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DESIGNING TOKENOMICS and TOKENS 2.0
William Mougayar
Investor, Advisor, Board Member
Author, The Business Blockchain
Founder, The Token Summit and WMX
@wmougayar
Zug, 22 Nov 2017
What is Tokenomics
1.  How you design your token role
2.  How you distribute your tokens
3.  How you govern your token
monetary policy
© 2017 William Mougayar @wmougayar
What is a token?
A cryptocurrency with a special purpose
© 2017 William Mougayar @wmougayar
The killer app for the blockchain is
not tokens, but it is the creation of
private economies or ecosystems.
Tokens are just enablers to that.
© 2017 William Mougayar @wmougayar
What is that Purpose?
© 2017 William Mougayar @wmougayar
How are we doing that?
By giving the token a utility:
ü  Right
ü  Ownership
ü  Work
ü  Currency
Tokens 1.0 vs. Tokens 2.0
Copying what we see
vs.
Inventing what we don’t see
© 2017 William Mougayar @wmougayar
ACID TEST for Tokens
1.  What would happen without the
token?
2.  Why do you need a blockchain?
3.  What is the blockchain enabling
that wasn’t possible before?
© 2017 William Mougayar @wmougayar
What is a token?
A unit of value that an organization
creates to self-govern its business model,
and empower its users to interact with its
products, while facilitating the
distribution and sharing of rewards and
benefits to all its stakeholders.
© 2017 William Mougayar @wmougayar
If you are thinking “Tokens”
1.  A token is not a carrot
2.  Token must be native to the
blockchain for maximum
leverage
3.  If not, proving the Token-to-
Market Fit will be more difficult
© 2017 William Mougayar @wmougayar
Token-to-Market Fit
is the new
Product-to-Market Fit
© 2017 William Mougayar @wmougayar
Token Value Proposition
By Whom will the token be
used; How; at what Cost; for
what Benefit; and Resulting in
what Valuable Transactional
Activity?
© 2017 William Mougayar @wmougayar
Reality Check: Disconnect Between
Key Relationships
1.  Value vs. Valuations
2.  Monetary Policy vs. Economic Model
3.  Demand vs. Supply Drivers
© 2017 William Mougayar @wmougayar
BLOCKCHAIN IS 90%
GOVERNANCE AND BUSINESS
MODELS.
THE OTHER 50% IS TECHNICAL.
© 2017 William Mougayar @wmougayar
Some Critical Factors
1.  Regulation
2.  Funds
3.  Scalability
4.  “Better” blockchains
5.  On-chain governance
6.  Role of Foundations
© 2017 William Mougayar @wmougayar
There is no silver bullet for designing or
complying
I hope a lot more good Apps come out of
$250 Billion than just currency usage
Need more blockchain, and less Token
© 2017 William Mougayar @wmougayar
THANK YOU
William Mougayar
Investor, Advisor, Board Member
Author, The Business Blockchain
Founder, The Token Summit and WMX
@wmougayar
wmougayar@gmail.com
http://startupmanagement.org/blog
Zug, 22 Nov 2017

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WIlliam Mougayar Designing Tokenomics and Tokens 2.0

  • 1. DESIGNING TOKENOMICS and TOKENS 2.0 William Mougayar Investor, Advisor, Board Member Author, The Business Blockchain Founder, The Token Summit and WMX @wmougayar Zug, 22 Nov 2017
  • 2. What is Tokenomics 1.  How you design your token role 2.  How you distribute your tokens 3.  How you govern your token monetary policy © 2017 William Mougayar @wmougayar
  • 3. What is a token? A cryptocurrency with a special purpose © 2017 William Mougayar @wmougayar
  • 4. The killer app for the blockchain is not tokens, but it is the creation of private economies or ecosystems. Tokens are just enablers to that. © 2017 William Mougayar @wmougayar What is that Purpose?
  • 5. © 2017 William Mougayar @wmougayar How are we doing that? By giving the token a utility: ü  Right ü  Ownership ü  Work ü  Currency
  • 6. Tokens 1.0 vs. Tokens 2.0 Copying what we see vs. Inventing what we don’t see © 2017 William Mougayar @wmougayar
  • 7. ACID TEST for Tokens 1.  What would happen without the token? 2.  Why do you need a blockchain? 3.  What is the blockchain enabling that wasn’t possible before? © 2017 William Mougayar @wmougayar
  • 8. What is a token? A unit of value that an organization creates to self-govern its business model, and empower its users to interact with its products, while facilitating the distribution and sharing of rewards and benefits to all its stakeholders. © 2017 William Mougayar @wmougayar
  • 9. If you are thinking “Tokens” 1.  A token is not a carrot 2.  Token must be native to the blockchain for maximum leverage 3.  If not, proving the Token-to- Market Fit will be more difficult © 2017 William Mougayar @wmougayar
  • 10. Token-to-Market Fit is the new Product-to-Market Fit © 2017 William Mougayar @wmougayar
  • 11. Token Value Proposition By Whom will the token be used; How; at what Cost; for what Benefit; and Resulting in what Valuable Transactional Activity? © 2017 William Mougayar @wmougayar
  • 12. Reality Check: Disconnect Between Key Relationships 1.  Value vs. Valuations 2.  Monetary Policy vs. Economic Model 3.  Demand vs. Supply Drivers © 2017 William Mougayar @wmougayar
  • 13. BLOCKCHAIN IS 90% GOVERNANCE AND BUSINESS MODELS. THE OTHER 50% IS TECHNICAL. © 2017 William Mougayar @wmougayar
  • 14. Some Critical Factors 1.  Regulation 2.  Funds 3.  Scalability 4.  “Better” blockchains 5.  On-chain governance 6.  Role of Foundations © 2017 William Mougayar @wmougayar
  • 15. There is no silver bullet for designing or complying I hope a lot more good Apps come out of $250 Billion than just currency usage Need more blockchain, and less Token © 2017 William Mougayar @wmougayar
  • 16. THANK YOU William Mougayar Investor, Advisor, Board Member Author, The Business Blockchain Founder, The Token Summit and WMX @wmougayar wmougayar@gmail.com http://startupmanagement.org/blog Zug, 22 Nov 2017