There's nothing to do. It is unbeatable. The teaching of my late Master continues to prove its potency.
My last article, which can be read here, written as a short story for kids, brought me 2x new followers and was read by 15x more people than my most read article so far.
People get hooked on the little stories and don't forget them.
Thank you all!
I remind you, I am writing this Tokenomics blog because I am interested in the fundamentals of projects that in my opinion can revolutionize the world and change it. I try to imagine a totally decentralized near future, without banks, without corporations, and without hierarchies of any kind. My anarchist utopia always present.
Tokens are representations of digital value, which came to solve the problems caused by absolute corporate power asymmetries.
Why do we need tokens?
It is logical to ask, if the majority of DApps run on the Ethereum network, then why is Ether not directly used to pay for everything? Why is another coin needed?
It is very simple, with an example from real life we realize very easily: We go to a rock concert and they put a wristband on us so that someone later knows that we are allowed to enter the stadium. The concert is the Dapp, your money is the Ether and the wristband is the token.
Image of shbs in Pixabay
That is, using tokens to implement certain actions in DApps smart contracts, the process becomes much faster and more efficient.
The revolution we are experiencing by tokenizing our lives in blockchain networks and other decentralized ledger mechanisms is so great, that we can only sit back and wait for the future to come.
My intention is to reason together the scope of Tokenization and the future forms of coordination that humanity will face.
With that said, let's move on to today's two tokens: STA and MANA.
Statera (STA) is an Ethereum-powered deflationary token pegged to an index fund.
A few months ago I wrote an article in Publish0x about STATERA. It was referring to the way in which I imagined a future in which a cryptocurrency could serve as a common payment method in franchise networks around the world, showing all users how each transaction, that is, the purchase of some product in a franchise, served to lower the existence of that currency and, therefore, to give it more value.
The STATERA project seems like a gamechanger to me, and since then, I hodl some STATERA. What captured me the most from the start was the “deflationary” concept. There were already other currencies that burned tokens, such as Binance, and there are others that now do too. But I understand that STATERA was the first to conceive of systematic deflation of 1% of every trade on every transaction, and that was unique at the time.
Having been born and lived my whole life in Argentina, the concept of "deflationary" is like music to my ears.
Deflation is a powerful market mechanism.
Deflation also creates a loyalty and holding incentive. The earlier a user buys STA, the higher the supply will be. The longer they hold, the lower the supply will go. As the user continues to hold, the decreasing supply continues to put positive price pressure on their holdings. This incentivizes the best practice of buying and holding, while intrinsically rewarding brand loyalty to Statera.
The deflation incentivizes savings (as the value goes up over time with reducing supply) and encourages positive economic choices.
Many believe that STATERA may be the Bitcoin of DeFi and indeed, it is already the most decentralized currency of DeFi.
But what I like the most is the fierceness and nobility of the community. The hashtag #WeAreAllStatera is an emblem. STATERA started from the beginning in a totally decentralized way and hierarchies cannot be distinguished. This is totally new in the crypto-sphere. I always try in my due diligence processes to find the development team and the management team of the project in question. But at STATERA, the team is the community, especially the Telegram community. The core members are all in the Telegram community. There is a mystical air over there.
STATERA is actually a self-sustaining ecosystem, which has all the sufficient energy sources to function and grow.
The current ecosystem consists of three pools.
TOKEN STA - Holding this token allows a holder to benefit from the price action of the whole ecosystem.
UNISWAP POOL TOKENS STA Delta Token - an ERC 20 standard token which is 50/50 STA / ETH. This will earn the user fees, will be trade-able, and can be used to add to the Phoenix Fund.
BALANCER POOL Phoenix Fund - a secure deflationary index fund of 40/30/10/10/10 STA Delta / wETH / wBTC / LINK / SNX. This is STATERA’s most diversified option and yields fees from the Delta token and the Balancer pool.
I have heard the term "sound money" many times, and have read various definitions, especially those that are part of the Austrian School’s fundamentals. From my point of view, STATERA and its immutable policy of deflating 1% of its liquidity on each transaction, is the perfect definition of “sound money”.
Do you remember Second Life?
Second life was officially released in 2003. And it still lives on, although I don't think it can be considered a success. I used to be a great Second Life enthusiast from the beginning, and even set up a virtual environment for my own company on this platform and worked from there for a long time, believing that I was facing a great revolution. But suddenly, I don't know what happened, Second Life lost its initial strength. I asked in related forums, but never received a satisfactory explanation.
Second Life was for me an announcement of what was brewing and was going to appear one day. Linden Labs, the owner of Second Life, had created a virtual currency for the platform !!!, in 2003 !!!!, the Linden Dollar, which could be exchanged for legal tender. Second Life residents could do business with that currency within the Second Life universe. Explaining this 17 years ago was almost from the Tolkenian world of the Lord of the Rings. Satoshi Nakamoto at that time would still be studying at Mount Fuji…
Image of Yuki Mao in Pixabay
When you enter Decentraland, you have the impression of entering Second Life. Take the test. Here are both links. Second Life. Decentraland. But times have changed a lot. Now we have Decentraland managed by a DAO.
I love the Decentraland project. The big difference is that Decentraland is mounted on the Ethereum blockchain and then, virtual reality is totally decentralized. Second Life was probably killed by centralization.
Check out this short trailer before continuing. Real Player One.
In the virtual world of Decentraland, you can buy land, build on it, sell it, and interact in all kinds of situations in the form of DApps and content created by yourself and other residents. As in Real Player One. The backing of your possessions in Decentraland is the Ethereum blockchain.
Decentraland has a native currency called MANA. It is an ERC-20 token. With MANA you can buy land, farms, skins, names and other items for the avatars, all within the ecosystem.
But the most interesting thing is that Decentraland also gets into the field of NFTs, with a non-fungible token called LAND. (Almost no one doubts that after DeFi, NFTs will be the next big thing).
LAND is a non-fungible token (NFT) that identifies a parcel of land in the virtual 3D world of Decentraland, and resides on the Ethereum blockchain. A player has the opportunity to own any LAND he/she have purchased, and title deeds can be traced through the blockchain. In this way, the player has full control over the 3D scenes he/she want to build on his/her LAND.
Individual parcels can be combined to form estates to interact in more situations. LAND can be purchased with MANA, and it can also be purchased from secondary NFT markets like OpenSea.
MANA can also be used to pay for products and services on Decentraland, and can be bought on various centralized and decentralized exchanges, and also on Swap services.
Decentraland provides an easy-to-use Builder Tool for gamers lacking design qualities, and other more advanced tools for developers who want to build applications and social networks.
Decentraland is then the first fully decentralized “world”, and is controlled by a DAO, which owns the smart contracts and the most important assets of the platform. Through the DAO, residents vote on how the “decentralized world” should work. This can be a huge experiment for the next voting systems that will exist in the real world. In this way, virtual reality can act as a great test laboratory for research the future behavior of society.
Our view of "reality" can be highly influenced by using a platform like this, while investing in the crypto-sphere, both with ERC-20 and NFTs.
Thank you for reading!
I hope to see you in the next episode!
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