Two tokenomics experts, Yan Liberman, co-founder of Delphi Digital, and Viktor Bunin, protocol specialist at Coinbase Cloud, discuss their experiences building tokens, their thoughts on the recent ENS/PSP airdrops, and what “fair” token distribution looks like. Show highlights:

• the definition of tokenomics
• what factors (such as utility, fairness, liquidity, security, etc.) token designers are incentivizing for
• what Yan learned from helping design Astroport tokenomics
• what Vikor learned from helping design Threshold, the token that was built to facilitate the merge of NuCypher and Keep
• how the EIP 1559 burn has changed Ethereum’s tokenomics
• how EIP 1559 has improved investor outlook for Ethereum
• why Viktor is worried about people actually using Ethereum going forward
• what Viktor and Yan think about how the ENS airdrop farming issue was handled
• what Viktor and Yan think about ParaSwap’s PSP airdrop and why Viktor thinks ParaSwap made a “mistake”
• how Viktor and Yan would go about airdropping a token to good actors instead of bad actors
• how improvements in on-chain identity could help future airdrops 
• fair launch tokens versus VC-backed tokens
• what the definition of fair is in terms of tokenomics
• why Viktor thinks a token’s distribution is more important than a token’s launch
• what could be the optimal way to distribute liquidity mining rewards
• how community affects tokenomics
• how to incentivize NFT-based tokens, like the forthcoming Bored Ape Yacht Club token, for the right goals 

 

 

Thank you to our sponsors!

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Yan Liberman -- co founder at Delphi Digital

• LinkedIn: https://www.linkedin.com/in/yanliberman
• Twitter: https://twitter.com/yanliberman 

 

Viktor Bunin -- protocol specialist at Coinbase (Bison Trails)

• LinkedIn: https://www.linkedin.com/in/viktorbunin 
• Twitter: https://twitter.com/ViktorBunin 

 

Tokenomics 101 Primers:

• The Tie: https://research.thetie.io/token-economics/ 
• Smith and Crown: https://smithandcrown.com/research/issues-of-fairness-in-token-distribution/ 
• A Timeline of Token Distributions: https://blog.coinlist.co/the-evolution-of-token-distribution-models/ 

 

Recent Airdrops + Airdrop farming

• PSP:  
• • https://medium.com/paraswap/introducing-the-psp-token-to-make-paraswap-even-more-efficient-and-decentralized-c4730e50be72 
• ENS: https://twitter.com/ensdomains/status/1457862602239926274
• • https://twitter.com/nicksdjohnson/status/1456424366850281488 

 

Airdrop Farming

• Potential airdrops coming up: 
• • https://www.coindesk.com/business/2021/11/09/missed-the-ens-airdrop-here-are-the-crypto-projects-rumored-to-decentralize-next/ 
  • https://newsletter.banklesshq.com/p/the-ultimate-guide-to-airdrops
  • https://www.trustnodes.com/2021/11/14/ethereans-sneak-to-zksync-for-airdrop-farming 
• PSP drop w/ heavy requirements
• • ​https://www.coindesk.com/tech/2021/11/15/dex-aggregator-paraswap-launches-psp-token-on-heels-of-ens-airdrop-excitement/  
• ENS Blacklist
• • https://twitter.com/nicksdjohnson/status/1456048492141441027 

 

Topics Mentioned

• Astroport tokenomics
• • https://astroport.medium.com/hello-astro-announcing-the-astroport-governance-token-drops-a07a1bf3ed94
• NuCypher + Keep merge
• • https://decrypt.co/73800/forget-hard-fork-what-happens-after-kee-nucypher-hard-merge
• SushiSwap vampire attack
• • https://finematics.com/vampire-attack-sushiswap-explained/ 
• Tokemak tokenomics
• • https://medium.com/the-capital/defi-2-0-is-it-the-next-wave-of-cryptocurrency-4499e838ea44 

 

Miscellaneous

• What is liquidity mining?
• • https://medium.com/coinmonks/what-is-liquidity-mining-and-how-does-it-work-d0ab491e607 
• The Internet of Money (recommended by Viktor)
• • https://theinternetofmoney.info/ 

 

Other Fun Topics 

• How Token Governance Mechanisms can be implemented
• https://outlierventures.io/research/what-is-the-secret-to-building-valuable-tokens-part-2/
• Crypto Gaming economics
• https://outlierventures.io/research/p2e-2-0-a-new-economic-model-for-gaming-based-on-crypto-tokens/ 
• Does farming represent progress in token distribution?
• https://smithandcrown.com/research/adaptations-in-token-distribution-mechanisms-does-farming-represent-progress/ 
• Should treasuries hold native tokens?
• https://twitter.com/AntonioMJuliano/status/1460278949867442182 

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