I've never sold a token (~$600k net buyer - RIP me)
As the founder, I got ~1% of the supply.
Our company has spent ~$12m in liquidity, yield, bribes, etc since we launched the token in 2022.
Because we launched right before the Ukraine war + LUNA crash - the market cap of our token was anchored high & float was equally high - revenues compressed 99% in 2022 and there was absolutely no way we could support the valuation.
And so we are sometimes used as an example in cases like this; there are a lot of teams like us but most have died off completely (lucky) - as the speculative premium on tokens eroded over the past few years being a founder in crypto has become something like a living hell unless you're in the ~1% that have been able to scale.
A lot of users literally begged us to pump the token somehow - even outright asking us to commit crime (lol).
We were advised several times to abandon the project and start fresh because the high float made us basically uninvestable.
We tried to launch tie-in projects to raise the tide but got swept up in nearly every L2 flop out there.
We did a ton of contract work on the side to fund development.
This is all to say that I don't think users actually care about the fundamental realities of their token holdings, nor do they care about the realities of investing or technology startups.
Everyone just wants to be on the right side of a P&D.
We stuck with it anyway, even pivoted to a higher margin vertical, and now have the privilege of being undervalued for the first time in our history ($CDX is just a re-branding of our original token).
We will probably now spend years re-writing the "token down" narrative.
I won't buy tokens from teams that disregard them.
For many founders, tokens mattered when:
1) They needed funding
2) They needed to boost adoption
After that, tokens became a liability.
Then they're surprised by community anger over poor price performance.
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