-Participatory decision-making and cooperative business models: From this standpoint, crypto tokens represent one of the most promising innovations for enabling ownership to be distributed and transferred on the internet as easily as information.

• Example 1 – We all agree that a token is worth $1bn based on the potential income from earning it. However, they have some weird really high issuance, and you live in a place where that would create a huge tax burden. You probably won’t buy the token, but someone living in a jurisdiction that doesn’t tax their issuance rewards should be willing to

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In both cases though, you also need to care about the net income of all token holders in aggregate. That is the measure of the token’s overall value capture from generating income, and hence is a major component in its valuation. Imagine a network with high issuance and low staking participation. The income statement for stakers might look great. B... See more

Are you supposed to hold this token as an investment? Or is it a token you’re supposed to spend?  Is some mechanism where you get paid for holding and using a token?