The AI token Yuan on the Solana platform is facing a severe test, with key tokens related to open-source projects experiencing a sharp crash in their prices. The $GAS token associated with Steve Yegge's Gas Town framework plummeted over 97% from a peak of more than $60 million in market capitalization after Yegge clarified that the token does not confer any ownership or control rights. Other tokens launched by BagsApp, such as $RALPH and $VVM, also experienced similar crashes, exposing the structural contradictions between meme coin speculation and developer autonomy: holders bear the downside risk but lack formal economic rights.
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The AI token Yuan on the Solana platform is facing a severe test, with key tokens related to open-source projects experiencing a sharp crash in their prices. The $GAS token associated with Steve Yegge's Gas Town framework plummeted over 97% from a peak of more than $60 million in market capitalization after Yegge clarified that the token does not confer any ownership or control rights. Other tokens launched by BagsApp, such as $RALPH and $VVM, also experienced similar crashes, exposing the structural contradictions between meme coin speculation and developer autonomy: holders bear the downside risk but lack formal economic rights.