The Top Things Investors Need to Know Before Buying Crypto Tokens - Unchained Recap

Podcast: Unchained

Published: 2026-03-19

Guests: Ryan Yi, Felipe Montalegre

What Happened

Adaptive Security, backed by OpenAI, is pioneering efforts in cybersecurity to combat threats like deep fakes and synthetic identities. This marks a significant step in addressing emerging risks in the digital space, particularly for investors in crypto tokens.

Felipe Montalegre, co-founder and chief investment officer at Theia, emphasized the importance of long-term investment strategies over early token trading based on narratives. Theia focuses on projects with solid revenue and earnings fundamentals, reflecting a shift towards more mature investment approaches in the crypto market.

The Risk Labs Foundation has proposed transitioning Across Protocol from a DAO to a company structure, offering token holders equity in exchange for their tokens. This move is intended to facilitate enforceable contracts and improve revenue agreements, highlighting challenges DAOs face with institutional partnerships.

Aave's recent proposal seeks to centralize control by unifying its equity and token under one ticker, simplifying business decisions. This move comes amidst regulatory changes that allow projects to associate more openly with their tokens, demonstrating a broader industry trend towards integrating token and equity structures for streamlined operations.

Hart Lamper from Across Protocol is working on agentic payments, aiming to make transactions free for users by having stablecoin issuers cover the fees. This innovative approach could redefine cost structures in crypto transactions, providing a more user-friendly experience.

The podcast also discussed the inefficiencies of having multiple tokens for different products, as noted by Felipe Montalegre. This practice contrasts with equity markets and is seen as a hindrance to streamlined operations and investor clarity.

MetaDAO presents a hybrid model balancing leadership and accountability, allowing CEOs to lead while major decisions remain with token holders. This model addresses the slow decision-making and lack of leadership often criticized in DAOs, offering a potential path forward for effective governance.

The industry is evolving from early-stage ventures to more mature phases, akin to moving from series B to series C/D in venture capital. This transition emphasizes growth, token holder rights, and the need to build trust in the token economy, highlighting the maturation of the crypto investment landscape.

Key Insights

• Adaptive Security, backed by OpenAI, targets AI-generated threats like deep fakes, marking a significant development in digital security. This initiative is crucial for the crypto industry, where synthetic identities pose substantial risks.
• Theia, co-founded by Felipe Montalegre, focuses on long-term investments in revenue-generating crypto projects, contrasting with narrative-driven token trading. This shift reflects a more mature investment approach in the crypto space.
• The Risk Labs Foundation's proposal to transition Across Protocol from a DAO to a company aims to improve contractual enforceability and revenue agreements. This restructuring highlights the challenges DAOs face in forming institutional partnerships.
• Aave's initiative to unify its equity and token under one ticker is a response to regulatory changes, aiming to simplify business operations. This reflects a broader industry trend towards integrating token and equity structures for efficiency.