As many of you know, tomorrow marks a big change for Hive. A soft-launch for the VSC network is happening, and like you, I’m quite excited about it. I don’t want to count the chicks before they hatch, but I’m feeling very much like this is it—the thing that launches our beloved blockchain into the mainstream.
The idea that Hive could become the commercial highway for fee-less transactions gives me great hope for our future, but for now, I’m going to leave the cheerleading aside.
You see, I’ve been thinking a lot about the plethora of layer 2 tokens that are sure to show up along with it.
Tokenomics, as they are called, can be kind of difficult to design. They entail not only distribution as the most basic feature but also utility, which most of the time is the one piece of the puzzle layer 2 tokens struggle to solve.
In the pits of these types of conversations, I’ve saved a little nugget of wisdom from @pharesim that can set the tone for this conversation of ours.
The most likely scenario—and I hate to say this—is that we will end up with another collection of dead tokens on VSC. Pharesim’s comment on the matter may not say it literally, but it implies it: most tokens are not needed, not really.
That being said, very soon @buttcoins, @ecoinstant, and I will be scheduling a special podcast episode to discuss tokenomics—ideas on how to build an economy on top of the Hive blockchain, what works, what may work, and, more importantly, what truly doesn’t.
I’ve already reached out to some project leaders who’ve succeeded at launching their own tokens, and I’m in the midst of educating myself on “the how” at this point. But I suspect there’s a lot more I will be learning that day.
Anyway, for now at least, I’ll toast to the VSC launch in excitement.
MenO