#代币经济学与设计 Seeing the details of Lighter's upcoming TGE, I want to honestly discuss the things behind the tokenomics design with everyone.

This time, the amount of information is indeed substantial—50% allocated to the community, 25% of the total supply released during the initial airdrop, a three-year vesting period for investors, and fee reflows used for ecosystem development and buybacks rather than dividends. This framework looks very clear, but I want to remind everyone that a well-designed framework doesn't necessarily mean the execution will be robust.

What moved me the most was the clarification regarding "Witch Hunt" and "Hidden Rewards." They said there are no special incentives based on identity, nor are there backend gameplay mechanisms. This sounds sincere, but we all know that the rules of the game often test the fairness of execution and long-term verifiability. Accounts that have had points deducted, appeal mechanisms—these details determine whether you can truly trust the entire system.

Another point I pay close attention to is that the token is not a dividend-paying asset, and this is very important. This means the logic of value accumulation is entirely different. It’s not about simple methods like "giving you a small fee share every month," but about ecosystem growth, product expansion, and broadening use cases. This takes time and also requires the team’s continuous delivery.

I suggest that before participating, you ask yourself a few questions: Is the project's three- or five-year product roadmap clear? What are the risk contingency plans in extreme situations? What is the basis of your trust in the promise of "value ultimately flowing back"? Don’t be blinded by the hype of TGE. Safe investing isn’t about missing opportunities but making informed choices with a clear understanding of the risks.