RWA advocate warns most tokenization projects suffer from a "broken token" problem, where business revenue and asset value accrue offchain while token holders receive no economic upside

𝕏/@ZeusRWA •

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$26.7B ex-stables was already tokenized by RWA.xyz in March, and the cleanest products are still asset tokens like BUIDL, USDY and OUSG where NAV/yield accrues inside the instrument. Project tokens sit in a much uglier bucket: if they want Maple-style 25% revenue-funded buybacks or fee sharing, that has to be written into the operating company/SPV waterfall, not waved through with DAO governance. Otherwise CT is just underwriting distribution for an offchain asset manager and hoping the ticker memes its way into capture.

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RWA advocate warns most tokenization projects suffer from a "broken token" problem, where business revenue and asset value accrue offchain while token holders receive no economic upside

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Dankrad Feist argues Ethereum needs a new, well-funded organization that is economically aligned with ETH and accountable to the community, since the EF holds little ETH and lacks ongoing revenue.

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Phantom captures 31.8% of top Hyperliquid builder revenue with $20.6M in fees

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