Yeah but, in my mind, value cannot be created.
During the locking period, your bitcoin is illiquid so it has less value, and this delta is represented by this new tokens. It checks out.
But after the locking period ends, I have my Bitcoin liquid again, + some more tokens that have non-zero value. So I have more than before overall.
IMO the tokens should expire when the locking period ends, similar to how options do.
The fact that I reduced the liquid supply of Bitcoin in the past does it really matter in the present? Intuitively I would say no.
