Introduction to Token Engineering for Web3 Platforms
What you'll learn
- Role of Tokens on Web3 Platforms
- Basics of Token Economics
- Achieving Product KPIs using Token Engineering
- Behavioral Models in Token Engineering
- Value Perspective of Token Engineering - Value Framework
- Role of Token Engineering in Platform Design
- Token Engineering Case Study
- Basic understanding of Web3 Platforms
- Python Coding - Basics
Everyone knows that web3 platforms are decentralized…but what really enables decentralization…tokens…
The distribution of value and control in the decentralized ecosystem is primarily driven by various kinds of tokens.
Tokens are often touted as investment opportunities but the primary role of tokens on web3 platforms is to capture the value generated by the platforms and distribute value and control among the network participants to incentivize them so that they behave in a way that contributes to the smooth functioning and growth of the ecosystem itself.
Now, Token engineering is the discipline that deals with designing token systems to achieve the product and economic goals for which the platform is being built.
OK. this can be a lot to take….let us simplify that.
Once deployed decentralized platforms act as self-sovereign systems i.e. cannot be controlled from outside. Now, tokens incentivize platform participants so that they behave in a way platform builders intended them to and ultimately contribute towards the growth of the platform.
Token Engineering is not a simple subject to learn - It is an interdisciplinary subject that borrows concepts from economics, system design, behavioral science, etc.
So, mastering Token Engineering is neither easy nor can be done quickly. But understanding Token Engineering is absolutely vital for designing well-functioning web3 platforms.
Now, this course will introduce you to different facets of token engineering so that you understand the basics and create a framework for future learning. We will also try to design a token model for a hypothetical decentralized application.
So, let us get started.
Who this course is for:
- This course is primarily for engineers and builders who want to build web3 platforms.
Sam Ghosh is an engineer, holds an MBA from the University of Calgary, and completed all three levels of the CFA Program.
He has been an entrepreneur in the FinTech domain. He writes for London-based Fintechna and helps grow awareness about Web3 technologies with various kinds of media.
He has written various books on economics. finance and business.