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hot take: pre-product tokens are a distraction, and should be avoided until you have built out the stickiness in your product. 

The bandwidth you've to give to manage the community + price action can be better used elsewhere

unless you make token non-transferable, like @morpho did for ~2 years

seriously considering it for /commit at the right time — you build and reward your most loyal users while not letting price distract you.

no transferability = no price action = no distractions

Earn, Borrow, Build on Morpho 
/morpho and app.morpho.org

Morpho had a non-transferable token onchain for 2+ years. Not points, the actual token. More teams should do this. Self-selects for users who care about ownership and are more long-term.

The ticker is $MORPHO.

After 2 years, the $MORPHO token is now transferable. Having the token nontransferable allowed to build strong relationships with power users and long-term players in the space.

But now it seems this is the time for Morpho to fly with its own wings. $MORPHO transferable is unlocking completely new ways to empower the Morpho Ecosystem.

I suggest MORPHO holders to delegate their tokens to delegatees they trust that will help shape the future of Morpho via https://delegate.morpho.org

PS: beware of scammers and take your time before executing any tx pls 🙏

https://warpcast.com/merlinegalite/0x72ce13c4

When Morpho Optimizer, Morpho’s first protocol, reached PMF, many urged us to launch the MORPHO token.  

At the time, I strongly opposed this idea. Despite becoming a multi-billion dollar protocol, we lacked a clear path to truly disrupt  lending in defi and beyond.

Now that Morpho (Blue) has also achieved PMF, and there are no foreseeable scaling limits to this model, I'm excited for the MORPHO token to become transferable on Thursday!

https://warpcast.com/paulframbot/0x981f7e96