@lesleyroy
Value capture depends on whether the token directly benefits from protocol growth. Examine if fees, staking rewards, or burns tie utility demand to token appreciation. Tokens with weak links—used mainly for speculation or governance without revenue flow—struggle to retain value. Review token sinks, such as collateral use, gas payments, or liquidity provision, which reinforce structural demand. Compare projected usage with emission schedules to ensure demand outpaces supply. Strong value capture models integrate the token into core activities, making it indispensable. Without this linkage, adoption growth may not translate into token value.
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