What is your favorite ICM token design? A major criticism of ICM tokens today is that they don't meaningfully benefit when the underlying business succeeds. Even if a company grows revenue 10x, the token often doesn’t reflect that growth at all. There's no direct link between the business doing well and the token going up. My favorite example is Hyperliquid. It’s one of the few tokens that functions like a pseudo-equity. Since Hyperliquid uses over 95% of its revenue to buy back $HYPE, owning the token is essentially a bet on the business making more money and gaining market share. If revenue increases, buybacks increase, and the token price responds. It’s one of the only ICM tokens where upside is clearly and mechanically tied to performance.