Tokens aren't shares. They never were.
It's a bet that the team sticks around.
And with
@axelar $AXL it's "here we go again"
1ā£
@circle acquires
@interop_labs (the team behind Axelar).
2ā£Team gets paid.
3ā£Token holders get "community governance."
This is the token vs equity problem:
⢠You funded the project
⢠You took the risk
⢠You have no claim on the exit
Tokens aren't shares. They never were.
"Remains independent and community-governed" = the people who built it are leaving for greener pastures.
Yes,
@CommonPrefix steps in as lead dev now. And they can leave too. Nothing obligates any team to stick around and grow the value of your bags.
Until crypto solves this, every token is a bet that the team sticks around - with zero contractual obligation that they will.
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