Encume for builders

Token economies are financial systems. Build them like one.

Tokenomics, whitepapers, research and licensing documentation for Web3 teams, from a Chartered Accountant with a background in regulatory reporting at global banks.

A token allocation committed to a chainAn illustrative allocation laid out as a ledger schedule. Each line links to a block, and the blocks link to each other.Token allocationIllustrativeParticularsShare of supplyCommunity & ecosystem38%0x7a3f…c21eTreasury reserve20%0x1d9b…04afTeam, 36-month vesting15%0xe402…9b17Investors, 24-month vesting15%0x5c6e…d3a0Liquidity12%0x98f1…2e6cTotal supply100%
Every line in the schedule becomes a commitment on-chain. Get it right before launch.

Track record

Independent Web3 work since 2021, alongside a career in financial services.

whitepapers written
15+
whitepapers written
tokenomics models built
20+
tokenomics models built
raised by projects I contributed to
$10M+
raised by projects I contributed to
rating on every reviewed Upwork engagement
5.0
rating on every reviewed Upwork engagement

Day job experience across Macquarie, HSBC and Barclays: the reporting, controls and regulatory discipline that token projects usually discover they need after launch.

Services

Starting prices in USD. Every project is quoted after a short call.

Token design and strategy

from $399

Allocation, vesting, emissions and valuation built as one model, so the supply schedule, unlock calendar and treasury runway agree with the roadmap and survive an investor’s spreadsheet.

What’s included

  • Allocation across community, team, treasury, investors and ecosystem
  • Emission schedules with cliffs, linear vesting and unlock calendars
  • Circulating supply forecasts over three to five years
  • Staking and burn mechanics, sized against real demand
  • DAO runway and treasury planning
  • Investor price benchmarks, FDV and TGE market-cap checks

Scope levels

StarterAllocation and vesting logic in Google Sheets
StandardAdds emissions, valuation and supply modelling
AdvancedMulti-token economies, DAO runway, liquidity model and exchange-ready documentation
Typical timeline 5–8 working days You receive Google Sheets model, recorded walkthrough, one feedback round

Whitepapers and technical documents

from $299

Whitepapers that explain what the token does and why anyone would hold it, with the numbers to back it up. Written for investors, exchanges and communities rather than for a word count.

What’s included

  • Business model and token utility, explained in plain language
  • Incentive design that matches the tokenomics model
  • Market positioning and a roadmap tied to milestones
  • Team, partners and governance sections
  • Optional DAO and multi-token economy layers
  • Compliance and risk sections in the full suite

Scope levels

Lite5–8 pages: the story and the utility
Standard10–14 pages including tokenomics, roadmap and team
Full suite14–20 pages with compliance layers, risk models and visual maps
Whitepaper and modelDocument plus a token model with vesting and price simulation
Whitepaper, model and deckAll of the above plus a 10–12 slide investor deck
Typical timeline About 10 working days You receive .docx and PDF, recorded walkthrough, up to two feedback rounds

Web3 strategy and research

from $399

Research and strategy documents for teams deciding what to build, who for and how to pitch it. Market research, financial models, product architecture and compliance mapping, written to be used in a fundraise or a board meeting.

What’s included

  • Market research with surveys, segmentation and competitor analysis
  • Financial models: CAC and LTV, burn, revenue, breakeven, market sizing
  • Pitch deck and one-page narrative
  • Product and protocol architecture specs with risk layers
  • Custody, AML/KYC and Travel Rule policy frameworks
  • Jurisdictional compliance mapping across FATF, MAS, SFC and FinCEN guidance

Scope levels

Explainer document3–5 pages: research summary and go-to-market narrative
Financial modelUnit economics, burn, projections and breakeven in Excel
Deck and narrative10–12 slide pitch deck with a one-page summary
Full research package12–20 page document, deck and optional model
Specialist workLending flow design, custody stack policy, ESG frameworks, multi-country compliance kits
Typical timeline 5–8 working days for most documents You receive PDF, deck or Notion document, one async review loop

Exchange and fund licensing documents

from $799

The documentation stack a regulator reads before granting a licence: business plans, compliance manuals, AML/KYC frameworks, onboarding SOPs and risk policies, mapped clause by clause to the regime you are applying under.

What’s included

  • Regulator-facing business plan and financial model
  • Compliance manual, AML/CFT and KYC framework
  • Onboarding, custody and operations SOPs
  • Risk frameworks and internal control mapping
  • Token listing policy and whitelist rules
  • Summary sheet mapping each policy to the relevant rule

Scope levels

Audit-ready documentsBusiness and compliance plans for an exchange or fund licence
Full licensing stackMulti-document set including SOPs, token policy and pitch deck
Add-onFinancial model or exchange token valuation layer

Past work covers MAS (Singapore), the SFC (Hong Kong) and the Bahamas DARE Act. Your legal counsel sets the regulatory anchors; I build the documents alongside your founders or operations team. I do not represent clients before regulators.

Typical timeline About 10 working days You receive Word or Google Docs folder, mapping sheet, one review cycle

Crypto research writing

from $49

Research-led writing for crypto publications and brands: token reviews, exchange breakdowns, explainers and video scripts. Ghostwritten or bylined. No bulk news rewrites.

What’s included

  • Token reviews covering fundamentals, tokenomics and risk
  • Exchange reviews: liquidity, spreads, utility and KYC experience
  • Educational explainers and trading guides
  • Scripts for YouTube Shorts and long-form video
  • Monthly ghostwriting retainers for brands

Scope levels

Quick breakdown600–800 words from pre-researched input
Standard analysis1,000–1,200 words with fundamentals and a basic risk review
Full feature1,500–1,800 words with primary research and an investor lens
Exchange review deckAudit-style deck of up to 8 slides
Ghostwriting retainer15–20 articles a month
Typical timeline Batches of 3–5 pieces in about a week You receive Google Docs, .docx or Notion, with metadata; one revision round

Packages

Combined scopes for teams that need several documents to agree with each other.

Web3 launch pack

$1,449

Tokenomics model, whitepaper, an advisory call and an investor pitch deck, built to tell the same story.

Investor-ready pitch pack

$599

Pitch deck, a three-page summary and a 30-minute call to rehearse the pitch.

Fractional Web3 consultant

$699/month

8–10 hours a month across research, document reviews and tokenomics revisions, for teams whose strategy is still moving.

Case studies

9 engagements. 6 of them carry a 5.0 Upwork review.

Open the work library Browse all case studies
Strategy and research 5.0 on Upwork

Custody policy and AML/KYC framework for a digital asset custodian

An institutional custody policy and AML/KYC/CFT addendum for a Fireblocks-based custody and settlement setup, written to be handed to a regulator.

Documents under NDA Read the case
Strategy and research 5.0 on Upwork

iVest Club: research for an India and Asia crypto product launch

A bilingual survey of Indian retail investors and the strategy report that reshaped the product’s messaging and membership tiers.

Documents under NDA Read the case
Licensing documents 5.0 on Upwork

NexusFTx: exchange licensing stack for Hong Kong and the Bahamas

Business plans, a financial model and AML/CFT controls for a crypto exchange applying for licences under Hong Kong’s SFC regime and the Bahamas DARE Act.

Documents under NDA Read the case
Licensing documents

CP Global Asset Management: MAS licensing for a digital fund manager

The full documentation set for a Singapore fund manager moving from registered to licensed status to launch a robo-advisory platform.

Documents under NDA Read the case
Token design

T-1000 Exchange: dual-token model and subscription revenue

Two tokens with separate jobs, a subscription model that feeds them, and a buyback that ties the token to exchange revenue.

2 samples to view Read the case
Token design

NestEgg: emission and liquidity model for a DeFi rewards token

A supply model for a farming-rewards token, with a month-by-month measure of how likely holders were to sell after launch.

2 samples to view Read the case

How a project runs

Most engagements follow these four steps. Work starts after a 50% first milestone.

  1. Brief

    Day 0–1

    A short call or intake form. You share the deck, roadmap, token purpose and what the document needs to achieve.

  2. First draft

    Day 2–5

    An outline or first model with the reasoning written next to it. We iterate in comments on the live document.

  3. Build

    Day 4–8

    Full model or document: unlock stress tests, valuation, compliance mapping or visuals, depending on the scope.

  4. Delivery

    Day 8–10

    Final files, a recorded walkthrough of the logic, and the agreed feedback rounds.

Questions

The ones founders ask before a first call.

How long does a project take?

A tokenomics model usually takes 5–7 working days. Whitepapers and licensing stacks take around 10. The biggest variable is how quickly inputs and feedback come back.

How does payment work?

Work starts once the first milestone is paid, which is 50% of the quoted price. The balance is due on delivery.

Can I use the model to raise money?

Yes. Models are built to be shown to investors and exchanges, with the allocation logic, unlock calendar and treasury runway visible and traceable.

I already have a token. Can you review the model?

Yes. A model review and rewrite is often the most useful work: fixing allocations that concentrate too much supply, or re-fitting unlocks to a roadmap that has changed.

Do you write smart contracts?

No. I document what your technical team builds. If there is no technical team yet, I can draft a high-level technical narrative for an MVP, staking, AMM or DAO design.

Can you work without a finished product?

Yes. Go-to-market narratives, financial models and use-case maps are often most useful before the MVP is live.

Which licensing regimes have you worked with?

Mainly MAS in Singapore (CMS licences), the SFC in Hong Kong (Type 1 and Type 7) and the Bahamas DARE Act. Other regimes are possible if your counsel shares the framework.

Do you offer ongoing support?

Yes, through the monthly fractional arrangement. It suits early-stage teams that need tokenomics v2, narrative updates or compliance input as things change.

Have a project, idea or problem worth discussing?

Tell me what you're building and what the document or model has to achieve. Every enquiry is read and answered by Kshitij himself.

You work directly with Kshitij Chitransh, CA, from first call to final file.

Emailhello@encume.com
Prefer to talk firstBook a 15-minute call
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