Stephan
@stephancill
I think I’ve come around on tokens. They are great for addressing misaligned incentives - something that the online social platform landscape is riddled with If there ever was a project that should have had a token it would be farcaster
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Stephan
@stephancill
Inb4 “hurr durr what would the token do” It doesn’t have to do anything the same way publicly traded stocks don’t really do anything
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Stephan
@stephancill
As a matter of fact, the less utility the better Forces people associate the value of the token with the protocol as opposed to weird fundamental analysis
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Royal
@royalaid.eth
stocks underlying value is tied to cashflows in the form of profit entitlement, to say nothing of the legal standing they grant. Tokens don't have an underlying value if they are just, straight up, tokens. You can obviously extend this, steth being a good example, but saying stocks "don't do anything" is a little overly simplistic IMO
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ted (not lasso)
@ted
what makes you think that publicly traded stocks don’t serve a function?
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Jacob
@jrf
stocks are primarily for owning residual profit and voting control over board
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Chris Carella
@ccarella
Or could follow the Uniswap playbook and grant holders voting rights over protocol upgrades, fee parameters, and treasury usage. Doesn’t seemed to have slowed Unis growth or product development. Would not effect Warpcast app. Protocol updates are done these days with consensus and people ultimately deferring to Merkle leadership. It could use a delegate system where they push aligned delegates. Very little would have to change.
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Hoot 🎩
@owl
For retail it doesn’t mean much, but institutional investors actually get a shot at influencing a projects high level decision making. In the case of (meme) tokens most often you don’t get any influence though, unless they promise utility or they turn into a DAO
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Apex777
@apex777.eth
Correct. Tokens create noise.
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Samuel ツ
@samuellhuber.eth
cc @matthewfox
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