Empire

Are DATs Sustainable, Stripe Launches Tempo & WLFI’s Token Launch | Weekly Roundup

9 snips
Sep 5, 2025
This week, the discussion dives into the mechanics of decentralized asset tokens (DATs) and their implications for market stability. The hosts highlight Stripe's exciting launch of Tempo and its strategic focus on distribution. There's also a spotlight on World Liberty Financial’s token launch, delving into potential market concerns and unique features of its app. The conversation wraps up with an exploration of the future of tokenized US equities and how blockchain is shaping financial services. Enjoy the compelling insights!
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INSIGHT

DAT MNAV Compression

  • MNAVs for many DATs are collapsing and some strategies trade well below 1x NAV.
  • That compression reflects fragile token economics and uneven market confidence.
INSIGHT

DATs Create A Prisoner’s Dilemma

  • DATs create a coordination game where individual arbitrage gains can socialise downside across holders.
  • More large DATs for one underlying worsen incentives to arbitrage and can accelerate price compression.
ADVICE

Limit DATs For Smaller Tokens

  • Avoid creating multiple DATs for smaller-cap tokens; one per token is preferable for mid-tier assets.
  • Excess DATs fragment liquidity and increase volatile, illiquid price swings.
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