Ignas Criticizes KAST Token Plan: Massive Legal Compliance Investment, But Users' Actual Returns Remain Unclear

Odaily reports: DeFi researcher Ignas has published a critique of the growing dominance of legal counsel in the crypto industry, citing Coinbase CEO Brian Armstrong's view that lawyer-led companies may avoid getting into trouble, but may also lose their ability to innovate as a result.

Regarding KAST's recently announced points conversion plan, Ignas stated that even if the project team spends millions of dollars hiring lawyers, what users will ultimately receive remains unclear. Tokens often fail to align with community interests and may even become tools for the team or insiders to extract value, lacking ownership and other legal rights. However, tokens may still offer functionality that equity cannot provide. Ignas called on project teams to invest resources in designing tokens that truly align with community interests, and listed KAST alongside Pump, OpenSea, and MetaMask on what he called a "disappointment list," arguing that these projects' previous promises have not been fulfilled.