A recent analysis reveals that 91% of the top 150 cryptocurrency protocols generate on-chain revenue, yet less than 1% disclose market-making terms. While 8% of these protocols publish investor reports, the majority fail to provide structured communication for institutional audiences. This gap highlights a significant disconnect between data availability and investor relations in the crypto industry. The study evaluated 13 disclosure metrics across over 150 protocols, finding that only Meteora publicly discloses market maker arrangements. Despite the maturity of third-party data platforms, which cover 72% of protocols, the industry struggles with transparency. The Token Transparency Framework, launched in June 2025, has seen limited adoption, with only 13 protocols participating, predominantly from the Solana ecosystem and DeFi sector. Furthermore, 38% of protocols have mechanisms for active value accrual, outperforming governance tokens by 19 percentage points in one-year returns. However, the lack of comprehensive investor communication remains a critical issue, as evidenced by the Novora Investor Relations Benchmark Database's findings.