ScopeLift CEO: 'Regulatory Excuse' for Value-Less Tokens Is Fading
- —DiFrancesco: fear of regulators shaped a generation of tokens with no dividends or buybacks
- —He tied token price to economic security, saying it must exceed the value of protected assets
- —Uniswap cited as an example: protocol fees are used to burn UNI under a governance proposal
- —SEC staff FAQ of Sept. 25: a buyback announcement alone is not a promise of managerial efforts
Why it matters: The SEC's shifting stance on buybacks could push fee-earning protocols to share value with token holders.
Source: Unchained