Mippo Says Dual-Class Equity-Token Structures Are No Longer Viable

Blockworks co-founder Mippo said he no longer considers dual-class equity-token structures to be viable. According to Odaily, he wrote on X that there are very few successful examples of this structure and that the number is declining. Mippo said his baseline view is that such structures will continue to exist, but investors will demand increasingly larger discounts due to uncertainty. He questioned why investors would choose products that could be “rugged” at any time due to numerous edge cases and that lack legal protection. Mippo added that issuers now face a choice: decide immediately between equity and tokens, or see value gradually erode.