Startup Funding Espresso – How To Build Tokenomics for Your Project

How To Build Tokenomics for Your Project

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In designing tokenomics the goal is to incentivize the community toward a common goal.

This can be done through the design of the supply and demand as well as specific incentives.

Here are the steps to design tokenomics for your project:

Identify the utility of the token and the value it will bring to the holder and how it aligns with their needs

Build the token mechanics.  

This includes the minting, supply, and demand as well as the burning of tokens.

Determine if the tokens are active or passive.

Active tokens process information while passive tokens simply represent a utility or value.

Determine if the token can be transferred or not.

Decide the monetary and fiscal policy of the token.

Determine how the token will be sold or distributed.

Check the legal issues to ensure compliance in your jurisdiction.

Check compatibility with smart contracts for enacting the tokens on a blockchain.

Test at each stage to ensure proper functioning.

The objective is to create a stable ecosystem meeting the needs of the community.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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