Is 15% float too little? Going by the VC/ YC disruption hypothesis, the first round of fundraise usually entails 10-15% dilution. And teams usually raise 2-3 rounds before TGE. Virtuals Genesis v3 flips this model. Community gets to buy in the first round of 15%, then as valuation grows when product/ traction matures, VCs can come in liquid or via OTC raise. All the while, volatility and volume drive fees for the team. Discerning Virgens decide who is still building and deserve higher, or jeet the quitters. Crypto was made for this kind of experimentation in capital formation.