'The Super Token Thesis' by RepublicCrypto blockchain blockchaintechnology
who are not demonstrated monopolies yet, but have potential), while still preserving the equitability of a multi-party ownership structure? Completely open-sourced, the SuperApp would effectively operate as a multichain API wrapper running on top of multiple L1s. Similar to WeChat’s mini-programs, these APIs can be thought of as sub-programs within the SuperApp, where each API would ideally use the Super Token as its native currency.
The fundamental incentive a potential API player has to fly under the wing of another super token is bootstrapped distribution and de-risking. Why put in all the operational and capital expenses to silo user attention, only to fall short at the hands of first-movers or Web2 incumbents? With Super Tokens and their Super Apps, a distribution platform and token performance is offered that can be piggybacked on for adoption.
At its core, infrastructure is what gives a token value. If the hub is successful at capturing certain traffic and user engagement, then its token may become super if it facilitates usage of that infrastructure in a meaningful way . A conglomerate of user-facing applications would be incentivized to collectively invest in public goods infrastructure that benefits everyone at the end of the day.
Doing away with the vision of users holding dozens of utility tokens, we enter the realm of payment mechanisms that can take a user from a fiat/major crypto entry point straight to receiving utility from the app, without additional steps and crippling fees added on top.At this point, it should be clear that the goals of a Super Token are not fundamentally different from that of any successful utility/currency.
While these questions seem like high school economics topics, it’s clear that fundamentals have been forgotten and that sobriety is the scarcest resource among projects and their token designers. To focus and build protocols and businesses that last the generation, we need to tune out the noise and stick to historically validated fundamentals, where we can look back on the wildly successful Web2 era for inspiration.
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