tokens with equity might be the biggest scam we've allowed to exist this long
tldr: we should shame anyone raising/selling equity and/or sending huge amounts of token revenue to labs entity
just a few that i know, some light research
OP Labs + Foundation: $178M VC equity (at $1.65B val) + sold $116M+ OP privately (token sales). Now pushing OP Enterprise services + dev contracts which is controlled by labs. (Base gave $16M+ before forking away). Token down only.
AAVE: Ongoing development, but Kraken raise for equity, tens of millions being drained from AAVE to fund the labs entity. Zeller left over this
Uniswap Labs: $177M VC equity + $133M+ fees direct to the labs company. Token was pure governance/regulatory theater for years. Bull case was always “maybe revenue someday”
Offchain Labs (Arbitrum): Similar story to OP - but locked in real rev share partners who can’t easily fork because the code comes with the business relationship - so there's SOME revenue, but still....
Matter Labs (zkSync): Same pattern, huge equity raise, no revenue, etc.
Polygon Labs: $450M private MATIC token sale (VCs buying tokens directly) + now raising equity for payments pivot.
having a token doesn’t mean you need DAO-led inefficiency and governance theater (which is what most of these teams blame underperformance on)
you just shouldn’t be able to sell equity, sell tokens, dilute everyone for years, then come out with “we’ll do buybacks now" and then all of the revenue is gone and/or being actively sucked out by equity
The Global Dollar Hub is now live on Aave V4.
It's the first new Liquidity Hub since V4's launch, live on @ethereum and built for @global_dollar USDG-correlated assets.
@hotpot_dao >curate an investor base that’s in it for the long term
>give known grifter like Kook max allo who regularly scams his followers for $5K-10K bc he’s friends with bread
@bread_@zachxbt@hotpot_dao You asked people to share proof he was a scammer and then ignored all the replies showing clear evidence of scams, beyond just paid shills.
This is the most ambitious project we have ever backed
Except it will never trade above its opening tick in all of human history
“Yeah fellas tbh we are trying to max extract on this one.”
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