The most interesting thing about the proposal is the team's willingness to continue to iterate and experiment on ownership structures despite feeling seemingly entrenched.
What this proposal doesn't mean is that tokens should not exist. It means that there are certain people who believe a token structure doesn't make sense for the Across protocol at this time.
Crypto has way too many tokens. Probably 99% of all tokens were launched in the last two years as organizations pushed memecoins, creator coins and other forms of speculation very aggressively. That was a catastrophic mistake.
Tokens often do have function. They are easier to utilize in crypto than equity, and they are also easier to manifest a representation of decentralized governance.
Tokens are not bad or pointless. Tokens that don't have any economic value associated with them are. There are still many use cases where equity (even tokenized equity just simply does not work).
These distinctions matter.
Congrats to the Across team on this proposal. Tracking closely!
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