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Founders with large treasuries who's companies are obviously a failure and lack PMF should not be allowed to slowly grift the treasury via salary to subsidize their lifestyles. Winding down should be celebrated, and founders should be rewarded for doing the right thing.

@ThinkingUSD Why would they give up their M$ paycheck? All holding companies have same issue.

@ThinkingUSD This is a much better approach than a slow bleed out to zero

@ThinkingUSD Nobody wants a graceful wind down, they want two more years of salary and a rebrand.

@ThinkingUSD dead projects holding onto cash is the real scam lol

@ThinkingUSD Great take. Begs the question-why is there so much dead capital in crypto? Does the long term cardano holder have so much fu $ that he'd rather just keep it there than deal w taxes?

@ThinkingUSD not how dead capital works lol

@ThinkingUSD The 10% carveout is what makes this realistic. Give founders a clean exit and token holders a liquid asset instead of funding the slow bleed

@ThinkingUSD Very smart idea. @MetaDAOProject ICOs decision markets allow for liquidation of treasuries Very investor friendly

@ThinkingUSD A graceful wind down beats zombie treasuries sitting idle for years

@ThinkingUSD The blocker is usually structural: token holders often have no legal claim on the entity's treasury, so any distribution is discretionary. Until that's fixed at the docs level, winding down stays a founder's choice.

@ThinkingUSD This is, actually one of the best ideas I’ve ever seen lmao it’s obvious, but it’s rad

@ThinkingUSD 🎱-‘

@ThinkingUSD but they'll never do this, will they?

@ThinkingUSD graceful wind downs beating years of dead capital limping along should honestly be the default playbook, not the exception

@ThinkingUSD who decides the 10% split between team and token holders?

@ThinkingUSD Programmatic treasury liquidation eliminates dead capital. Hardcoding burn-and-redeem contracts allows failing protocols to distribute reserves deterministically, protecting token holders from slow extraction.

@ThinkingUSD What counts as a dead crypto company though? Like zero product or just no price action

@ThinkingUSD The uncomfortable part: some “communities” are really just exit liquidity waiting for a team to admit the experiment is over.

@ThinkingUSD Finally, a voice of reason.

@ThinkingUSD Dead capital should have an exit path If the company is finished the treasury should return value to the people who funded it

@ThinkingUSD @Cardano_CF please consider

@ThinkingUSD $BULLIEVE would never let holders down like that

@ThinkingUSD If 90% of the remaining treasury goes out in BTC, holders get a liquid asset instead of another vote on a token nobody wants to buy.

@ThinkingUSD Altruism is surely why they launched in the first place ;)

@ThinkingUSD The treasury math works but liquidation is the problem. A dead company holding $BTC on its balance sheet can't distribute without triggering taxable events for holders in most jurisdictions. The 10% team carve-out becomes a forced sell just to cover compliance costs.

@ThinkingUSD Would be a lot healthier than another pivot to whatever is trending that quarter. At least the balance sheet does something.

@ThinkingUSD The real skill isn’t raising the treasury. It’s admitting the product is dead and returning the capital as BTC before the team salaries finish the job.

@ThinkingUSD Binance, coinbase and other exchanges should also stop subsidizing these projects. There are so many projects that ONLY exist because they are still listed on a major cex and the team can print tokens and sell them there.

@ThinkingUSD They are salary farmers

@ThinkingUSD @ethereum please consider

@ThinkingUSD Didn't realize you could subtweet every 2017/18 era ICO like this! x.com/Genia_XBT/status/2092722…

@ThinkingUSD Letting failed projects buy BTC with treasury and wind down gracefully is such a boring, sensible idea that it'll never happen. The industry would rather let dead capital shamble around as a zombie token for another two years.

@ThinkingUSD Agreed

@ThinkingUSD $sui coded