Tokenomics.net

Smart contract audits are giving web3 founders a false sense of security. The audit covers the one part of the stack you control. Every oracle, bridge, RPC and API you plug into is code you didn't write, can't audit, and any one of them can move your users' money. "Is it audited?" was probably the right question five years ago. The real question is what your code trusts, and what that thing trusts after it. List every dependency you'd have to trust on a bad day. That list is your real attack surface. Follow @TonyDrummond for daily web3 insights.

Nobody's getting rich off tokenization. They're getting rid of paperwork instead. Every business case I look at says the same thing.

@itsadilashfaq @TonyDrummond Appreciate the support! 🫡

@Tokenomicsnet Hello babies, just followed the page. Love for the guy building from a basement in Chicago @TonyDrummond

Everything you need to know about $ONDO tokenomics in under 5 minutes. Ondo Finance tokenises US treasuries and US stocks. Roughly $3.6B of assets sit on the platform today. The business is supposed to earn on those assets.

The structural read. Ondo sits in the tokenization category with the clearest institutional demand, and it holds the leading position in tokenized stocks. The counterweight is the design itself: - Holders have no claim on fee income, and the fees are mostly waived anyway. - The steepest part of the unlock curve is still ahead, between months 24 and 48. - Value accrual runs through governance only, and governance does not currently vote on revenue. Follow @Tokenomicsnet & Drop the one you want us to take on next.

Valuation - Price: $0.386 - Circulating market cap: $1.88B - FDV: $3.86B - Float: 48.7% A revenue multiple would be meaningless here, because no protocol revenue reaches the token. What the $1.88B is pricing is governance over the largest platform in a category that is growing, plus whatever probability the market assigns to that changing.

I've worked on 100+ projects. It's rarely the product that fails. It's the business no one bothered to run. @StephenRCovey  nailed this decades ago. "Begin with the end in mind." What are you actually trying to build? Back up from there and work out what it really takes. Most founders never do that. They think in isolated tech and isolated products, never the whole business as one thing. Thoughts?

Are banks losing their monopoly for paying you to hold money? One sentence in the CLARITY Act lets stablecoin rewards be calculated by your balance and how long you hold it. Balance times duration. That's the math behind bank interest. Banks spent months trying to delete it. The July 22 draft wrote the permission in explicitly. No yield for just parking a stablecoin. But activity rewards live, and they can scale with how much you hold and how long. They said the ban was about protecting lending. The White House modelled it in April: the ban lifts bank lending by 0.02%. Two billion dollars, most of it to the biggest banks. That was never about lending. It was about who gets to pay you for holding a balance. Still a bill, though. Follow @TonyDrummond for daily web3 insights.

Pumpfun spent over $400M buying back $PUMP. The token still barely moved. 4 checks tell you if a buyback has real impact. 🧵

At 18, I was sweeping the floor of a printing press room. So when I tell you nothing is stopping you from building, I know what I'm talking about. You can have the idea. Build the team. Ship a real product. And with AI, it's never been easier. I've watched people with no experience build real things. They just got out of their own way first. The only thing left in your way is your own head. The story you keep telling yourself about why not. Drop it. Start building.

4 ways to spot a web3 provider that will torch your budget, before you pay them a cent: 🧵

Stop getting hyped over token buybacks. 🛑 If a buyback isn't matching real volume, mathematically it does nothing for the price. $1M buyback vs. $365M volume? That’s 1/365th. Zero impact. Here is how to spot a real buyback model👇 Follow @TonyDrummond for daily web3 insights.