@tylerabbott

Team token allocations and vesting schedules must be incorporated into valuation as dilution effects. Linear releases increase circulating supply, gradually reducing per-token value. Analysts can model “dilution-adjusted cash flows” by projecting future supply and redistributing fee revenue or utility across a larger base. High team allocations amplify this effect, especially if vesting aligns with major unlocks. By applying dilution rates into discounted models, investors can anticipate true per-token earnings power. Ignoring these factors risks overestimating sustainable token value, particularly in early-stage ecosystems.

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