Here's how to start with Token Engineering and Cryptoeconomics.
This thread is a summary from @trentmc0's introductory talk at the #tokenengineering workshop.
#Cryptoeconomics #Blockchain
This thread is a summary from @trentmc0's introductory talk at the #tokenengineering workshop.
#Cryptoeconomics #Blockchain
1. "Show me the incentive and I will show you the outcome" - Charlie Munger
Token based systems are generally modelled aroud incentives and outcomes.
Token based systems are generally modelled aroud incentives and outcomes.
2. When doing #tokenengineering for a system, first step is to define/list the participants/ stake holders of the token economy system.
3. Next step is to define incentives and outcomes for each of the participants. These are also the gives and gets for the stake holders.
4. Based on points 2 and 3 above, ask yourself and design "What would be the simplest thing that could work?".
Crypto systems need not be complex. If we can develop a balance between the incentives and outcomes, we are good.
Crypto systems need not be complex. If we can develop a balance between the incentives and outcomes, we are good.
5. Iterate over point 4 to optimize.
