For years, crypto projects have launched tokens, often in the name of governance or network security. With this model, token holders have the right to vote on proposals and guide the future of a project in the spirit of decentralization.  Yet oftentimes, these tokens are hardly doing anything meaningful for the value of a project. And it’s probably an outdated way to think about issuing cryptocurrencies in 2025. Recent market activities make it clear that tokens need some kind of utility and buyback/burn strategy to create value.