DeFiance Capital CEO Criticizes Token Incentive Strategies

According to Odaily, Arthur Cheong, the founder and CEO of DeFiance Capital, has voiced his criticism of token incentive strategies on an unnamed platform. He expressed his concern that these strategies are merely large-scale pick-up artist (PUA) tactics employed by project teams. Cheong pointed out that during the DeFi Summer, these strategies were unable to outperform actual token incentives. He also mentioned that Pacman's Blur created points for the more vulnerable NFT community, a strategy that is now being replicated by all project founders. Cheong stated his disapproval of such practices. He criticized the practice of giving people a large number of 'junk' points, publicly revealing the total supply in a non-transparent manner, and the ability to devalue at will. He also highlighted that while the project continues to collect revenue from its usage, it can use this metric to raise substantial VC funds. Cheong's comments reflect a growing concern within the industry about the transparency and effectiveness of token incentive strategies.