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The author argues that the term “Crypto” has lost its meaning because it no longer refers to a specific asset class. For example, the MKR token exhibits both stock-like and fixed-income characteristics, and the DAI token also has fixed-income characteristics. Therefore, categorizing assets as stocks, fixed income, and “Crypto” is meaningless. “Crypto” is merely a database technology rather than an asset class. Hence, the best approach is to completely abandon this term.

This article introduces the points model that is very popular before blockchain projects issue coins.