>All the V3 crypto protocols have exactly as you describe above. However, instead of the money going into the coffers of the company, it goes into a 'Development fund' That will award the crypto to people who have applied and been voted on by the community to launch a project/technology in the protocol.

So you replaced "shareholders" with "developers of cryptocurrencies/beneficiaries of the development fund".

Does a rose, by any other name, not smell as sweet? I mean, from the case you're making, these v3 protocols seem more like securities.

Stablecoins sound exactly like banks. Which means AML/KYC/Reserves on the horizon.

The entire cryptocurrency space recreated the current financial system, rooked in a new generation of suckers (and some old one's that should have known better), did everything current financial product regulations were put in place to prevent, made it as energy inefficient as humanly possible in the case of PoW, but it isn't all that cause it's called something different.

My distinction without a difference alarm is ringing itself off the wall at the moment.