Most Tech accelerators value startups at $300K to $1M for companies without a MVP, valuation often goes to $3M for companies with a MVP with some early revenues or no revenues. Then there's often a pre-seed round after where companies raise $1 to $3M, on a $5M to $10M valuation. Series A, at least in Silicon Valley is usually meant to assessing market scalability & unit economics which mean the product is normally in a decent state for customers onboarding. When it comes to a web3 company, scalability is often vastly superior to normal tech companies because speculators are mixed with your real users, so tokens can sometimes reach billions+ of valuation only after a year or two after their public launch. So, valuation on tokens is often 10X that of equity. What I propose in financing through a dividend scheme on revenue generated instead of the token, should be evaluated more as a normal tech company valuation technique. However, in this case you'd have to factor in that you may not have an exit event, so maybe it's worth even less to potential investors, while on the other hand it's more liquid which can be more valuable to certain type of investors looking for passive income.