Web3
Tze Donn Ng’s Token Framework Weighs Belief Against Protocol Cash Flow
TokenPost·November 2, 2026·1 min read
Tze Donn Ng's token framework weighs belief against protocol cash flow, offering a qualitative approach to valuation. Examples from Hyperliquid, Pump.fun, and Sky illustrate how revenue links can function differently across protocols, providing a nuanced view of token economics beyond traditional metrics.
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