Decentralized Masters has completed what appears to be the DeFi education industry's first independent audit conducted by a regulatory-supervised financial institution. The results establish a transparency benchmark that competitors will now be measured against.
CONQUEST Investment Advisory AG, a German wealth management firm supervised by BaFin (Germany's Federal Financial Supervisory Authority), analyzed every recommendation made through Decentralized Masters' Gems Uncovered™ research sessions since the company's 2023 inception. The findings: an 87.60% win rate at minimum 20% gains, with 445 of 508 verified signals meeting that threshold.
The average performance to all-time high was 575.86%, reached in an average of 101 days.
The Numbers
The CONQUEST audit examined performance distribution across all 508 recommendations:
- 54.33% doubled in value
- 6.50% achieved 10x performance
- 2.76% achieved 20x performance
- 2 signals never reached an all-time high after recommendation
That last figure matters. Decentralized Masters insisted the audit include every recommendation, including the failures.
Why BaFin Supervision Matters
CONQUEST didn't simply accept data from Decentralized Masters and verify formatting. The auditors independently cross-referenced every entry price against multiple authoritative sources—CoinMarketCap, Refinitiv, CoinGecko, and CoinCompare—to ensure accuracy and prevent manipulation.
When company-provided prices couldn't be verified, CONQUEST calculated averages from multiple external sources. Recommendation dates were cross-referenced to confirm signals were documented when given to members, not retroactively adjusted.
"We chose CONQUEST specifically because they're supervised by BaFin," Co-Founder Tan Gera explained. "That provides additional accountability through regulatory oversight. The methodology has been openly disclosed – exactly how they validated entry prices, determined all-time high dates, and calculated returns. Anyone can verify CONQUEST's BaFin registration through publicly accessible German regulatory databases."
The 27-month audit period covered both the 2023 bear market recovery and the 2024 bull market surge, demonstrating that the research methodology performs across market conditions rather than only during favorable periods.
Multi-Layer Verification
Tan Gera acknowledges that independent audits, while necessary, aren't sufficient on their own. Decentralized Masters has built verification into multiple levels of its operation.
The company's 4,000+ members can independently verify any recommendation from the audit against their own records or platform archives. All Gems Uncovered™ research sessions are recorded and archived, preventing retroactive claim modification. Internal systems automatically timestamp recommendations, track entry prices, and monitor subsequent performance.
"With 4,000+ members, discrepancies would be immediately flagged," Tan Gera said. "Anyone can verify entry prices and all-time high dates through public blockchain data and cryptocurrency price aggregators. The 400+ verified Trustpilot reviews provide independent perspectives on whether members actually experience the value claimed. Media coverage in Forbes, Nasdaq, and USA Today provides additional credibility validation from editorial teams conducting their own due diligence."
The company maintains a team of 35+ full-time analysts who document complete research methodology for each recommendation, all available for member review.
Education Platform vs. Investment Firm
Co-founder Salim Elhila drew a clear distinction between how traditional investment companies are audited versus DeFi education platforms.
Investment firms face legally mandated audits examining fiduciary compliance, custody controls, trade execution, client fund segregation, and regulatory adherence under SEC and FINRA oversight. Education platforms undergo voluntary audits – when they conduct them at all – focusing on research accuracy, recommendation documentation, and performance claim verification.
"The CONQUEST audit verified research recommendation accuracy, performance claim substantiation, timestamp integrity, and member delivery documentation," Salim Elhila explained. "But it appropriately did not examine client fund custody or trade execution, because Decentralized Masters operates as an educational platform rather than an investment advisor."
This distinction matters for a critical reason the audit explicitly confirmed: Decentralized Masters members control their own assets. This structure insulates members from the platform collapse risks that destroyed customer wealth at FTX and Celsius.
Why Voluntary Audits Matter
Without audit verification, investors have no objective way to distinguish legitimate research from marketing hype.
"The audit reveals systematic rather than luck-based performance," Salim Elhila said. "Verified results across market cycles and institutional-grade analysis processes provide confidence that learning the methodology transfers to independent capability. Sophisticated investors wouldn't invest in companies without audited financials. The same principle applies to education."
He was direct about limitations: "The audit doesn't eliminate investment risk. Markets remain volatile. But it does eliminate uncertainty about whether the education provider actually delivers claimed results."
In an industry still recovering from the trust destruction caused by FTX, Terra Luna, and Celsius collapses, voluntary transparency becomes a competitive differentiator. Using BaFin-supervised auditors positions Decentralized Masters ahead of potential regulatory requirements that may emerge as the crypto education space matures.
Accessing the Audit
The complete CONQUEST audit report is available to prospective members by contacting a Decentralized Masters membership director. Current members can request the report through their assigned membership director.
Both Tan Gera and Salim Elhila maintain direct oversight of research operations, and have committed to periodic third-party validation even without regulatory requirements mandating it.
For an industry where unverified claims are the norm, that commitment sets a standard others will find difficult to match, or ignore.