"Should DeFi Issue Its Own Tokens?" Yearn founder Andre Cronje asks the community

Yearn founder Andre Cronje initiated a Twitter poll on the 14th asking, "Should everything have a token?" This sparked a lot of discussion. While this is an old topic, what are people's views in 2021? We have compiled some opinions up to this point.

Andre Cronje's Confusion

Yearn founder Andre Cronje seems to be grappling with the idea of issuing tokens for a new protocol, and this is not the first time he has been troubled by the relationship between development and community.

"Kaiynne, the founder of Synthetix, began talking to me about tokens and decentralized autonomous organization (DAO) ideas, convincing me of their applications in collaboration, protection, and community-building tools."

"Should I unreservedly launch tokens and let them thrive in a survival-of-the-fittest environment?"

https://twitter.com/AndreCronjeTech/status/1415160479912284160

Voting Status and Opinions

As of the deadline, in a survey of nearly two thousand votes, nearly 70% of people believe that tokens should be launched.

Renowned DeFi investor Danger @safetyth1rd

Danger said, "I think Sushiswap, Curve, and MakeDAO have built much better communities than Uniswap because of tokens. It is obvious that some thought must be put into the role tokens play, but it becomes extremely powerful, and it has been proven to be an effective way to generate user interest in projects."

AC responded, "But Uniswap also has tokens."

Danger replied, "It's not a very good token right now. It lacks farming, profit-sharing, and only has governance capabilities. Perhaps it can evolve into something more meaningful, but it is not a good token design paradigm."

The Block Research Director Larry Cermak @lawmaster

Larry said, "I also changed my mind last year. One benefit you didn't mention is that it's an excellent way to facilitate product financing, with global investment and early rewards. Early support and seeing value grow is the best community builder."

He went on to say that if a token circulates in a perfect free market, the strongest will prevail, which also represents the strongest community consensus. For him, even completely useless tokens can accumulate value because you are betting on the token development team to find value in it.

Andre Cronje Continues to Accept Suggestions

Andre Cronje appreciates the community's feedback and stated that he will organize his thoughts and improve token economic design. The feedback he is organizing includes:

• Team rewards
• Long-term lockups
• Profit-sharing mechanisms
• Widespread distribution