TOKENS

They allow communities to govern themselves, their economics, and rally a community in powerful ways that will allow open systems to flourish in a way that was previously impossible.

I invest in protocols, not companies. The token is the network.

Not every token captures value. The job is finding the ones that actually do.

At the crux of the matter is how do we ensure that token holders, the people who own the project, the people who control the project, the people who should be making the decisions, are able to very clearly express their preferences as to what should happen within the project.

The market cap of the protocol always grows faster than the combined value of the applications built on top of it.

We decided to build a venture firm around tokens instead of a hedge fund, because we wanted to be long-term owners of these networks.