Carlos(@0xcarlosg):A deeply underappreciated advantage of ownership coins is that investors only have to underwrite the fundamentals of the business. For 95%+ of tokens, you spend nearly as much time analyzing whether the token captures value as you do analyzing the protocol itself. Picking the right business is already hard enough. If being right on the fundamentals still does not guarantee value accrual to the token, that asset deserves a significant discount.

2026.07.10 17:12

A deeply underappreciated advantage of ownership coins is that investors only have to underwrite the fundamentals of the business. For 95%+ of tokens, you spend nearly as much time analyzing whether the token captures value as you do analyzing the protocol itself. Picking the right business is already hard enough. If being right on the fundamentals still does not guarantee value accrual to the token, that asset deserves a significant discount.