If you’re a web3 founder, know that you should never agree to fixed token allocations for investors. 

Market standard is for token allocations to be dilutable, which is critical for maintaining flexibility for future fundraisings.

Fixed token allocations are predatory.

Call with a Euro VC this morning:

Me: Please waive your non-dilutable token rights.
EVC: Why?
Me: It limits flexibility for future financings.
EVC: Eh, who can predict the future?
Me: It creates bad incentives.
EVC: Eh, we have a different model.
Me: It's off market.
EVC: Eh, every deal has this.

Beware of bullshit.