Lido Strategy Advisor: 90% of Crypto Projects Should Not Issue Tokens

On December 11, Hasu, director of strategy at Flashbots and strategic advisor to Lido, wrote, "The worst thing is not that token holders don't care about the project, but those who think they know how to run the company and actively intervene. What's outrageous now is that many investors are forcing startup teams to engage in buybacks, push unproven incentive mechanisms, and come up with various governance ideas that will destroy the value of startups, resulting in a large amount of value being destroyed."
If I were to start a crypto business today, I would never recommend issuing a token before it is ready to go public. Treat the token as an IPO, and even then, try to keep the founder in full control of the company. Almost every founder now regrets issuing a coin because they were carried forward by the seemingly "cheap capital" wave, but now the cheap capital is showing its fangs and eating itself back.
In the crypto industry, the downsides of "going public" and losing control of one's finances are a seriously underappreciated and under-studied issue. 90% of crypto projects should not issue tokens at all. "