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I hope that Coinbase and Tensor announced some type of compensation for TNSR tokens. In either case, it should be completely obvious to everybody by now that Onchain / Internet Capital Markets don't work without tokenholder protections.
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These things just made me sad
Nov 21, 22:45
Some serious dissonance between Coinbase "coining" everything and paying token holders "nothing" in their Vector acquisition (built by Tensor)
> TNSR token holders just had their best asset stripped and got ~$0 in return
> If this continues, people will just stop buying tokens
The entire TNSR circulating supply was <$30M on Monday
If you paid investors / team through equity, you can probably negotiate them out of the holder base
It's probably <$10M for retail holders who bought this with their savings to benefit from Vector / Tensor / team
@brian_armstrong I believe you should give this problem some thought over the weekend
You cannot believe in Onchain Capital Markets and think this is an appropriate acquisition structure
What's the disconnect?
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