@knimkar@solana facts. solana is the best chain to build consumer apps on (see @Collector_Crypt@Pumpfun etc) i think next wave will be kick started by a new consumer trend and its likely going to happen on Solana
Crypto has become weird around value accrual. A lot of holders have been burned by tokens with no real business behind them, so everyone wants hard value accrual immediately. Then Hyperliquid comes along and returns a huge share of revenue to holders, and suddenly that becomes the benchmark.
But Hyperliquid is the exception, not the rule.
Fair critique, but I think it's the wrong way to judge Venice at this stage.
Crypto has become weird around value accrual. A lot of holders have been burned by tokens with no real business behind them, so everyone wants hard value accrual immediately. Then Hyperliquid comes along and returns a huge share of revenue to holders, and suddenly that becomes the benchmark.
But Hyperliquid is the exception, not the rule.
Most companies at Venice's stage should not be returning meaningful capital to anyone, whether equity holders or token holders. They should be reinvesting into growth. If Venice were burning a huge chunk of revenue today, I'd honestly think that was worse capital allocation, not better.
So yes, current burns are small. I agree. But I don't think the burn is supposed to be the demand source today. It's more of a signal that VVV is economically tied to the platform, and it gives the market an on-chain proxy for new paid sub adds, since each tier triggers a specific dollar burn that anyone can see.
The alignment piece matters too. Venice the company sits on tens of millions of VVV in treasury, so it benefits directly from VVV appreciation. Erik's history points the same direction. At ShapeShift, he took a shareholder-owned company and pushed it toward a token/community-owned model, with FOX holders governing platform economics and shareholders receiving FOX with no special privileges. And with Venice, he has explicitly said he wants to burn every last VVV token.
That does not make VVV equity, but it does show he's oriented toward token holders, not against them.
So I'd separate the critique into two questions.
Is current value accrual enough to support the token by itself? No. Agreed.
Is VVV economically linked to the platform in a way that can matter a lot more if Venice keeps scaling? I think yes.
The bet is on the trajectory, not today's burn rate. If we're back here in 12-18 months and Venice has scaled revenue meaningfully but burns still haven't grown, the critique gets a lot stronger. But that isn't today.
Today, I'd rather see Venice reinvest aggressively into growth while keeping the token tied to that growth than crank up burns too early.
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