Tokens and ICOs: A review of the Economic Literature, with Andrea Canidio, Vincent Danos and Stefania Marcassa, This article is a part of Principles of Blockchain Systems, Synthesis Lectures on Computer Science, 2021, Vol. 9, No. 2 About the book This book is the first to present the state of…
We propose a framework for the fundamental valuation of utility tokens. Our model endogenizes the velocity of circulation of tokens and yields a pricing formula that is fully microfounded. According to our model, tokens are valuable because they have to be immediately accessible when the services are needed, a requirement…
It is widely believed that financial markets cannot be liquid without centralised processes to manage counterparty risk. We propose an alternative method for liquidity based on reversible and composable contracts run atop a blockchain. Novel instruments for zero-collateral intermediation can be defined.
Tokenomics is an international forum for theory, design, analysis, implementation and applications of blockchains and smart contracts. The goal of the conference is to bring together economists, computer science researchers and practitioners working on blockchains in a unique program featuring outstanding invited talks and academic presentations.
