token-gated channel > token-gated group chat because it allows the value of the group chat to be publicly accessed while participation is still gated 

free and valuable

just as the internet would want

the actual optimum here imo is token-gated write group chat that's publicly accessible to read

punks discord good example

something about Post/reply structure makes the gated channels less interesting to me as a "free and valuable conversation" even if technically true. chats just feel more intimate and interesting