代币经济学指南：识别优质项目的六大关键因素

The research of Shanouba Bitcoin Trading Network shows that the tokens in the cryptocurrency crash in 2000 are now dead. It is estimated that nine out of ten blockchain projects will also fail. The average life of tokens is only one month. With such a low success rate, I want to share my thoughts to identify projects that may survive and flourish. The problem is that there are too many projects, but our time and energy are limited. It is of course great to spend a few days studying a token, but cryptocurrency is developing rapidly, so we should save money for decision-making. Some energy. That's why I focus on the really important part of token economics. According to Sinek, few people or companies can clearly explain why they do something. This is more applicable to encryption projects and their tokens. It seems that projects emerge every day according to the dominant narrative at that time. I believe it is very important to spend some time to understand why the project should issue tokens before investing in tokens. This can be broken down into three questions: why should the project issue tokens? How does it work? What function does it have? In fact, I believe that most projects don't need tokens at all to run. Think about whether the following projects really need tokens to run and the aggregator mortgages the stable currency lending agreement. The vampire attack, for example, may force people to issue their own tokens, which has been troublesome for some time, but thanks to the potential revenue sharing, it has finally started to make sense. In any case, most projects will be issued. There are obvious reasons for raising money, establishing communities and guiding liquidity. Many agreements regard tokens as only fund-raising tools. Obviously, they will not say so publicly, but great projects are those with deeper reasons for the existence of tokens. These are well-thought-out functions, and it is not so obvious to allocate ownership and power. Who decides which tokens to include or where to reward, how to allocate risk management, who evaluates risks, and who bears the responsibility if the agreement is insolvent? The future utility option was originally used as community fund-raising. The tool is launched, but it will add functions to disperse the agreement and transfer the ownership to the community in a planned way. Before investing, it is necessary to understand the real reason for the project to issue tokens. This is not only for the purpose of fund-raising, but also to analyze how the token ecosystem works. It may be complicated, especially for projects that use innovative game theory. Each project provides an explanation of token economics in its document part, and it is more challenging to find out how to operate, which is easy to understand and thorough. Design has flywheel effect, a virtuous circle to promote the adoption, use and appreciation of tokens, which will create a positive feedback loop to strengthen the ecosystem of tokens. It may be one of the most replicated designs to encourage long-term holding of incentive liquidity and attract other agreements to build on it, but please remember that token designs are different in complexity, some are deliberately complicated to deceive investors, while others provide unique innovation and create value. After all, if you don't know, your challenge is to distinguish the two. Where does the income come from, then you are the pledge of income, which may be the simplest and most useful function of tokens. If the project tries to reward users for airdropping tokens in the ecosystem, it will be a strong value proposition, such as considering or, however, sometimes there will be a kind of token so unique and different that it changes the track of the industry. The originality of token economics can push the industry forward and open a new bull market to find tokens that are valuable to the holders and understand the root of the existence of tokens. After the reasons and how it works, it's time to find out how tokens create value for investors. We don't want examples of tokens without any use cases. The most popular examples of payment fees, income sharing fees and discount governance agreements used for liquidity risk management are agreement fees, income sharing or some projects have integrated tokens into the core functions of the agreement, for example, their design is on the rise, rewarding users for their enhanced and partial agreement income and positioning themselves as income points due to success. The mining center benefits from the increase of adoption rate and other indicators, and also gives users the right to vote to decide the incentive distribution. In a word, the economic design of tokens is simple, and the value growth is straightforward. The ratio of evaluating demand and supply mechanism to evaluating market value and fully diluted valuation is low, which means that more tokens will be released to the market, thus putting downward pressure on prices. I agree that it will be a popular stalk in the short term. Look at the recent statement. But you may not want to hold these tokens when the bear market strikes. In the end, the real demand should offset the increase in supply. My current thinking about this cycle is that in the short to medium term, as long as the main unlocking is still a month or more, it is more important to evaluate the token allocation. By understanding the token allocation, we can evaluate the long-term potential of tokens. There is no simple answer to the optimal allocation ratio. It varies according to the project and the dominant narrative at that time. I still remember the fair start of team allocation. Everyone is concerned about the fact that too much team allocation will lead to selling, but too little team allocation will also lead to problems, which will weaken the financial motivation of team building. In the first part of his blog article, he wrote that it is a mistake to give the tokens to the community except for responsibility and expectation. Don't do this. I am stupid. It seems that the trend of fair start is out of date at present. The latest attempt is tokens, but all of them have rapidly expanded and disappeared for a long time. With the method of short-term holding, I focus on medium-and long-term holding, so I am looking for a token team and distribution contract with a long-term linear unlocking schedule without a big cliff unlocking and a higher ratio. If you focus on short-term trading, you should master token analysis tools to check the proportion of whales holding tokens. You should also check whether tokens are locked in smart contracts or kept in a single wallet address, for example, the shares held by the former holders in total are actually locked in pledge for special project instruments. Find out who holds the tokens and where they flow, assess the actual liquidity, check whether there is a real demand for tokens and whether it can be purchased. Don't just rely on the transaction volume, because cryptocurrency exchanges are notorious for cleaning transactions, buy and sell tokens from themselves to create an illusion of demand. Look at the depth of liquidity on or to assess the real liquidity, sometimes there are unique token designs, but the liquidity is low, which means that big investors who can push up the price can't enter the token. What part is the last? It is the function of tokens, such as voting pledge access. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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