Tokens with equity do not work

"There's no project that's so good that it can overcome this misalignment of incentives." The equity holders are the largest holders of the token. The incentives are aligned. "We have to update our mental models for the times" Indeed

Preach

What's your proposal?

either only have a token or only have equity

Counterpoint I guess would be ripple?

Definitely not a counterpoint. Ripple socializes all of their corporate overhead onto XRP holders, while privatizing all the value creation for Ripple Labs shareholders. The token has zero claim to anything Ripple does, yet everything Ripple does was entirely capitalized via the token. See divergent stock price vs token.

@MikeIppolito_ It’s still more successful than all, but three other tokens 🙈

@MikeIppolito_ Entirely due to misinformation and faux hype from carnival barker Garlinghouse and social media slop merchants to low information retail; not any actual fundamentals of the token.

@MikeIppolito_ I would never claim there are strong fundamentals

Chainlink is token forward in this respect

Yes. Long gone are the days when an investor would buy a token without any real backing and then it would just magically go up. The industry is maturing, and tokens MUST be connected to the equity that holds IP and accrues value. None of the tricks work, and even buybacks are not enough. We are working on bringing equity-backed tokens to life.

Return to fundamentals.

@nftboi_ We agree. Token with equity also make fundamental analysis meaningless.

> Tokens … do not work FTFY

Absolutely agree! @adamjgmiller @0xThriller @intangiblecoins @galaxyhq @MIDAODS Alex had his research team smash this banger out late in 2025.

+1

SPX6900 unironically fixes this

Hyperliquid

Look into #SPX6900 A worldwide, decentralized, friendly movement onchain, on social media (incl. multiple podcasts) and IRL (incl. meet ups and Conferences).

Fully agree, SAFE+SAFT was the worst "invention" for the markets.

XRP is what he is talking about. The biggest scam coin of them all

@JasonYanowitz Put a perp into it so people can effectively milk the downtrend is basically way to go Every asset market in history that doesn’t make sense but somehow survives till today, the secret recipe is derivatives

Yeah they do. @useKled is already doing it using @StreetFDN

Tokens+equity is not good. Equity tokens are good. Besides that, tokens have to have an innate mechanical or economic use case within the system. For most governance tokens, the use case became where to slosh treasury money. Payment tokens or buy-back and burn is not much better.

So all tokens would now be securities

tokens that are equity work.

Teams need to treat their token as the equitable representation of their project. It can be done, but token and equity have to become synonymous.

Until tokens have the same legal protections as equity with the same value then equity will always be supreme

hundred of thousand [...] points (^^ゞ

@ChainLinkGod 👑

Most of the potential upside for equity investors is still constrained to base:0xacfe6019ed1a7dc6f7b508c02d1b04ec88cc21bf doing well over the next four years.

@pantheonvaults

Yup @AskVenice @ErikVoorhees base:0xacfe6019ed1a7dc6f7b508c02d1b04ec88cc21bf

Agree and one of the reasons token + equity has persisted is that there was no great way to do token only until recently. MetaDAO, Umia, and others are changing that. Without a credible structure for token only (to legally hold assets and for market oversight), rug risk is high. So VCs want equity for legal claims. Over time value drifts to equity holders.

would be great to end with a proposal! good video format. would be useful to have captions next time for those people on the subway

metadao solves this

@CatfishFishy Wild how long it’s been this way. Theres a few gems with token only. $LINK being one of them

Short the shit out of base:0xacfe6019ed1a7dc6f7b508c02d1b04ec88cc21bf every single pump