Flashbots Strategy Director Hasu: 90% of crypto projects should not issue tokens

ChainCatcher News, Flashbots Strategy Director and Lido Strategic Advisor Hasu stated in a post, "The worst thing is not that token holders don't care about the project, but that those who think they know how to run a company and actively intervene are the token holders. What is infuriating now is that many investors are forcing startup teams to conduct buybacks, pushing for unproven incentive mechanisms, and proposing various governance ideas that can destroy the value of startups, resulting in a massive loss of value.

If I were to start a business in the crypto industry today, I would never recommend issuing a token before being ready to 'go public.' Treat the token as an IPO, and even then, try to keep the founders in full control of the company. Almost every founder now regrets issuing a token, because at the time they were swept along by what seemed like a wave of 'cheap capital,' but now that cheap capital has shown its fangs and is biting back.

In the crypto industry, the downsides of 'going public' and losing control over one's finances are severely underestimated and under-researched issues. 90% of crypto projects simply should not issue tokens."