Most people think token distribution is a liquidity problem. It isn’t.
It’s an identity gap.
When protocols don’t know who they’re rewarding, tokens move but they don’t stay. Activity spikes, then fades.
That’s why systems like Sign Protocol matter. They don’t just distribute tokens they filter participants.
Less noise. Lower velocity. Real retention.
If identity isn’t part of the distribution layer, demand won’t compound it’ll just recycle.