Machi, also known as Jeffrey Huang, said in a post on X that the PAPER token appears likely to remain non-transferable for a relatively long period. Under that setup, fee-sharing income would be the only current source of investment returns for holders. He also said that as token supply increases, each holder’s share of fee distributions could be diluted over time. Machi added that because PAPER has no team token allocation, issues such as token value, dilution, and exit liquidity matter more to holders than to the team. In his view, fee revenue distribution is the part that keeps incentives aligned between both sides. He ended by saying there is still room to address the issues he raised.
According to Odaily, Machi, also known as Jeffrey Huang, said in a post on X that the PAPER token appears likely to remain non-transferable for an extended period.
He said that, under the current structure, fee-sharing income is the only way for holders to earn investment returns for now. He also noted that as token supply increases, holders’ share of fee distributions may be diluted.
Fee income is the current return channel for holders
Machi said PAPER has no team token allocation. Because of that, token value, dilution, and exit liquidity matter more to holders than they do to the team. He added that fee revenue distribution is the part where incentives remain aligned between both sides.
He ended the post by saying there is still room to solve these issues.
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