With over 1000 analyzed ICOs across various networks from 2017 to present, the app helps web3 founders develop smart tokenomics with data to support their choices.
I have personally analyzed over 100 different ICOs during my time researching comps for my clients. One of the main questions I get is a pretty broad one: “Where do I start?” This is especially true for those who may have a tremendous amount of business savvy in the traditional “web2” world, but may be totally lost on the vernacular and mechanics of a successful web3 endeavor. My company Ascendant Finance built this tool to make it easier to find comps and see what they did in order to be successful: from their token allocation, to offer price, to utility.
There are some well-established principles with good tokenomics. We know that the token should have a clear purpose and utility to maintain long-term value; that there should be a scarcity mechanism and supply control; the token distribution should be well-spread and encourage high transaction volumes; and the smart contract should be audited, secure, and verified. These are great principles, but they say very little about the metrics of a good project and what those numbers actually look like. That’s why competitive analysis was something we believed was very critical for making the app useful for founders.
Furthermore, we found it crucial to organize these comps by the year they were launched. You would be surprised how many things have changed with ICOs over the years. For example, there are far fewer tokens with inflationary supplies or deflationary tokens with planned burned allocations. There is less of a concern for minimum and maximum buy amounts. You also see fewer allocations with gargantuan amounts going to private investors, founders, and advisors. Initial coin offering prices are also lower.
A big question I often get from founders next is “what network should I build on?” My first answer to this is usually whatever network has the most community support for your project, or whichever foundation is willing to grant you some start-up money. If you don’t have a solid answer for either of those, we also compiled stats by year and by utility, how much projects built on each network fundraised.
It’s important to note there is no “moon” formula for tokenomics. There is even less guidance out there on how to run a sustainable web3 company (the industry isn’t old enough). But what is most important is to be able to clearly convey why you made the choices you made when designing your launch plan, the network you chose, the comps you used, and where did you distinguish yourself. The tool should be a good starting point for you to accomplish this.
Guests are free to examine the database charts, but in order to use the tokenomics builder, sign-up is required. But the entire app is completely free to use!
TechJD teaches developers how to transition to or start a career in web3. He discusses topics that go beyond just the code, including the business and legal aspects of running a successful web3 startup or being an impactful member of a team. You can learn more about the CryptoCadet Academy here or join the Discord.
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