Tokens are a non-dilutive alternative to traditional financing
Thoughts on Tokens
Balaji S. Srinivasan

Important to note that “non-dilutive” implies a form of fundraising where founders retain control of the “company”. However, in token sales arguably more control of the “company” is ceded to the public investor.

So non-dilution is attractive and strategic in an equity context, but in a token context it is not really a feature, given a token-based business model.