Coop
@coopahtroopa.eth
Is it just me or does pretty much every well-established wallet seem extremely against launching a token? I understand most of these products are profitable in the absence of a token but feels like a massive opportunity for someone to really lean in here and capture a significant amount of mindshare https://x.com/phantom/status/1875247758271189413
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Nick Smith
@iamnick.eth
I also don’t understand the hesitance, especially given most wallets are historically pretty bad at creating a community around their product/brand (bar a few) I assume it’s probably some regulatory risk aversion type scenario but if done well I think a token could act as a good way to reward users and attract new ones
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Zeen Train
@zeentrain
I think the hesitance is quite well founded. - We don’t quite know how governance and tokens “work” yet. No one has gotten it right, why bet the house on this? - Plenty of tokens are effectively useless now such as Arbitrum, GMX, DyDx when everyone was so excited for them - Voter atrophy is hard and we haven’t solved it - Regulatory risk is an issue as well
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Nick Smith
@iamnick.eth
You don’t have to introduce a “governance” token and it probably doesn’t make sense to with a product that hasn’t found PMF. Not enough teams are experimenting and thinking creatively about what a token could unlock tbh @jesse’s progressive decentralisation post is a good framing I think when it comes to increasing community participation https://variant.fund/articles/progressive-decentralization-a-playbook-for-building/
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