Our founding engineering team is going to be capped at 3 or 4 max engineers, and to get 20% you need to take a pay cut. So far people have generally taken the higher cash offers. The token grants on those translate to 4-8%, which is still more than typical.

It also depends a lot on the person, I have a pretty high bar for "exceptional": https://steve-yegge.blogspot.com/2008/06/done-and-gets-thing...