A Token Economy Governance Model

Governance in the blockchain context revolves around mechanisms that allow decentralized systems to evolve in time. The paper proposes a conceptual goal model for a token economy governance structure (TEGS). This was accomplished by completing a narrative review of existing literature from various academic databases. The findings of the review result in a seven-step TEGS goal model that includes: defining the governance areas and stakeholders, defining the level of decentralization, defining on-chain or off-chain mechanisms and desired voting mechanism properties, defining core voting mechanisms and support mechanisms for voting. Future research will incorporate technical specifications about best code-writing and quantitative parameters for voting mechanisms.