Tokens are essentially economic incentives anyone can use them to convince stakeholders to behave in a certain way (e.g "if you do this, expect the value of your tokens to increase; if you do that, you will get burnt and lose all your tokens"). Because tokens are a class of cryptocurrency, their are programmable money. If handled properly, they are very powerful; handled poorly, they are fearful and unforgiving.
The key of a token design is to correctly align incentives between stakeholders. The way programmable forces (incentives and disincentives) kick in while users interact with a token is called a mechanism. Mechanism design is what you do to give a token its structure for the incentives and disincentives to work.
Designing a token is normally justified by a desirable outcome: a common objective for the community to pursue. Ideally, economic incentives are aligned such that every stakeholders, while having different values and motivations, and acting in their own best interest, are always participating in getting to the desirable outcome.
We want to work on projects that make the ecosystem stronger by bringing new functionalities to the largest group of people
Decentralisation should not be taken lightly. There won't be any central point of failure, centralised authority, nor controlling third parties in our designs
We stay out of the hype. No get rich quick projects with us. Only justifiable uses of distributed ledger technologies will get a design from us
Skin in the game
We want to be as responsible mechanism designers as we can. Therefore where possible, we will assume some risks along with our clients
A running organisation already has a business model, a structure, and a set of capabilities. It is also likely that a running organisation was funded based on a specific business model. Running organisations looking into integrating a token into their operations will face potential issues with opposing forces between the centralised elements of the organisation and the decentralised nature of a token economy. The necessity of remaining in control is especially problematic with existing organisations.
A new organisation can create a new business model with more flexibility but will face issues common with every new organisation: building a sustainable business model.
- Business Model Analysis
Defining a value proposition for your project is a safe starting point to make sure the token is going to make sense. We based our assessment of your project on the Canvas Business Model – with a few tweaks necessary to account for the nature of a token-based economy.
- Pre Token Design
The idea is to produce enough evidence for you to decide if introducing a token into your business model actually makes sense or not. Generally, a few plausible token designs will be discussed. Specific high level recommendations will be provided in order for you to know what you are getting yourself into.
- Token Design
The Token Design builds on the Pre Token Design to include specifications, technical or otherwise, that are necessary for building the token. It also includes the necessary steps to get to the development stage of the token like cryptoeconomics, token engineering and usability of the token.
- We will never help you design a token that we think doesn't make sense
This is why we designed our approach in designing token as a sequential process. So you can move along in the development with the highest confidence but also, if needed, in order to stop the collaboration at any of the steps.
- We want you informed
Our goal is to help you be a valuable player of the crypto ecosystem. Being a true believer of the values of Distributed Ledger Technologies is certainly a must. According to your background and where you are on your journey, you might want to ask us for a training to fill the gap you might have.
- A white paper is the last thing you want
We simply don't write white papers without going though the token design first.
- We want you involved
We'd like to be seen as members of your team, rather than subcontractors. Expect to be involved in the dirty works as much as possible.