Decentralized AI's Fatal Flaw: Why Single-Token Economics Are Unsustainable

This analysis exposes a critical design flaw plaguing the entire decentralized AI infrastructure sector. When a single token tries to simultaneously serve as both a billing system and an equity instrument, it creates an inescapable 'subsidy treadmill'—networks must continuously overpay contributors to remain competitive, indefinitely delaying sustainable unit economics. For investors and infrastructure builders, recognizing this structural problem is essential to evaluating which platforms can survive the transition from subsidized growth to real profitability.