DAOs aren't companies. Tokens aren't stocks.

If Aave launches a new token then its FDV will go down by more than the FDV of the new token (maybe not immediately but certainly over time)

a lot of FDV comes from the hope that teams will create additional business lines that benefit the token — you don’t want to send that to…

Launching new tokens for new business lines is a grift

Did Amazon spin out AWS into a new company? Did Apple launch a separate stock for AirPods? Obviously not.

Investors back protocols for both their current business and future potential. Splitting tokens does the…

0xLouisT

DAOs aren't companies. Tokens aren't stocks.

https://x.com/0xLouisT/status/1900954475080114331