Binance CEO Richard Teng argues that token generation events (TGEs) and airdrops must evolve to benefit retail investors, moving beyond their past limitations. He highlights the shortcomings of traditional models in fostering sustainable participation. Teng emphasizes that low-float, high-FDV launches often leave users feeling disengaged while short-term speculation is encouraged by airdrop mechanisms. Instead, he advocates for a shift towards balanced launch structures with higher token floats and lower fully diluted valuations (FDVs) to promote genuine community engagement and long-term alignment between projects and retail investors. Teng believes this evolution is crucial to fostering healthy market practices that benefit both industry participants and their communities in the long run.