Token Do's and Don'ts
web3 with a16z crypto
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The Role of Tokens in Decentralized Protocols
This chapter examines the critical functions of tokens in decentralized protocols, emphasizing their role beyond mere currency. It contrasts historical web protocols with current challenges and showcases how tokens can facilitate ownership, governance, and incentivize participation in emerging Web3 ecosystems. The discussion also addresses regulatory complexities and the need for clearer definitions of decentralization to support innovation and consumer protection.
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