During DeFi summer 2020, many of the best products, such as Uniswap and Curve, found product-market fit before they even had a token. There were also a few great products that had a liquid token before product-market fit. But they did not use token incentives.
While crypto historically prioritized function over form, the space has more recently emerged as a leader in experimenting with using style as a competitive advantage.
Today, it is hard not to notice the prevalence of equity culture. Every employee optimizes their stocks and options. People frequently move between companies to build a portfolio of equities. Employees of successful startups want to become angel investors. Second-year MBAs want to be founders or VCs. Nobody wants to miss out on the next equity succ... See more