L1 & L2 Token Value Capture - DBA
If it’s tied to the creator, the income from everything that they build should flow into the token. But if it’s tied to a set of work, the creator is free to start new business endeavors without feeling like they’ve already sacrificed a significant portion of their equity. That then leads to another set of considerations. If all of a creator’s exis... See more
Alana Levin • Bowie Bonds as Early Creator Tokens
-LLCs were one of the best inventions of the 19th century. But I believe it's run its course. It's not working well for a whole bunch of reasons, including that you end up with very concentrated wealth on these networks. What's so beautiful about tokens is you can design these very granular systems where people are rewarded tokens for using the sys... See more
Chris Dixon • The Potential of Blockchain Technology
Yet these two roles are in opposition to each other. A token needs to be exchangeable in order to be liquid. But the more liquid a token is, the less effective it can be as a pure signal of reputation.
Andreessen Horowitz (AZ) • A Novel Framework for Reputation-Based Systems
Network “revenues” do not accrue to all token holders (some are captured only by miners or stakers, while others - like the fee burn - are captured by all token holders)