Tokenomy is becoming a buzzword, as are many new concepts and words from the blockchain and cryptoTech industry. Many people are using the word without understanding the real meaning of the concept.
✅ TOKENOMY is a concatenation of Token and Economy.
Tokenomics is the design of the token and the set of rules of the economic ecosystem where it will be used.
👉🏾 Thus, tokenization is the process of transforming asset accountability and management to represent each of these assets with a digital token.
✅ Tokenization:
👉🏾 increases liquidity of assets
👉🏾 and eliminates frictions in trade.
👉🏾 In addition, it adds new features to an asset that was not previously inherent.
👉🏾As a result, assets become more valuable.
The main idea is that, thanks to a design based on game theory and incentives, the use of the token becomes desirable by all stakeholders in the ecosystem: customers, suppliers and promoters / sponsors the token.
The Initial Token Offering (ITO) space is currently the groundwork for unprecedented creativity and disruptive thinking, and part of this effort is directed to the design of tokenomy with the following features:
1⃣. Provide a significant benefit to the token users
2⃣. Encourage users to be the first to use the token: an economic system focus and centralized on the consumer/user and not the producer.
3⃣. Encourage participants to bring new users into the ecosystem
Use ITO/ICO token buyers in their "speculative" role, as something that will appreciate if the project grows
When an ITO presents a token that has the above characteristics, one could say that it has a "good tokenomy", making it a much more viable project.
How to identify good Tokenomies?
There are infinite ways to get good results, but let's summarize some models that emerge from ITO crowdsourcing:
Bounty and/or Discount
Since the sale of token represents the pre-sale of a future good or service, selling it with a discount on the future price of the good of service may be the easiest way to encourage early adoption of the token.
Membership/exclusive access
Since the token represents exclusive access to some kind of community, the scarcity of the token will increase its value as the community becomes more and more attractive. This effect will generally encourage a quick adoption of the platform. The classic example would be a social club, and some country branches are being launched for this purpose.
Network and participative economy
We are talking about Network Economics when the value of a network for its users increases exponentially as the number of users increases. Unlike the previous point, the value of this membership is based on mass adoption, not exclusivity. The cases where the network economy applies are social networks (Facebook, Linkedin, Twitter, ..). Since token holders are members of a decentralized network, where token owners share network benefits with sponsors, token holders will be encouraged to expand the user base of the network to increase the value of the token. their chips.
Middleman disintermediation
Wherever there is a market place, there is normally an intermediary who pays fees by matching supply and demand. Insofar as the intermediary is more dominant, it will impose higher fees for linking it. For example, blockchain technology allows decentralized networks, tokens, and P2P (peer-to-peer) markets to change the game. Because P2P markets allow peers to interact with each other to eliminate the need for an intermediary, they are able to offer a much better economy to its users, by encouraging its adoption.
Big Data from decentralized databases
Many ITO projects are built as decentralized databases using blockchain technology. Because the project stores data from its users, this data collection becomes a valuable resource for market intelligence. In many cases, the token can be used to reward users who allow the marketing of their data, thus becoming very attractive to people who normally give their data "for free", which encourages adoption.
Internal payment systems (profitability and confidentiality)
A typical feature of the chips in many ICOs is that you can use the token as a means of payment within the platform. The use of a token as a means of payment, instead of the traditional banking system, can be very beneficial for users, especially in cases where:
(a) user penetration of banks is low (such as emerging markets),
b) you can avoid expensive international transfer fees,
c) Users value their privacy and want to avoid sharing personal / banking data.
Supply and demand of tokens
This seems to be an obvious premise, but one that must be taken into account. For the value of a token to increase over time, ecosystem growth is expected to result in an increase in token demand that is faster than chip supply.
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