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Hugo May

@jahm

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Hugo May pfp
Hugo May
@jahm
Who is the Token Fundamentals dashboard for? Investors ask ‘Why is the token valuable?’ Builders and token designers ask ‘How do I make the token valuable?’ As attention shifts toward fundamentals, our Fundamentals Dashboard intends to set a foundation for answering these questions. https://app.justcryptoeconomics.com/
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Hugo May
@jahm
9/ Part of the complexity of token design is that the sky is the ceiling: a token can embed multiple functionalities in one system. Take $ETH: validators earn block rewards (Service Provision), users pay gas fees (Payments), EIP-1559 burns fees (Value Distribution), staking secures consensus (Collateral), and $stETH holders claim pooled $ETH (Asset Ownership). The difficulty in designing tokens is to finding right mix that unlocks system value.
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Hugo May
@jahm
8/ Asset Ownership: Right to claim underlying assets Tokenized fiat ($USDC) Pooled staked assets ($stETH) Onchain asset certificates (LP tokens) 🌐 Property title deeds confer legal ownership rights.
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Hugo May
@jahm
7/ Collateral: Utility to stake or pledge for security or financial leverage Validator staking ($DOT) Borrowing on DeFi ($ETH) Underwriting protocol risks ($AAVE). 🌐 Real estate used as loan collateral by banks.
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Hugo May
@jahm
6/ Payments: Utility to use as money Gas fees ($BTC, $ETH) Onchain commerce ($USDC, $USDT) Cross-system settlements Real-world payments. 🌐 Fiat currencies serve as legal tender for goods and services.
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Hugo May
@jahm
5/ Membership: Right to access perks Launchpad allocations ($BNB) Discounted borrowing rates ($AAVE) Premium content/tools ($IP). 🌐 Country club memberships unlock exclusive facilities and events.
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Hugo May
@jahm
4/ Value Distribution: Right to share surplus Protocol fee burns ($ETH) Dividends Buybacks/burns ($BNB) MEV extraction ($JTO). 🌐 Dividend rights let shareholders share company profits.
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Hugo May
@jahm
2/ Service Provision: Right to perform work or provide resources and earn fees Participate in block validation ($ETH) Indexing data ($GRT) Transcoding video ($LPT). 🌐 Taxi medallions grant exclusive rights to operate cabs.
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Hugo May
@jahm
3/ Governance: Right to influence decisions Voting on upgrades, setting economic parameters, allocating treasury funds, electing committees. 🌐 Equity shares confer voting rights in a corporation.
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Hugo May
@jahm
🧵 1/ THE 7 FUNCTIONALITIES The JCE Token Functionality Framework shapes a token’s role in a system’s economy and provides the foundation for thinking about value accrual. 🌐 indicates real-world comparables.
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Hugo May
@jahm
We believe that the industry is maturing and ready for a fundamentals-first view on tokens. The time to make this public is now. If you want to be part of this journey please reach out to us via the dashboard or DM. Many of you have guided our work and we don’t plan on stopping now. app.justcryptoeconomics.com
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Hugo May
@jahm
Tokens are multi-dimensional instruments that offer a rich design space, but with flexibility comes complexity. Equity investors never question the nature of the asset, token investors have to first understand the relationship between the product and the token.
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Hugo May
@jahm
🔔 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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Hugo May
@jahm
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Hugo May pfp
Hugo May
@jahm
https://justcryptoeconomics.com/writings/token-functionality-framework
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Hugo May
@jahm
Just Cryptoeconomics has developed a token functionality framework 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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Hugo May pfp
Hugo May
@jahm
We believe that the industry is maturing and ready for a fundamentals-first view on tokens. The time to make this public is now. If you want to be part of this journey please reach out to us via the dashboard or DM. Many of you have guided our work and we don’t plan on stopping now. app.justcryptoeconomics.com
0 reply
0 recast
0 reaction
Hugo May pfp
Hugo May
@jahm
Tokens are multi-dimensional instruments that offer a rich design space, but with flexibility comes complexity. Equity investors never question the nature of the asset, token investors have to first understand the relationship between the product and the token.
1 reply
0 recast
0 reaction
Hugo May pfp
Hugo May
@jahm
🔔 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.
1 reply
0 recast
0 reaction
Hugo May pfp
Hugo May
@jahm
Do what you need to keep me here.
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