Is it just me or does pretty much every well-established wallet seem extremely against launching a token?

I understand most of these products are profitable in the absence of a token but feels like a massive opportunity for someone to really lean in here and capture a significant amount of mindshare

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Is it just me or does pretty much every well-established wallet seem extremely against launching a token?

I understand most of these products are profitable in the absence of a token but feels like a massive opportunity for someone to really lean in here and capture a significant amount of mindshare

https://x.com/phantom/status/1875247758271189413

Onchain is the new online - FID 206 -  cooprecords.xyz

I also don’t understand the hesitance, especially given most wallets are historically pretty bad at creating a community around their product/brand (bar a few) 

I assume it’s probably some regulatory risk aversion type scenario but if done well I think a token could act as a good way to reward users and attract new ones

Building @withfam Prev. Co-founder @ Talisman ✴︎ Member @ FWB, Refraction, The Park, UFO ✷

You don’t have to introduce a “governance” token and it probably doesn’t make sense to with a product that hasn’t found PMF. 

Not enough teams are experimenting and thinking creatively about what a token could unlock tbh

@jesse’s progressive decentralisation post is a good framing I think when it comes to increasing community participation

You don’t have to introduce a “governance” token and it probably doesn’t make sense to with a product that hasn’t found PMF. 

Not enough teams are experimenting and thinking creatively about what a token could unlock tbh

@jesse’s progressive decentralisation post is a good framing I think when it comes to increasing community participation 

https://variant.fund/articles/progressive-decentralization-a-playbook-for-building/

I think the hesitance is quite well founded. 
- We don’t quite know how governance and tokens “work” yet. No one has gotten it right, why bet the house on this?
- Plenty of tokens are effectively useless now such as Arbitrum, GMX, DyDx when everyone was so excited for them 
- Voter atrophy is hard and we haven’t solved it 
- Regulatory risk is an issue as well