What if the right way to think about project coins isn't as equity but as bonds? 

Obviously the infrastructure needs to exist, but I haven't seen anyone talking about this analogy. Equity investors are loathe to dilute ownership, but perhaps this is the right path forward for projects that raise $ via tokens.

What if the right way to think about project coins isn't as equity but as bonds? 

Obviously the infrastructure needs to exist, but I haven't seen anyone talking about this analogy. Equity investors are loathe to dilute ownership, but perhaps this is the right path forward for projects that raise $ via tokens. 

https://www.reuters.com/technology/telegram-secures-330-million-bond-sales-2024-03-18/

Elevating onchain creators 

@nodefoundation @brightmoments 
@ampsfun

phil

treating project tokens like bonds instead of equity could reduce dilution worries and shift how we see value and risk fr