Field Note #18. On "Simplistic (and Basic) Justification of Tokens"

Source: Hasu, "Why I've Changed My Mind on Tokens," avail. online (Dec. 2020)

An otherwise (too) simplistic treatment advocating for the existence of (traded) tokens in cryptonetworks meant for mass consumption.  Nonetheless points to ponder...

  • Token Maximalism, Governance Minimalism.  "Token maximalism simply shouldn't go along with governance maximalism just because developers feel a need to give additional functionality to their tokens.  Governance minimalism is still king, even if the project has a native token."
  • "Don't just ask 'why does xyz need a token?' but also 'how can xyz support a token?’”
  • "[P]rotocols that tokenize late adopter utility to reward early adopters will most likely outcompete protocols that don't and rely entirely on organic growth."
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