In the tax token mechanism, issuers should write the 'reason to hold' into on-chain rules, not just group announcements. Traders should treat it like a meme with cash flow terms: first check which bucket the tax goes into, whether the bucket is verifiable, then decide if it's for playing the curve or waiting for dividends after maturity. No-tax tokens are still the default speculative tools; tax tokens are tools for redistributing fees. When the distribution rules are transparent, it's a mechanism; when the rules are vague, it's just a more expensive trade.