Breaking down why crypto projects are no too early to commit to buybacks, and why in fact they have to do buybacks, plus thoughts about how modern tokens should approach issuance 1. The first mistake of the FWA team was to not give themselves any token at the onset. Adam was right he deserves to be paid for his good work, but by not giving himself a meaningful initial allocation, he misaligned his interests with the interests of token holders 1a. If teams commit to their tokens, they themselves should want to be larger holders and better aligned stewards of the projects 2. The "use to earn" token model is innovative and promising, it's worth while to combine this issuance scheme with pump fun style bonding curves to solve for both initial liquidity and users/holders 3. Crypto projects do not have the same economics as Web2 projects, most successful projects have favorable economics that support high buybacks from day 1 4. All tokens should be 100% liquid and vested immediately, let the market set price, no more toxic multi-year vesting structures