Better yet, token holders should band together and demand partial returns for projects that are over funded w. rise of ETH price. Potential way to test limits of token holders rights.
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So in my hypothetical above where founders allocate themselves additional shares post-ICO, your position is existing token holders have no rights? I think this is far from clear.
If the token is bought, and assurances are made (like future dilution), then extra dilution could be actionable. That's a right. But in the donation structure, I don't see any recourse. Under what contract or regulation do you see token holders having rights?
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The "donation" structure is just a fake name people use to avoid securities laws. That's gone. There are tons of things they could try to sue for, eg, unjust enrichment.
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Are you the seasteading guy?
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I am the seasteading guy. (Also very interested in blockchain as another way to disrupt entrenched power structures with a decentralized alternative dependent on good governance tech)
End of conversation
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