Why Tokens Trade at a Discount

Description

Are DAOs starting to hit their limits? In this episode of Unchained, Ryan Yi (ex-Coinbase, Coinbase Ventures, and CoinFund) and Felipe Montealegre, Co-Founder and CIO of Theia, join Laura Shin to unpack one of crypto’s biggest structural debates: tokens vs. equity. The conversation centers on the controversial proposal from the team behind Across Protocol to retire its token and offer holders an equity exchange or buyout. The move highlights a broader tension across crypto as projects discover that DAO structures can complicate partnerships, contracts, and revenue agreements with institutional partners. Ryan and Felipe break down the economics behind the proposal, how token holders compare to equity investors, and whether crypto projects should rethink when a DAO makes sense and when a traditional company structure may be better. They also zoom out to examine how token markets work today, why many protocols may be undervalued, and how the industry might better separate DAO governance from corporate execution. #Crypto #DeFi #DAOs #Tokens #VentureCapital #Web3🔗 More: unchainedcrypto.com/dexinthecity/ 🐦 Follow us: http://twitter.com/Unchained_pod #DeFi #Crypto #SEC #CFTC #Aave #BestExecution #Regulation #Mastercard #Binance #CryptoLaw