Токеномика

Tokenomics is the economic model of a crypto token or project. The term combines the words token and economics. It describes how many tokens are issued, who receives them and on what terms, what the token is used for within the ecosystem, and which mechanisms affect its supply and demand.

## What it consists of

Tokenomics usually includes the total and circulating token supply, the allocation between the team, investors, a development fund and the community, vesting and unlock schedules, the token's utility (paying fees, voting, staking, access to the service), and the rules for burning or inflation. These parameters are usually published in the project's documentation, but how complete and honest that documentation is varies widely.

## How it works

A token's price depends on the balance between supply and demand. If most tokens are locked and gradually enter the market, sell pressure rises at the time of each unlock. If the token is needed to pay for services or for staking, part of the supply is removed from circulation. As a result, the same supply figures can imply very different risks depending on the unlock schedule and the token's actual use.

## Where it applies and what it affects

Tokenomics is reviewed before exchange listings, when evaluating ICOs and IDOs, in analysis of the crypto vertical, and when launching airdrop campaigns. It matters for arbitrage specialists and media buyers when promoting crypto wallets, exchangers or projects with a token, because audiences often buy a token on expectations of growth rather than on the value of the product.

## Common mistakes

The most common mistake is looking only at the total supply and ignoring unlock dates. The second is confusing inflationary and deflationary tokens without checking the actual burn mechanics. The third is treating an attractive allocation chart as tokenomics without describing who actually owns these shares and when they become available.