15/11/2018 Update: I changed a “Supply Structure” to “Token Structure” in the pillar of Token Design.
Lastly, we have token design. Token design is the last step that gels everything together: the incentives. Token design is everything that involves the token, for example, how are the tokens used to incentivise specific behaviour, total supply, and token governance.
Why should I care? Is this even important?
What should I take note of?
How do I get started?
What is the true purpose of a token?
Why do you need a decentralised network for your product/project?
(From previous mechanism design) What incentives are you giving to the users?
What is the ideal token design structure you’d like? You can reference physical world rates like inflation rate, allocation (% in banks, % in households, % in reserve, etc), distribution schemes (via earning, via dividends, via charity, taxes & reallocation, etc), and total supply.
- (Might not be applicable to everyone) Are you pegging your token valuation to a real currency? What is the possible limitation to that?