.com.
01How to read them
Guides, not rules.
The criteria below guide where we spend our time. Liquid tokens need scale and deep, high-volume markets; early-stage rounds need a credible team, sound token economics and audited, open-source code. They are not a promise to invest: every investment is decided by Caldrion’s investment committee, after a technical review of the code, the tokenomics and the team.
Caldrion is a single family office: it invests only its own capital, has no outside investors or clients, and does not offer securities.
02What to send
A complete package.
Links, not files. A complete package gets the fastest answer.
- Link to the whitepaper or technical documentation
- Link to the tokenomics model (vesting, distribution and supply)
- Link to the GitHub repository, if applicable
03Outside our mandate
What we don’t do.
- Meme coins.
- Projects with anonymous teams.
- Closed-source or unaudited code.
- Tokens without transparent supply schedules or clear value accrual to token holders.
- Thinly traded tokens without high daily volume on top-tier exchanges.
- Yield we cannot trace to a real source: fees, lending or staking.
- Strategies without strict limits on leverage and drawdown.
- Outside capital of any kind. Caldrion invests only its own capital and does not offer securities.
Criteria
Building something durable?
Protocol teams, founders and advisors reach a decision-maker through one short form. We aim to give initial feedback within 72 hours of receiving a complete package.