3 Key Flaws in Crypto Token Design: Governance Failures, Airdrop Chaos, and Value Mismatch
The Tokenomics Crisis: Why Most Crypto Projects Get It Wrong
1. Governance Tokens That Nobody Governs
Let’s start with the elephant in the DAO: 98% of airdrop recipients never participate in governance (Binance Research 2025). We’ve created a generation of ‘governance tourists’ who treat voting rights like concert confetti—pretty to look at, then immediately discarded. Case in point: After L2 projects announce airdrop snapshots, cross-chain bridge usage drops by ~40% within weeks.
2. The Airdrop Mirage
Speaking of airdrops—remember when we thought free tokens would magically create loyal communities? The data shows otherwise:
- 78% of ICO-era projects were outright scams
- Only 15% survived long enough to list on exchanges Even ‘successful’ models like Synthetix’s liquidity mining failed to sustain engagement beyond initial hype cycles.
3. Value Capture vs. Utility: A False Dichotomy
Projects like Axie Infinity tried separating speculative assets from utility tokens… until their dual-token systems imploded spectacularly. Here’s why:
- Traders flooded utility pools seeking higher yields
- Incentives became misaligned (farmers ≠ users)
- Both tokens eventually merged back into single assets
The silver lining? Market maturity is emerging:
“Tokens with higher initial circulation (>30%) and reasonable FDV (<$2B) now outperform ponzinomics” - My analysis of 2024-25 launches
Pro Tip: Next time you see a protocol burning tokens instead of sharing revenue, ask: Is this real value creation or financial theater? cough Hyperliquid’s $8M burn cough.
HermesChain
Hot comment (4)
98% holder không biết vote là gì Các DAO giờ như hội ‘du lịch quản trị’: nhận airdrop xong biến mất tiêu! Dữ liệu cho thấy sau snapshot, cầu cross-chain giảm 40% - rõ ràng là dân chỉ thích free token chứ không muốn làm việc.
Airdrop? Toàn là ảo tưởng! 78% ICO là scam, 15% sống sót được lên sàn. Ngay cả Synthetix cũng không giữ nổi liquidity sau khi hype tàn. Lesson learned: token free chưa chắc đã tốt!
Value vs Utility - Trò đùa của thị trường Axie Infinity phân chia token thành hai loại… để rồi sụp đổ thảm hại. Kết cục? Hai token lại nhập làm một. Đố bạn biết dự án nào đang lặp lại sai lầm này?
Các bro nghĩ sao? Comment số lượng token bạn đã nhận airdrop mà chưa bao giờ động vào governance nhé!
เหรียญคริปโตที่ออกแบบมาแบบ “ก็อปปี้ไม่ได้ดู”
โทเคนกำกับดูแลที่ไม่เคยได้กำกับ เหมือนเลือกตั้งนักศึกษา 98% มาแค่รับของแจก แล้วหายไปเลย (ข้อมูล Binance จริงจริ้ง!) แบบนี้เรียกว่า “นักท่องเที่ยวการเมือง” มากกว่าครับ
เหรียญแจกฟรี = ฟรีจริง แต่ไม่มีค่า สถิติบอกว่า 78% เป็นโครงการหลอกหลวง เหลือรอดถึง exchange แค่ 15% แถม Synthetix ที่ดังๆ ยังเจ๊งไม่เป็นท่า
แบ่งเหรียญสองแบบ แล้วพังสองต่อ ตัวอย่าง Axie Infinity ที่แบ่ง “เทรด” กับ “ใช้งาน” สุดท้ายก็ต้องมารวมกันเหมือนเดิม เพราะชาวนามุ่งแต่ขุดแลกเงิน!
สรุป: โปรเจคไหนเผาโทเคนแทนแบ่งรายได้ นั่นคือ “ละครการเงิน” ไม่ใช่สร้างมูลค่า ( cough* Hyperliquid $8M cough* )
คอมเม้นต์ด้านล่างว่าคุณเคยเจอโทเคนแปลกๆ แบบนี้ไหม? หรือว่าโดนมาเต็มๆแล้ว 😂
Governance Tokens na Walang Naggo-govern!
98% ng nakatanggap ng airdrop, parang mga turista lang—dumaan, kumuha ng souvenir (token), tapos alis agad! Loko talaga ‘to! 😂
Airdrop Chaos: Libreng Tokens, Walang Loyalty
Akala mo magic ang libreng tokens? Eh 78% nga ng ICO-era projects scam pala! Parang lottery na puro “;Sorry, try again”; ang labas. Sayang ang pag-asa! 🤦♂️
Value vs Utility: Parehong Lugi!
Ginawang dalawang tokens para “maganda”, pero nag-merge din pala sa huli. Parang love team na break agad after concert! Hahaha!
Kayo ba, anong crypto fail ang pinaka-nakakatawa sa inyo? Comment nyo na! 🔥
Governance ที่ไม่เคย Govern จริงจัง
เห็นตัวเลข 98% ไม่โหวตใน DAO แล้วอยากกรี๊ด! เหมือนแจกตั๋วคอนเสิร์ตแต่คนเอาไปอุดรูรั่วนั่นแหละ 😂
Airdrop สวรรค์ของนักเก็งกำไร
คิดว่าแจกฟรีแล้วจะรักกันยาว? 78% ของโปรเจคคือหลุมพราง ส่วน 15% ที่เหลือก็รอดแบบแทบขาดใจ!
คู่แท้ Tokenomics ที่เลิกกัน
ระบบสองโทเคนสุดคลาสสิก…จนต้องกลับมารวมกันเหมือนดาราที่เลิกกันไม่ได้! มันส์ตรงที่ “ชาวนากับเทรดเดอร์” มันคนละเรื่องกันชัดๆ
ทิปส์เด็ด: ถ้าเห็นโปรเจคเผาโทเคนแทนแบ่งรายได้…ถามตัวเองก่อนว่า “นี่ปาร์ตี้ไฟหรือโรงละคร?”
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