#隐私币生态普涨 TSL's trap equity play is actually quite interesting when viewed in the crypto circle.

Now many projects distribute tokens to the team as soon as they launch. The story sounds fantastic, and the money is in hand first—whether the product can be implemented or if users will pay for it is another matter. This "drawing a pie and cashing out" approach can indeed attract a wave of hot money in the short term, but in the long run, it cannot support real value creation.

Looking at how TSL operates, the equity isn't issued from the start; it has to wait until the market value reaches a certain level and stabilizes for a period before it can be unlocked. Moreover, getting the money depends on hard indicators—whether revenue has increased, whether profits have been made, whether products have been delivered, all of which are quantifiable metrics. In the end, it's up to the shareholders to vote on whether to grant it, and if the team wants to receive more, they have to push themselves to improve performance.

What if Web3 projects could be played this way? Token releases are linked to market performance and bound to product data, which might filter out teams that only tell stories, leaving behind projects that can truly create cash flow and use value.

It's time for the industry to shift from "narrative-driven" to "product realization." $ETH $DOGE