Interesting stuff docs.injective.network/devel…

it's truly over, isn't it?

I feel equity backed tokens might be something which is still a very underrated idea. I don't mean in a sense where we start tokenizing the existing companies. Instead in a way where every newly launched token by a crypto project also allows people to redeem the equity of the company behind that project, the equity can be used to redeem the token as well. It would instantly add a lot more value to the token and the token/equity would be instantly tradable across the world without the need of any middlemen while the wall street is also able to access it easily. Likely complicated implementation at first, but should be possible.

Pretty much no project actually needs a new token to function and most of the time it’s a design choice driven by financial incentives. Some chains work fine without their own token like Arbitrum (ETH) and Noble (USDC). Many PERP DEXes were fully functional even before having a token. Network Fee? Design Choice. Governance? Design choice. Literally any utility you can possibly add? Likely design choice, maybe there are rarely any exceptions. Tokens aren't really valuable for their utility, we should stop pretending they are. They’re valuable because of the value they return to holders or the marketing hype their teams create around them. It can also apply to shares of real life companies. The companies sell their shares to raise money to build their business and the crypto projects sell their tokens to build the project. If a company/project can’t return value to holders through dividends, buybacks, staking rewards, or similar ways then the token is basically useless. The real life company shares at least give you ownership of the company if you own enough but that's not true in case of tokens. Nowadays most projects have a legal entity behind them anyways. Maybe we should normalize equity backed tokens which generate holder value more instead of any utility larps.