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Zach
@zd
There's been some discourse about "fair launch tokens" and their use for funding long-term projects. Here are my thoughts on the topic: 1. Comparing token launches as a fundraising mechanism to venture capital is missing the point. People who launch tokens often can't or don't want to raise venture capital, and thus the economics of the team vs. community allocation should be fundamentally different. You should give away *far* more of the fair launch token supply than you would give away equity for a venture-backed company. Different entities need different fundraising mechanisms.
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Jason
@jachian
I’ve been thinking on this topic too and don’t know the form factor yet that makes sense. I like the mechanism for capital formation, but it’s not quite where I want to launch a token for something yet I like the element of a team having skin in the game (ownership of token) and being the beneficiary of it actively changing hands. I still think it’s tricky having it tied to a personal wallet as opposed to being able to allocate it to the equivalent of a business bank account Also think it’s a weird that a token can moon and the team can get a small small venture exit without having done anything for token holders
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Zach
@zd
Hear you. Curious how you would feel if we put this in traditional startup terms: Re: skin the game - don't you want to know who's at the forefront of the company and how much ownership they have? Re: token mooning - do you have the same feeling when a seed company goes from $10M to $100M valuation in a single VC round?
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