Doing your own research

Every raise on Backable is permissionless. Backable does not review the pitch, call references, or test the demo. Escrow and claims enforce specific fund-flow rules. They do not verify the business or guarantee performance. Use these checks before committing.

1. Who is actually funding this?

The backers module on every raise page ranks commitments by wallet. Concentration is not automatically bad, an anchor backer can be a genuine vote of confidence, but it changes the picture. If one wallet is 60% of the raise, the “142 backers” headline is mostly one person, and their later decisions move the token far more than yours.

Aligned Parties addresses

Some wallets in that module are reserved before the rest of the round is scored. Those Aligned Parties addresses are liquid funds, VCs, high-net-worth aligned parties, and wallets that may also hold a high Ownership Score. The addresses and their commits on this raise are public, so you can see what is already set aside when you read who is funding it.

2. Do the numbers describe a real plan?

• Budget vs goal. Divide the available treasury by the monthly budget when both are current. This gives a runway estimate at the published budget.
• Valuation vs stage. Compare the launch FDV with the company's product, revenue, and market evidence.
• Team share and unlock ladder. Look at what fraction of supply the team holds and at what price multiples it unlocks. Record the minimum lock period and each price threshold before comparing packages.
• Supply to backers. Compare the allocation sold in the raise with the remaining supply and its stated restrictions.

3. Read the risks the founder wrote

The risks section is written by the founder. Compare each risk with the company's dependencies, contracts, market, and use of funds. A specific supplier or concentration risk is more testable than “market conditions.”

4. Verify the identity claims yourself

Domains and X accounts on a raise page can carry a verified marker, which means the founder proved control of them. Verified means the account posted the proof, not that the person behind it is who they say. Click through. Look at whether the X account existed before the raise, whether the GitHub has commits from before the pitch, and whether anyone outside the raise has ever mentioned the company.

5. Let an agent do the first pass

Every raise publishes an agents.md at /raises/<address>/agents.md, the same page as plain text with its raise details and raise terms, built for AI assistants. Each raise page carries a copy-a-prompt button that hands your assistant a diligence brief. The machine-readable set also includes llms.txt, which lists every raise's agents.md, and the raise-sizing and GTM & pitch skills. An agent can collect and compare the published fields. You still decide how to interpret the business and risk evidence.

A reasonable way to size a commitment

Decide the number you would be able to write off entirely without changing anything about your month, then commit that. There is no informational edge to gain by committing more, since everyone pays the same price per token regardless of size.