There are so many DePINs without tokens. Nowadays, launching a token seems incredibly easy. We have pump.fun.

Obviously this is a bit tongue-in-cheek, they have to manage reward distribution, supply schedule, and more advanced tokenomics.

Why do you think it’s taking projects so long to launch tokens? Are they just delaying the inevitable because they think the token won’t perform, or waiting for better market conditions (which seems like now)?