In other words, a token.
If HTLC-locked Bitcoin UTXOs are "tokens," then every Bitcoin payment is a "token" - the word becomes meaningless.
A token is a claim on an asset (WBTC: "BitGo owes me Bitcoin").
Lightning is enforceable possession - Bitcoin locked in 2-of-2 multisig that either party can close unilaterally to the base layer. No issuer. No IOU. No counterparty risk beyond the channel counterparty (who can't steal, only delay).
Calling that a "token" confuses bearer instruments with custodial receipts. Semantic reductionism isn't an argument. Define your terms or concede the distinction.
A token is a claim on an asset (WBTC: "BitGo owes me Bitcoin").
Lightning is enforceable possession - Bitcoin locked in 2-of-2 multisig that either party can close unilaterally to the base layer. No issuer. No IOU. No counterparty risk beyond the channel counterparty (who can't steal, only delay).
Calling that a "token" confuses bearer instruments with custodial receipts. Semantic reductionism isn't an argument. Define your terms or concede the distinction.