Are Crypto Tokens Fundamentally Broken?

This week on Hivemind, the team debates one of the biggest structural questions in crypto: can tokens and equity coexist, or do they inevitably create misaligned incentives? Using recent examples like Venice and Grass, they explore why value capture has become one of the most important topics in the industry.The conversation also covers the current state of crypto markets, Hyperliquid and Synapse, Robinhood's on-chain ambitions, AI infrastructure, open-source models, and why the long-term AI investment thesis remains intact despite recent volatility.TIMESTAMPS00:00:00 Intro & Market Outlook00:09:17 Synapse, Options & Hyperliquid00:20:10 Grass, Revenue & Token Economics00:27:20 The Token vs Equity Debate00:44:55 AI Infrastructure & The Next Trade00:57:20 Why AI Is Still A Long-Term Bull Market🧠 Follow the Alpha▸ Ceteris: ⁠https://x.com/ceterispar1bus⁠▸ Jason: ⁠https://x.com/3xliquidated⁠▸ Yan: https://x.com/YanLiberman▸ Jose: https://x.com/ZeMariaMacedo▸ Kevin: ⁠https://x.com/Kevin_Kelly_IIWatch herehttp://www.youtube.com/@Delphi_Digital🔗 Connect with Delphi🌐 Portal: https://delphidigital.io/🐦 Twitter: https://x.com/delphi_digital💼 LinkedIn: https://www.linkedin.com/company/delphi-digital/DisclaimerThis podcast is strictly informational and educational and is not investment advice or a solicitation to buy or sell any tokens or securities or to make any financial decisions. Do not trade or invest in any project, tokens, or securities based upon this podcast episode. The host and members at Delphi Ventures may personally own tokens or art that are mentioned on the podcast. Our current show features paid sponsorships which may be featured at the start, middle, and/or the end of the episode. These sponsorships are for informational purposes only and are not a solicitation to use any product, service or token.