Ross Shuel

Aug 8, 2024 | a16zcrypto.com | Mason Hall |Porter Smith |Miles Jennings |Ross Shuel

For infrastructure tokens — which correspond to a Layer 1 network (or an adjacent part of the computing stack like Layer 2) — economic models are well-developed and understood, rooted in the supply and demand for blockspace. But for application tokens — smart contract protocols deploying services on top of  blockchains that relay rights in “distributed businesses” — economic models are still being solved.  App token business models should be as expressive as their underlying software.