Justin retweetledi
Fundamentals lets you analyze a token in less than 90 seconds.
Identify a peer group and compare token functionalities with our new filter-first interface.
🧵
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Justin
102 posts
Justin
@W3bonomics
I talk about the economics of Web 3 @JustCryptoecon. Cryptoeconomics @WormholeFdn. prev @Polkastarter, @smithandcrown. Opinions are my own.
Katılım Ağustos 2023
112 Takip Edilen23 Takipçiler
Justin retweetledi
Privacy tokens had seen a resurgence in the last twelve months. But what does privacy token even mean?
Now that the mania has passed, here's how to analyze these assets beyond the narrative. We looked at three "privacy tokens" to break down their similarities and differences.
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Don’t think we talk enough about the potential downsides of the buyback meta. The reason your token didn’t go up might be because those revenues that startups usually reinvest into growth now just sits in a vault that no one knows what to do with
Fundamentals@JustCryptoecon
2025 taught us that systems need to generate value. Then it taught us that value needs to go somewhere the token can actually capture it. But should systems really be shoveling their runway into non-descript treasuries?
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Justin retweetledi
New Token: HYPE
✅No off-chain matching engine. No privileged operator controlling fee routing.
✅Every order, match, liquidation, and settlement is an on-chain state transition.
✅One of the most profitable businesses.
✅Driving value back to its holders.
🧵
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Especially important to consider given all the happenings regarding the Security Council's $71M ETH freeze linked to the rsETH hack.
Interestingly, those funds are now in a wallet controlled by the ARB DAO, such is the ebbs and flows of control across the various stakeholders.
Fundamentals@JustCryptoecon
Arbitrum has on-chain rollup contracts enforcing settlement, a single centrally operated sequencer, a DAO, a foundation, and a security council with emergency multisig power. So which part governs the system? • The rollup contracts govern state validity, where validators submit assertions about Arbitrum's state to Ethereum • The sequencer decides transaction ordering, and is operated by the Foundation • ARB token governance covers product decisions, economic parameters, treasury, actor set permissioning, technical parameters. BUT, decisions go through multi-stage timelocks and, critically, can be canceled by the Security Council. • The Security Council can execute any software upgrade with no delay in a security emergency. • The Arbitrum Foundation gates Security Council election eligibility and enforces compliance requirements. The implication: Whilst it’s true that the DAO has a broad set of rights across the system, it is also a meaningfully smaller claim than "ARB governs Arbitrum." Each stakeholder in the system have both distinct and overlapping responsibilities within the system. This is why Arbitrum has a hybrid operating model, and hybrid governance. Every label is doing real analytical work here, and each is visible on the profile. And which part governs the system? The answer depends entirely on where you draw the boundary. Learn more about how we draw those boundaries and about ARB’s role in its system at fundamentals.fyi/token/arbitrum
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Justin retweetledi
Sector labels in crypto mostly describe how a system is talked about, not what it sells.
That's a problem. Because sector sets your peer group. Peer group sets your benchmarks. Benchmarks set your valuations. The error compounds.
This is how Fundamentals approaches sectors 🧵
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Justin retweetledi
Crypto has a vocabulary problem.
Sectors are arbitrary, systems are misclassified, and no one knows what tokens actually do.
Comparing tokens? Impossible.
We built Fundamentals to fix that. Here's how it works 🧵
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Justin retweetledi
🚢 Tokens & Systems 🚢
To invest in tokens, you must understand the value and governance dynamics of the system.
We've been busy growing the framework to include the system.
SYSTEM
= protocol + foundation + labsCo + DAO + token..
All eyes on value ➡️Dashboard launching soon!
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Justin retweetledi
📜Our token functionality framework is based on years of practically applying cryptoeconomics and token design thinking. The framework introduces
• Token functions
• Endogenous vs Exogenous system thinking
• Mechanisms that enable token functionality
• Value accrual primer (more to follow)
Read the article and build a view on how tokens are actually used.
🔗 Link below
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Excited to share the token fundamentals dashboard as a tool to catalogue how tokens are implemented across the space.
We have a lot planned to make this even more useful going forward - if you have any suggestions please reach out!
Fundamentals@JustCryptoecon
🔔 Everyone talks price, but what actually drives fundamental value? Today Just Cryptoeconomics is extremely excited to announce the launch of the ‘Token Fundamentals’ dashboard. A foundation for developing a view of where token value comes from.
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Justin retweetledi
Token frameworks by interoperability protocols are set to play a big role in how value moves across chains.
Our latest research compares the leading token frameworks.
This guide will help teams evaluate and choose the right framework for their needs 👇
blog.li.fi/comparing-toke…
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Justin retweetledi
📣 @WormholeFdn, the team supporting the development of the Wormhole platform, announced Google Cloud as the newest addition to the Guardian Network!
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@SimplicityWeb3 @binance @Bybit_Official @okx @kucoincom @coinbase @gate_io @MEXC_Official @MessariCrypto @ArkhamIntel @chainalysis @DuneAnalytics @TheBlock__ @HashKey_Capital @PanteraCapital @dragonfly_xyz @Delphi_Digital @a16zcrypto Interesting exercise though, important work and am excited to see where the team takes this🫡
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@SimplicityWeb3 @binance @Bybit_Official @okx @kucoincom @coinbase @gate_io @MEXC_Official @MessariCrypto @ArkhamIntel @chainalysis @DuneAnalytics @TheBlock__ @HashKey_Capital @PanteraCapital @dragonfly_xyz @Delphi_Digital @a16zcrypto Not sure if day 1 performance is a good thing, especially if it means they're also more 'selective'. Isn't the former due to low liquidity (+launch price), meaning the latter could just be that they list fewer tokens since they don't have enough liquidity?
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We ran statistical analysis on over 4,800 data points to uncover the performance of 34 tokens post-listing on major centralized exchanges: @binance, @Bybit_Official, @okx, @kucoincom, @coinbase, @gate_io, & @MEXC_Official
Check out full report: docsend.com/view/xrmxc5ybb…
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Key is that it works best for supply-side, and it is the attempted bootstrapping of demand through tokens that often ends up in vicious declines once that reward dries up.
"Free money" cannibalizes mindshare and user incentive away from good product
Haseeb ＞|＜@hosseeb
Having a token does not magically bootstrap network effects. This was the old mantra in crypto and some people seem to still believe it. At best, a token can help bootstrap the supply side of a network. But the demand side comes from a great product & GTM, not from a token.
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Justin retweetledi
Justin retweetledi
It was so great meeting founders, investors, and practitioners at EthCC last week. Thank you to all those that we had a chance to meet!
If you are working on a project and could use an opportunity to exchange notes and ideas about cryptoeconomics, don't hesitate to reach out!
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@Nick_van_Eck @AgoraDollar Which is great since it seems like it aligns better with the needs of businesses. Curious how you think about stablecoins as they optimize for holders (store of value, savings accounts) vs. spenders (Fisher's eq., medium of exchange)
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@Nick_van_Eck @AgoraDollar Like the ability to actually incentivize projects/actions that create transaction volume.
Yield-bearing stablecoins mainly reward holding, which may not be ideal for a medium of exchange.
It seems like @AgoraDollar leans more towards enabling payments vs. other competitors.
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“Yield-bearing stablecoins” are not money or stablecoins.
Stablecoins are already a $150 billion market and settle $10T annually. We see them growing to $3T by 2030. “Yield-bearing stablecoins” are not part of this market.
At @AgoraDollar, we believe that digital dollars are going to take over the world, starting with the Eurodollar market. Our own AUSD’s model will be the dominant form in the world by 2030.
Keep reading to learn more about our model with AUSD and the start of Stablecoin 3.0. Coming to Eth Mainnet in June:👇
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@TheOneandOmsy Do you have a preference of how that breaks down between cliff and vest?
Also need to keep in mind total allocation % is still reasonable even for projects with a longer lockup.
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