A lot of people on here (CT) shrieking that [redacted] should have turned down a buyout from [S&P 500 constituent] and - what? - stayed & fought to their death to make all the people that no longer want to trade NFTs & memes reconsider? Make them trade NFTs & memes at gunpoint?
The irony is these same folks are using this as unequivocal evidence that we are participants in an unserious industry writ large
Ummm, actually, you are the most unserious of all
The natural order is ~50% (min) failure! You all are same ppl that wanted liquid instruments ASAP!
The perhaps even larger irony is that token recap is honestly one of best possible outcomes, all else equal. In no world would this restructure have been possible except the world where...[S&P 500 constituent] picks up the slack for compensating the eng talent appropriately!!
Part of the deal is aligning incentives long-term:
💰 100% of marketplace fees now go to the TNSR treasury (previously 50%)
🔥 All Labs + founders’ unvested tokens (21.6% of supply) will be burned today
🔒 Founders are relocking vested tokens for 3 more years
🛡️ @0xrwu + @ilmoi both remain on the Security Council to support continued growth of Tensor Protocols
Times like this make it very easy to tell whomst has never participated deeply in a serious, maximally outcome oriented organization.
Perhaps you just thought NFTs would be much more of a thing on much quicker of a timeline? Perhaps focus on being less extractive & grow the pie?
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