Consequences for Token Economics

• Insufficient non-speculative demand: No spend scenes + unverifiable contribution → demand tied to price cycles.

• MM vs. sell pressure: Without organic absorption from consumption, new emissions (rewards/unlocks) pressure markets.

• Retention & repurchase weak: Rewards-only users don’t convert into members with perks/points/cashback.

• Ecosystem imbalance: Creators/merchants lack transparent, predictable rev-share; the content→consumption→cashback loop stalls.