Tokenomics – ‘Token economics’.
Did you notice that in completing chapter 4, we had started discussing things related to ‘tokenomics’?
Didn’t we continuously talk about ‘your paper’ in chapter 4? Well, a large constituent of that paper is ‘your tokenomics’!
Once again, we say ‘your tokenomics’ because ‘different cryptocurrencies should have their own unique tokenomics’.
A cryptocurrency is a tokenized asset! In this chapter, we will tackle the subject of ‘tokenomics’ in the context of a cryptocurrency.
Whether you intend to make use of ‘a colorlesspaper’ or ‘a whitepaper’ to outline the model and vision behind your cryptocurrency, a large segment of your paper will contain the ‘tokenomics’ of your cryptocurrency.
‘Your tokenomics’ documents and dictates the parameters and paradigms that define your cryptocurrency.
Within your tokenomics, you can incorporate your philosophies, tenets, algorithms, principles etc, turning a once ‘generic cryptocurrency’ into a ‘revolutionary cryptocurrency’, one with an essence and intention.
To a broader context, ‘tokenomics’ constitutes your avenue to understudying ‘how to formulate a cryptocurrency that works efficiently within its ecosystem’. Ultimately, for a cryptocurrency to succeed within its ecosystem, it needs to fit its industry, its blockchain, its users and a cryptocurrency’s tokenomics largely impacts its success.
Since ‘tokenomics’ is a major element of your ‘cryptocurrency’ paper, your tokenomics can be read and understudied by others too.
Before your cryptocurrency goes live, before users can even interact with it, they can visit your ‘cryptocurrency’ paper to read its tokenomics, from whereupon they can deduce the essence of your token along with its purpose and intention. Upon these deductions, they can decide on whether to further their interaction with your cryptocurrency and project its potential intrinsic and economic value.
Even when your cryptocurrency goes live and users can begin to interact with it within its ‘ecosystem’, typically comprising of its ‘parent blockchain and DAPP’, they may not be able to grasp the inner-workings of your cryptocurrency such as ‘its distribution-model, its economics, its inflation-rate etc’. They may need to recount the ‘tokenomics’ segment of your ‘cryptocurrency’ paper to find such parameters.
In the later part of this chapter, we will take a look at the tokenomics behind a certain cryptocurrency called ‘ULOGS’, a cryptocurrency which isn’t in existence yet. From its ‘tokenomics’, let us see if we can deduce the parameters that define ‘ULOGS’.
In the interim, we will quickly recount some parameters from ‘BTC’s tokenomics’.
Do you recall that ‘BTC’ has a finite supply of ‘21 million tokens’? What can we deduce from this parameter as ‘potential BTC users’?
It quickly tells us that unlike ‘traditional money’ which inflates without recourse, ‘BTC’ may constitute a tangible ‘store of value’. We are also told that if ‘BTC’ becomes ‘widely-accepted’, its supply will be insufficient for its demand. As such, economy-wise, ‘BTC’ may constitute a tangible ‘financial asset’.
Another weighty parameter contained in BTC’s tokenomics is its ‘reward-distribution’ model which rewards ‘Bitcoin miners’ for their role in ‘producing blocks’ at an emission-rate of ‘6.2 BTC/block’, proportional to a miner’s ‘proof of work’.
What can we deduce from this parameter?
Based on ‘incentive’ (i.e ‘BTC rewards’), Bitcoin is likely to ‘always exist’. Too, Bitcoin’s value is underlyingly backed by ‘expensive infrastructure’ and ‘financial investments from large enterprises, who would like to sustain BTC’s value’.
In chapter 3, we had discussed the essence of a cryptocurrency to the survival of its parent blockchain and DAPP. A cryptocurrency is typically modeled to create an ‘economic incentive’ for people to participate in scaling its parent blockchain and in interacting with its parent DAPP/DAPPs’, leading to a self-sustaining ecosystem. A tangible tokenomics defines the parameters that enable a cryptocurrency to fulfill its essence.
At this stage, let us take a look at the tokenomics behind a prospective cryptocurrency called ‘ULOGS’.
‘ULOGS’ will be the native cryptocurrency of a ‘DAPP’ called ‘CryptoUlogs’. You can read more about this prospective DAPP on ‘https://bit.ly/cryptoulogs’.
To introduce you to the tokenomics of the ‘ULOGS’, let us quickly intimate you about the project ‘CryptoUlogs’, that you gain insight into the intended purpose of the cryptocurrency ‘ULOGS’.
‘Cryptoulogs.com’ will constitute a social-media platform for ‘cryptocurrency-related ulogs’.
It will build on the ‘Hive blockchain’ and focus on ‘short-form content’.
On ‘cryptoulogs.com’, users will be able to create, curate, consume and promote ‘mini-ulogs’ related to the niche of ‘cryptocurrency’.
In turn, they will be rewarded with a cryptocurrency called ‘ULOGS’, by means of a ‘proof of tears’ reward-distribution model. Users will also be able to earn rewards by ‘staking their ULOGS’ or randomly.
Besides content-related features, ‘cryptoulogs.com’ will also offer social-features like ‘DMs, d-commerce, native ads etc’. It will also have a ‘DEFI’ (i.e ‘decentralized financing’) layer.
At this stage, let us highlight that ‘cryptoulogs.com’, will maintain ‘a grey-list’ (made up of ‘certified uloggers’).
Those who become ‘certified uloggers’, will form the core of ‘cryptoulogs.com’, empowered with the tools and influence to shine.
Across ‘cryptoulogs.com’, these ones will be empowered with exclusive UI-perks and tools to assist them in their role of introducing and inculcating the ‘art of ulogging’ among our users.
Alas, not every user will go on to becoming a ‘certified ulogger’.
In effect, a major focus of ‘cryptoulogs.com’ with respect to ‘growing its user-base’ will be to grow a scarce ‘grey-list’ (made up of ‘certified uloggers’).
This means that when we eventually have billions of users, our sole focus with respect to user-growth will be to maintain a ‘grey-list’ made up of say ‘100,000 certified uloggers’.
Yes, our ‘scarce model’ is ‘a grey-list’, made up of ‘humans’.
Now, do you recall that the content-base of ‘cryptoulogs.com’ are ‘ulogs’ instead of ‘blogs’?
On ‘cryptoulogs.com’, everyone can ulog about cryptocurrency in a way that allows them to ‘mine your human’ (i.e ‘evolve’), without the reservations that they may have, assuming they were to blog or vlog about ‘cryptocurrency’.
Within a ‘cryptocurrency-related ulog’ (i.e a ‘cryptoulog’), you can create an imaginary blockchain, relate your recent hassle with an exchange, talk about your Ethereum shower-thoughts, pose a weird crypto-related question, document your crypto-related drafts, create a caricature bitcoin-logo or sing off-key about uniswap in a video that isn’t insta-worthy. You can even publish your unfinished crypto-art or show us your failed attempt at drawing Litecoin’s logo.
We will value your ulogs and celebrate the ‘evolving version of u’ contained in it as we seek to reward your ulogging.
Then, if we don’t reward your ulogging today, we can reward it tomorrow as the ‘ULOGS’ cryptocurrency will also look to reward ‘past deeds’.
Yes, your cryptoulogs aren’t measured in terms of ‘proof of brain’ (referring to ‘quality’). They are measured in terms of ‘proof of tears’ and rewarded on the basis of their ‘mining the human’ element.
Unlike a ‘blog or vlog’, a ‘ulog’ is priced in terms of ‘real human growth’, money being secondary.
Each aspect of a cryptoulog, whether ‘video, picture, meme, GIF, text’ has to be created ‘fresh’ by you, drawn solely from events, experiences, sentiments, ideas in a particular day or instance. A cryptoulog doesn’t resource from the internet.
Basically, a cryptoulog should be made up entirely of fresh excerpts of ‘you’.
In effect, a cryptoulog created created now, shouldn’t have existed anywhere online prior. Evidently, a cryptoulog can’t be an object of plagiarism and can’t infringe on copyright.
Carrying a ‘u’ (i.e ‘human’) element, ‘cryptoulogs’ removes the complexity associated with the niche of ‘cryptocurrency’, making it a subject relatable to every human, whether they are crypto-savvy or not.
In effect, everyone can curate and promote ‘cryptoulogs’ too, whether they are crypto-savvy or not.
ULOGS Token — (Provisional) Tokenomics.
The ‘u’ in ulogs stands for ‘you’. To further let the world know about ‘ulogs’, we have chosen a token name called ‘ULOGS’. A unit of our token is a ‘ULOG’.
‘ULOGS’ is a simple utility token that will be used to power ‘cryptoulogs.com’. It will make use of a ‘proof of tears’ (i.e ‘mining the human’) reward-distribution model.
The ‘ULOGS’ token should succeed whether ‘bulls or bears’ because ‘humans’ are involved. This means that we will develop our tokenomics around ‘humans’, rather than ‘bulls or bears’.
We want to create a token that everyone desires to hold. Everyone should be able to earn ‘ULOGS’ too. To earn it however, they will need to ‘mine their human’. An example of a ‘mining the human’ activity is ‘ulogging’.
Where our token can incite ‘breakthrough in human’, ULOGS succeeds.
At this stage, it is important to highlight that our ecosystem will be built around a core of ‘humans’ (referring to ‘certified uloggers’.)
Thus, when it comes to user-growth on ‘cryptoulogs.com’, our sole focus will be on growing a scarce ‘grey-list’ made up of ‘certified uloggers’.
‘Certified uloggers’ will constitute our ‘true fan-base’.
Now, let us assume that our ‘grey-list’ has a soft-CAP of ‘100,000 certified uloggers’. This will mean that at every instance, even if we have billions of users, we should maintain a grey-list made up of ‘100,000 certified uloggers’.
Our scarce model is our ‘grey-list of certified uloggers’.
In formulating our tokenomics, it is also important to consider that ‘cryptoulogs.com’ will play a tangible role in supporting the development of other projects emanating from the Teardrops ecosystem e.g ‘ulogs.org, marlians.com, steemgigs.org and ‘Macrohard’ (a physical hub for brother-programmers located in the Philippines.)
Based on the insight discussed, here is are some token/tokenomics-characteristics that we will consider:
- Build a token/tokenomics fit for ‘cryptoulogs.com’, a blockchain-based social-media platform for cryptoulogs.
- Model the token/tokenomics to give prominence to our ‘grey-list of certified uloggers’. (Note: everyone can get ‘certified’.)
- Model a token that garners sustained interest (e.g people should desire to hold it, people should want to discuss it, people should want to spend it, people should want to distribute it etc.)
- Create a token that makes uses of a ‘proof of tears’ reward-distribution model.
- Create a token that has utility, whether ‘bulls or bears’.
- The token should have ‘social’ properties e.g users can earn it via ‘content-creation, content-promotion, content-curation’.
- Create a token that possesses underlying ‘DEFI’ properties e.g people can earn it by staking it, people can delegate their stake etc.
- Token should have ‘social, commerce and DEFI’ utilities.
- Create a token that inherently abates ‘whale’ impact.
- Create a token that propagates the ‘Ulogs’ movement.
- Create a token that maintains intrinsic value, even in ‘fractional amounts’ i.e ‘may people aspire to possess a unit of the token’.
Now, let’s draft the token parameters for the ‘ULOGS’ cryptocurrency:
- ‘ULOGS’ will have a small supply and low-inflation rate, where inflation is based on a reward-pool. (Provisional initial supply = 100,000 ULOGS > Provisional inflation (i.e ‘reward-pool’) = 100,000 ULOGS per year.)
- ‘ULOGS’ reward-pool (Provisional allocation: Author = 30%, Curator = 20%, Staking = 40%, DAO = 10%)
Note: ‘ULOGS’ is likely to be a Hive-based token, inheriting the social-properties native to the Hive blockchain such as ‘zero transaction fees, 3-seconds block-time etc’.
Based on this tokenomy, we can create a token fit for ‘cryptoulogs.com’.
‘cryptoulogs.com’ is a social-media platform based on ‘cryptocurrency-related ulogs’. As seen above, people will be able to earn ‘ULOGS’ from a reward-pool (which has a low emission-rate of ‘100,000 ULOG per year’), in accordance with this allocation: ‘author = 30%, curator = 20%, Staking = 40%, DAO = 10%’.
As seen above, ‘50% of the reward-pool’ (i.e author = 30%, curator = 20%)goes towards rewarding ‘content’.
Typically, these rewards are distributed via ‘likes’ (i.e upvotes). For ‘likes’ to have influence on reward-distribution, users need to stake or power-up their ‘ULOGS’ tokens. (By powering up their ULOGS tokens they deflate the circulating supply.)
‘Authors’ earn ‘ULOGS’, when staked-users like or upvote their ‘cryptoulogs’. Staked-users also earn ‘ULOGS’ in the form of curation-rewards from the payout of ‘cryptoulogs’ that they have liked. Alas, there is more…
On ‘cryptoulogs.com’, users can also earn ‘ULOGS’ directly, by ‘staking’ (i.e ‘powering up’) their ‘ULOGS’. As shown earlier, ‘40% of the reward-pool’ is allocated to ‘staking-rewards’, rewarding users who stake their ‘ULOGS’, daily.
While you can see our ‘staking’ layer as a traditional ‘DEFI’ layer, it is slightly different.
Staking-rewards on ‘cryptoulogs.com’ need to be claimed per day. To complete a claim however, users will need to ‘mine their human’ by ‘posting a simple cryptoulog’.
Assuming a user forgets to claim their daily staking-rewards or declines to do so, their reward for that day is distributed randomly among ‘x’ number of active ‘certified uloggers’ or sent to the ‘DAO’. This suddenly means that users across ‘cryptoulogs.com’ can also earn randomly or for ‘past deeds’.
To maintain a ‘proof of tears’ (i.e ‘mining the human’) element to even’random earnings’ across ‘cryptoulogs.com’, users who earn randomly will need to be ‘certified uloggers’. Ofcourse, everyone can get ‘certified’!
‘10%’ of our ‘reward-pool’ allocated to the ‘DAO’, will be used to further the growth and development of ‘cryptoulogs.com’; spent as required. Funds from the ‘DAO’ can also be used to empower ‘certified uloggers’, those who want to build their noble dreams.
As we have continued to reiterate, we will build our ecosystem around a core of ‘certified uloggers’. In eventuality, these ‘certified uloggers’ will form the core of every project emanating from the ‘Teardrops ecosystem’ such as ‘ulogs.org, marlians.com, steemgigs.org, ‘Macrohard’
and ‘cryptoulogs.com’ will help us in the process of identifying and establishing these ones.
Our tokenomics and token model has to take this into consideration too!
‘ULOGS’ as such, is modeled in such a way that ‘each person on our ‘grey-list’ should have ‘1 ULOG at least’ (i.e initial supply = ‘100,000 certified uloggers’ * 1 ULOG).
This creates our ‘scarce model’ and creates an atmosphere whereupon everyone can participate (with the influence of ‘whales’), whether they have giant ‘stake’ or not.
Users who maintain a certain tier of ‘ULOG-stake’ per month (e.g a stake of ’10 ULOGs’) are ‘certified’ by default. Others can become ‘certified’ through a simple verification-process, that involves a monthly-subscription, in the range of ‘1$’.
‘Certified uloggers’ are empowered with ‘tools, UI-perks, discounts, teardrops etc’ that give them extra influence across ‘cryptoulogs.com’, irrespective of their stake-size.
“You are whale to me!” @surpassinggoogle
With the ‘ULOGS’ token, even ‘fractions of it’ should maintain intrinsic value. ‘Each user should aspire to amass ‘1 ULOG’ at least’.
‘ULOGS’ will have many utilities across ‘cryptoulogs.com’ as we will highlight later. For instance, users may post ‘long-form ulogs’ by spending ‘ULOGS’ or projects may need to spend ‘ULOGS’ to create their ‘ulog-based crypto-communities’ on ‘cryptoulogs.com’ etc.
These utilities will give ‘ULOGS’ its deflationary property, helping us maintain a ‘low circulating-supply’, even though we have a low annual inflation of ‘100,000 ULOG’.
Yes, we want a strong token backing ‘cryptoulogs.com’. We want to empower many humans, especially our ‘grey-list of certified uloggers’, helping as many people as possible build their noble dreams. To accomplish this, we must create a token that succeeds whether ‘bulls or bears’ because ‘humans’ are involved.
Even though ‘cryptoulogs.com is a social media platform, with the potential of hosting ‘billions of users’; here are some other reasons for basing our ‘tokenomics’ on a ‘low initial supply & low inflation rate’:
- Focusing on short-form content, authors and curators can better afford ‘fractional rewards’.
- Cryptoulogs.com will create ‘external economies’ (i.e ‘a crypto-agnostic atmosphere’). ‘Ulogs’ are revealing in nature as a result, ‘cryptoulogs’ will constitute a thing of beauty.
- ‘Even a ‘one-liner cryptoulog’ is expensive’. Adopting a culture of ‘mining their human’, uloggers will explore ‘cryptocurrency/blockchain’ in new, dynamic ways; revealing tangible information about ‘cryptocurrency’, including information that they may have once hoarded.
(‘Learning is the ultimate earning’.)
- We want to abate the ‘whale’ effect, enabling an environment where ‘everyone can play’ e.g it is psychological bearable for a user aspiring to be ‘whale’, that a ‘whale’s wallet’ has a stake-size of ‘1000 ULOGS’ instead of ‘1,000,000 ULOGS’. In general, anyone can be ‘whale’ on ‘cryptoulogs.com’ by becoming a ‘certified ulogger’.
- We want everyone to aspire to possess and hold ‘1 ULOG’ at least.
- Exploring these token dynamics (such a low initial supply & low inflation rate’) with the ‘ULOGS’, will help us better formulate tokenomics behind our ‘primary token’ called ‘TEARDROPS’.
‘ULOGS’ — Initial Supply Distribution (Provisional)
Initial supply = ‘100,000 ULOGS’
- Pre-sale = ‘80,000 ULOGS’ (Provisional price = ‘1$ per ULOG’). A maximum of ‘100 ULOG’ can be sold to a person. Unsold tokens after pre-sale may be held, either staked or used for ‘development’ costs.
- ‘10,000 ULOGS’ — staked as needed to direct the platform from the outset. Can also be used for things ‘development, team-expenses etc’ in the future.
- ‘10000 ULOGS’ — used for ‘marketing, bounties, teardrops etc’.
Funds raised from pre-sale will be used on-goingly for ‘development’, in this order:
- UI-development for ‘cryptoulogs.com’, including IOS and Android apps.
- Setting up the first physical ‘Macrohard’ hub in the Philippines. (This hub will gather brother-programmers. This physical-venture will back our online-ventures.)
- Possibly list ‘wrapped-ULOGS’ on uniswap and add liquidity.
- Restore life to ‘marlians.com’ and use that platform to create awareness to ‘cryptoulogs.com’.
- Continuing the development of ‘ulogs.org, steemgigs.org and teardrops.network’.
- Target exchange-listings using ‘community movement’ or direct-finance.
- Set up more ‘Macrohard’ annexes in the Philippines.
‘ULOGS’ — Reward-Distribution Model (Provisional)
We want to explore a reward-distribution model that explores the following characteristics:
- Modeled around ‘mining the human’.
- Rewards ‘breakthrough in humans’.
- Rewards human virtues e.g ‘self-sacrifice, mentality, forgiveness etc’, rewards even ‘past deeds’.
- Has a ‘mentality-adjusting’ potency.
- Can evolve dynamically.
- Is social.
- Has a suspense element.
- Empowers and celebrates humans, returns value to humans.
- Can reward every(any)one.
- Doesn’t focus much on ‘governance’.
- Makes use of ‘grey-lists’; neither ‘black or white’.
- Makes use of un(dis)talented oracles.
- Has DEFI attributes.
- Incites a loyalty factor.
- Has potential for mainstreamity.
- Succeeds whether ‘bulls or bears’ because ‘humans’ are involved.
- Isn’t ‘statically’ stake-based.
- Is celebratory in nature; based on the concept of ‘you are whale to me’.
- Has an ‘un(dis)talented’ paradigm.
- Is a token ‘with a prayer’.
We have established so far that ‘cryptoulogs.com’ will build on the Hive blockchain. This also means that the ‘ULOGS’ token is ‘Hive-based’.
The Hive blockchain has the social-features that a platform like ‘cryptoulogs.com’ needs e.g ‘likes, replies, zero transaction-fees, stake-delegation, reputation-score, 3-seconds transaction-speed etc’. It also has a native community, made up of thousands of users. This means that we will always have a user-base.
The Hive blockchain also has a native ‘reward-distribution mechanism’ (called ‘proof of brain’) fit for social media, one based on ‘likes’ (i.e ‘upvotes’), which distributes rewards among ‘authors and curators’. This is something that ‘cryptoulogs.com’ needs!
Now, while the content-base for the Hive blockchain is ‘blogs’, the content-base for ‘cryptoulogs.com’ is ‘ulogs’. Thus, we are modeling our ‘reward-distribution’ mechanism around ‘proof of tears’, seeking to reward ‘other facets of humans’ assessable within ‘ulogs’, besides ‘just brain’.
Ultimately, ‘cryptoulogs.com’ will have a ‘daily reward-pool’ (i.e ‘token-emission’) that users can distribute ‘via upvotes’, on the basis of their ‘influence’ (or stake-size). However, this time, they will be rewarding an activity that ‘mines the human’ called ‘ulogging’, specifically ‘cryptoulogging’.
As we have reiterated earlier, only ‘50% of our reward-pool’ is allocated to rewarding ‘content’. Users can also earn ‘rewards’ daily, simply by ‘staking’ (i.e ‘powering up’) their ‘ULOGS’, with ‘40% of the daily reward-pool’ allocated to ‘staking rewards’.
Alas, users can also earn the ULOG token randomly. This portion of ‘rewards’ will come from the daily portion of ‘staking-rewards’ that was left ‘unclaimed’.
In any case, on ‘cryptoulogs.com’, irrespective of how ‘rewards’ are earned, users must have ‘mined their human’ (i.e ‘proof of tears’). For instance, to claim ‘daily staking-rewards’, users will need to ‘post a simple cryptoulog’ to fulfill their claim.
The ‘ULOGS’ can reward ‘past deeds’ too! While much of the ‘distribution’ in this respect, can be carried out consciously/manually by ‘our team’ or ‘certified uloggers’ via ‘timely upvotes’, it can happen in automated fashion and randomly. How so? Users who decline their ‘daily staking-rewards’, will have their ‘unclaimed rewards’ distributed randomly among ‘x’ number of active ‘certified uloggers’.
This suspenseful atmosphere has ‘mentality-adjusting’ potency. Realizing that their ‘past deeds’ can be rewarded, users can begin to adopt a culture of ulogging, whether ‘bulls or bears’. They can also be inculcated with the fact,’curation’ doesn’t have to be promised. Eventually, they can begin to ulog for the ‘conscious’ purpose of ‘mining their human’, where the primary reward is ‘real human growth’ (or ‘breakthrough in human’).
Now, we will return to celebrate the resulting ‘breakthrough in human’, with a digital currency called ‘ULOGS’ and to a grander extent, with ‘TEARDROPS’.
To conclude, let’s reiterate once again, that ‘cryptoulogs.com’ will be built around ‘a grey-list of certified uloggers’. From among these ones, we want to emanate ‘generation-fixers’. Thus, we will direct our ‘reward-distribution’ focus, primarily towards these ones, empowering them in the process. Alas, everyone can get ‘certified’!
As such, we can evolve a ‘scarce model’ that centers around ‘humans’, rather than ‘bulls or bears’.
cryptoulogs.com — DEFI layer.
Our ecosystem is inherently ‘DEFI’; ‘DEFI’ in the context of ‘empowering of human’. Our ‘ROI’ is ‘real human growth’.
Even though ‘cryptoulogs.com’ is a social/content-based platform; considering that it will focus on ‘short-form content’, we have afforded ‘a small reward-pool allocation’ for ‘content’ and allocated ‘a large portion of our reward-pool’ to ‘staking-rewards’. However, we have created a more testimonial, un-ordinary type of ‘staking-feature’! How so?
Unlike traditional DEFI-platforms, on ‘cryptoulogs.com’, your ‘stake’ gives you additional influence over a ‘reward-pool’ that incites users across ‘cryptoulogs.com’ to ‘mine their human’.
Yes, while you can simply visit ‘cryptoulogs.com’ to claim your daily-rewards, you can also vote on ‘content’ created via the art of ‘ulogging’ (i.e a ‘mining the human’ activity).
Alas, to successfully claim your daily staking-rewards on ‘cryptoulogs.com’, you would have needed to publish a ‘cryptoulog’ too. Otherwise, your forfeited ‘rewards’ is distributed randomly among ‘x’ number of active ‘certified uloggers’.
You see, on ‘cryptoulogs.com’, your stake can still provide you tangible ‘ROI’ in terms of stirring ‘real human growth’; an ‘ROI’ that is constantly ‘positive’, irrespective of ‘bulls or bears’ because ‘humans’ are involved.
Assuming ‘staking’ is our basic DEFI-feature, we will continue to add other DEFI-featureS to ‘cryptoulogs.com’ over the course of time, in explorative fashion.
Note that each innovation stemming from the Teardrops ecosystem e.g ‘cryptoulogs.com’ makes use of ‘down-to-earth’ paradigms. Thus, we want a ‘DEFI’ system that ‘returns value to humans’, relegating the position of ‘money’ in society.
“In a world filled with ‘full-blown humans’, money is the smaller-things”. @surpassinggoogle
One of our core vi-mission is to ‘abate half-humanism and hand-to-mouthism’ and perhaps, un-ironically, we want to reverse engineer ‘DEFI’ to this effect.
As a result, one aspect of ‘DEFI’ that we are unlikely to implement is ‘loans’, except we have learned how to reverse-engineer this feature to the effect of abating half-humanism and hand-to-mouthism’.
Here are other DEFI-features that we will explore, to implement:
- ‘Teardrops’ — ‘Certified uloggers’ can have access to ‘exclusive communities’, focused on empowering them constantly with ‘cryptocurrency-drops’. (i.e ‘teardrops’ instead of ‘airdrops’.)
- TEARDROPS — Possessing stake in ‘ULOGS’, should give you a starting-stake in ‘TEARDROPS’, our primary token.
- Grow — A page/feature modeled to proactively provide especially ‘certified uloggers’, with a ‘variety of rewards’ e.g limelight, clout, consultancy etc. (See sample!)
- DAO — A small portion of the reward-pool is allocated to a ‘DAO’, which can be used to help ‘certified uloggers’ fund their projects.
- Macrohard — A DEFI-feature constituting of ‘physical hubs’ filled with ‘brother-programmers, brother-entrepreneurs etc’, focused on helping ‘certified uloggers’ build their projects.
- SteemGigs — A feature that will focus on helping ‘certified uloggers’ fund their projects through ‘gigs’, even ‘free gigs’.
Humans Vs Bulls Or Bears.
As reiterated many times already, ‘cryptoulogs.com’ emanates from the ‘Teardrops ecosystem’. Even though ‘cryptoulogs.com’ is a child-project, leading up to its parent-project ‘ulogs.org’; like ‘ulogs.org’, ‘cryptoulogs.com’ is a ‘down-to-earth’ innovation.
Underlyingly using an entire curriculum, ‘cryptoulogs.com’ will undertake the world-adjusting route of ‘returning value to humans’. This is more attainable now, by virtue of ‘luxuries’ like ‘blockchain & cryptocurrency’.
Every layer, paradigm, algorithm and element of ‘cryptoulogs.com’, is modeled to ‘return value to humans’. As such, we must build our ecosystem around a ‘core’ made up of ‘humans’, rather than ‘bulls or bears’.
This also requires ‘celebrating humans’ and as importantly, inciting and rewarding ‘human activities’ that ‘mine the human’.
To celebrate humans, we should also have a token that succeeds whether ‘bulls or bears’; distributing this token in a manner that targets ‘humans’.
Even though ‘cryptoulogs.com’ is ‘very content-based’ and builds on the ‘Hive blockchain’, which makes use a ‘proof of brain’ reward-model to reward ‘quality content’, we have created a ‘down-to-earth reward-distribution model’ called ‘proof of tears’; one that targets and celebrates ‘humans’.
How do humans ‘prove the tears’ though? By participating in activities that help them ‘mine their human’. One such activity is the ‘art of ulogging’, the primary activity on ‘cryptoulogs.com’.
Adding a ‘mining the human’ element into ‘content-related activities’ already familiar to people, we can play out an entire curriculum via ‘cryptouogs.com’, that enables us to assess ‘proof of tears’.
Note: The whole Teardrops ecosystem was borne from the question; “can we fix the tears with the tears?”
As you may have noticed, in our approach to innovation, we attempt to be ‘beautifully disruptive’, instead of ‘disruptive’.
Instead of the popular ‘code is law’ approach, that predicts human behavior in a bid to curb it, capturing ‘human capabilities’ into ‘a boolean’ (e.g ‘vote or un-vote’), we make use of ‘an entire curricula’, seeking to ‘return value to humans’.
Note: When we started ‘#ulog’, after 6-months of its inception, without aggressive marketing, some ‘5600 people’ participated in the art of ulogging. Most of these participants have simply wondered ‘what a ulog is’ as they were familiar with ‘blog’ and ‘vlog’.
Yes, en-route ‘mining your human’ towards its awesomest version, there are bound to be many tears, whether ‘happy, sad or un-fell’ tears. We seek to reward these particular ‘tears’ (where ‘tears’ is a by-product of ‘mining the human’.)
Did you notice the mention of ‘un-fell tears’?
Our route with ‘proof of tears’ is one of ‘revelation’ too! As mentioned before, we now have the luxury of ‘cryptocurrency & blockchain’ and we want to explore the application of these tools towards ‘returning value to humans’. By virtue of the ‘public and immutable’ nature of blockchain, ‘mining the human’ can become a ‘bare’ activity. By virtue of cryptocurrency, ‘mining the human’ can become a culture or a daily activity. From within this dynamic, very-human “mine”, there will be many ‘revelations’ (e.g what are ‘un-fell tears’?). By virtue of these ‘revelations’ (even ‘spiritual revelations’), we can better ‘return value to humans.’
One unconventional yet tangible use-case for blockchain is; ‘a CCTV into the true state of the world’.
Via ‘cryptoulogs.com’, we want to ‘return value to humans’ at every level. As such, we will continuously relegate the position of ‘money’ (i.e ‘bulls or bears’) in our eco-sphere, celebrating ‘humans’ instead.
This means that it will build around a core of ‘humans’, i.e ‘a grey-list of certified uloggers’.
These ones will be celebrated across our ecosystem, empowered with ‘tools, UI-perks, extra-influence etc’, whether they have large ‘stake’ or not. While we make use of a stake-based blockchain (Hive), things like ‘stake’ will not take precedence over ‘humans’.
“You are a whale to me.” @surpassinggoogle
A ‘grey’ list is indicative of the fact that any human can join this list, irrespective of their ‘stake-size’ (i.e ‘bulls or bears’).
Rather than ‘market action’ (i.e ‘bulls or bears’), our scarce-model is ‘humans’, i.e ‘our grey-list of certified uloggers’. (Say we have billions of users, our focus is to maintain a grey-list of say ‘100,000 certified uloggers’ at every instance.)
Moving together, we can create an entire movement that introduces and inculcates the ‘art of ulogging’ within our ecosystem and out into the world.
‘Certified uloggers’ being ‘true fans’ of what ‘ulogging’ represents, we can have a grander effect in ensuring that ‘cryptoulogs.com is based on cryptoulogs’. Together, we can grow our user-base autonomously, creating a ‘ulogs’ movement.
As ‘certified uloggers’ become ready to build their noble dreams, we will have a ‘grey-print’ ready, a working ‘product’ in the form of ‘cryptoulogs.com’, that they can replicate. Further relegating the position of ‘money’ in our eco-sphere and in the world at large, humans can now build their noble dreams, in the presence or absence of seed-funding.
The aftermath? Many unique social/content-platforms are born, based on ‘ulogs’; leading to an internet filled with ‘ulogs & uloggers’ (i.e very ‘human’) and a world filled with more ‘human’ shine. ‘Tunnels can find lights therein’.
Glory to Jehovah.
Are you getting the gist? Are you understanding altogether, how to read and understand the tokenomics of any cryptocurrency, irrespective of whether you are crypto-savvy or not?
Basic tokenomics captures the very essence of a cryptocurrency, defining basic parameters like ‘reward-distribution, supply-details, inflation-details etc.
More sophisticated tokenomics define additional parameters like ‘token-utilities, governance-details, paradigms, intention, technicalities etc.
In general, the parameters of a cryptocurrency as defined in its tokenomics, should provide prospective users with tangible indices to incentivize or incite them to embark on further interaction with this cryptocurrency.
Once again, ‘tokenomics’ is a very under-explored niche.
It is an entire study, one that is still being understudied and in this segment, we have contributed to the evolution of this study by outlining the result of our own study.
Anyone can undertake their own study and create their own unique tokenomics befitting of their cryptocurrency and its respective cryptosphere.
As we can already see, the purpose of a cryptocurrency is a prominent element to consider in the formulation of its tokenomics.
A cryptocurrency specifically built to cater to the industry of ‘financial services’ such as ‘Bitcoin’, should constitute a good ‘store of value’. As such, it is likely its tokenomics factors in salient parameters like ‘a finite supply or an infinite deflationary supply’, a reward-distribution mechanism that favors miners, a fee structure etc.
A cryptocurrency created to play the role of ‘governance’ in its ecosystem, is likely to involve a ‘staking’ mechanism within its tokenomics.
The tokenomics of a cryptocurrency created for the sector of ‘decentralized financing’ is likely to factor in parameters like ‘deflation, governed inflation, treasuries, staking-rewards, decentralized oracles etc.
Then, a cryptocurrency that is posed to cater to the sector of ‘social media’ is likely to have a tokenomics that favors parameters like ‘reward-pools’, stake-based governance, governed treasuries, block-rewards etc.
Unlike ‘traditional money’, which is generally modeled to cater to the industry of ‘financial services’, a cryptocurrency possesses other utilities too, meaning there isn’t a ‘standard tokenomics’ guarding all cryptocurrencies.
‘Tokenomics’ is a popular index used by many in projecting the value of your token or cryptocurrency. As such, it is important that you make your tokenomics ‘yours’, that you may showcase to the public a cryptocurrency that uniquely represents you.
Recall too that many assess the value of a cryptocurrency on the basis of its potential ‘financial strength’. By reading the tokenomics segment of your ‘cryptocurrency’ paper, a user can gain insight into the economical future of your cryptocurrency and on this basis, decide whether to invest in it or not.
Hence, if you are looking to raise seed-funding for your project by introducing ‘a cryptocurrency’, it is essential to consider formulating a tokenomics that is economically visionary.
Speaking of ‘investment’, in a decentralized cryptosphere in which anyone can participate, the term ‘invest’ has broader context. In this sphere, people can invest a variety of assets besides ‘money’ and they can invest in your ‘cryptocurrency’ for many other reasons besides ‘ROI’.
Considering the above, there are many things you can capture within the premise of your tokenomics, even though you have the intention of raising ‘seed-funding’, other than showcasing your cryptocurrency’s potential ‘financial properties’.
Tokenomics contain the parameters and paradigms that define your cryptorrency and once again, ‘tokenomics’ a very under-explore niche.
This is because, for many ‘cryptocurrencies’ today, their tokenomics didn’t take cognizance of answers to the salient question, ‘who are you?’.
As we have kept reiterating, answering the question of ‘who you are’ is a huge factor in being able to create ‘your tokenomics’, one that captures your principles, paradigms and tenets.
Indeed, the basis for many ‘tokenomics’ in existence today, is a replica of existing ‘economics’, those that typically guards ‘money’ and is premised by the nooks and crannies of ‘ROI’.
It is no coincidence thus, that most cryptocurrencies are identified and ranked according to their ‘financial properties’ or their resemblance to money.
Yes, the underlying tacklement of ‘tokenomics’ as is obtainable today has been premised by the concept of ‘bulls or bears’, meaning that it can’t be ‘evolutionary’.
Cryptocurrencies are weighted on the basis of their financial value and tokenomics tend to focus on a cryptocurrency’s ‘reward-distribution’ model, based on ‘demand and supply’.
Tokenomics are generally formulated to perfect the art of ‘reward-distribution’ (i.e ‘creating the perfect incentive’) on the notion that ‘the world is poor’; i.e “they will only act on the basis of monetary incentive”.
Modelling after existing ‘economics’ (modeled to sustain a ‘rat race’), the application of ‘tokenomics’ today is becoming ‘predictive of humans’ too; “they will spam, humans will scam, humans will pillage the reward-pool”; let’s curb them beforehand!
We end up with ‘cryptocurrencies’ premised once again by the concept of ‘code is law’ and ‘cryptocurrency governance-models’ based on the popular boolean, ‘vote/unvote’.
We are left with a system that is ‘conventional’, replicating tenets of the ‘paint world’ where ‘humans can’t shine’. Left we become, oblivious to the ‘unconventional’ application of these luxury tools (e.g cryptocurrency) and studies (e.g tokenomics) towards ‘returning value to humans’.
In some cases, a potentially testimonial application of ‘tokenomics’ may be eroded by the intention of ‘being disruptive’.
For instance, a cryptocurrency creator may say; “BTC did this; my cryptocurrency should never do that!” Leaving us with ‘cryptocurrencies’ that do not possess their own unique identities and that aren’t quite evolutionary.
Others may rush into the process of ‘creating their cryptocurrency’ on the basis of ‘riding a wave’ i.e ‘FOMO’ (fear of losing out). In their haste, they invent a cryptocurrency that becomes generic, having lost its revolutionary potency.
Indeed, ‘cryptocurrency’ can become generic and fade, like technologies prior to it, depending largely on our unique approach to interacting with it. Bringing us back to the question; ‘who are you?’.
Alas, cryptocurrency is ‘beautifully disruptive’, when used as a tool to ‘mine the human’, even ‘world adjusting’. Where used by humans to this effect, humans begin to tap into their shine, resulting also in ‘revelations’ relating to the ‘value in humans’ and to the untold testimonial use-cases for luxury-tools like ‘cryptocurrency’ and luxury-studies like ‘tokenomics’.
In this chapter, I have further highlighted the stories and histories involved in evolving the general tokenomics behind my ‘cryptocurrencies’.
It required ‘insight’, a lot of ‘legitimate illiteracy’, a lot of ‘mining my human’, a lot of ‘stubborn genes’, a lot of ‘evolving the dream into levels of spanlessless’.
Once again, we tend to circumvent the salient steps above, in the course of creating our cryptocurrency and formulating its tokenomics.
Hastily bringing a cryptocurrency dream to life and you won’t have the substantial conviction necessary to back it in the face of ‘bouts and bouts of odds’ and this will show because there will be ‘mountainous odds’. Well, the very dwindling of your own conviction will be heard by others, even in the undertone of your ‘cryptocurrency’ paper and its tokenomics.
“If you aren’t backing your vision strong, even you, they will back out.”
Well, getting to know yourself, till you can begin to marvel yourself, then you will be able to appeal to the soft-spot of any human. Marvelling yourself entails ‘appealing to your very own soft-spot’ and your soft-spot is located in your deep-side. ‘Mine your human’.
In turn, you can create a cryptocurrency the people want to hold, especially because they want to identify as ‘true fans’ of what you represent.
Yes, you can incorporate a directional element even within your tokenomics, giving it even ‘mentality-adjusting’ potency. Inside your cryptocurrency, you can encode a piece of you, a prayer, a touch, your spirit, a healing, stories and history, swag, presence, greatness, un-ordinariness etc. If you doubt me; think thrice!
Are you ready? Create a cryptocurrency that succeeds whether ‘bulls or bears’, because humans are involved.
Why not start the process of drafting your tokenomics now and when you need help, ‘I am your boy ‘Terry Ajayi’, whether bulls or bears.’
Contact me on ‘[email protected]’ or visit the ‘Macrohard’ hub, currently located in Manila, Philippines.