This chapter introduces a token ecosystem design framework. A fundamental analogy is postulated in the beginning, that of designing the economy of a country that just came into being. This allows to interpret all facets of token ecosystems in reference to basic concepts from sociology and economics. Design decisions then evolve naturally as transpositions to the digital world of concepts and practices from traditional human ecosystems in the physical world. Armed with the understanding that this analogy allows, the design framework is explained as mainly consisting of three pillars: market, mechanism, and token designs. The structural design of the economic agents active in the ecosystem is the market design. The behavioural framework for said economic agents to interact amongst themselves is the mechanism design. The design of the media of exchange and stores of value is the token design.The current chapter is focused on the first pillar, namely market design.

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Market Design

  • Ioannis Giannakouros

摘要

This chapter introduces a token ecosystem design framework. A fundamental analogy is postulated in the beginning, that of designing the economy of a country that just came into being. This allows to interpret all facets of token ecosystems in reference to basic concepts from sociology and economics. Design decisions then evolve naturally as transpositions to the digital world of concepts and practices from traditional human ecosystems in the physical world. Armed with the understanding that this analogy allows, the design framework is explained as mainly consisting of three pillars: market, mechanism, and token designs. The structural design of the economic agents active in the ecosystem is the market design. The behavioural framework for said economic agents to interact amongst themselves is the mechanism design. The design of the media of exchange and stores of value is the token design.The current chapter is focused on the first pillar, namely market design.