🕛When to Release Tokens?
Key Takeaways
In the context of crypto, what is a token? It is units of value that blockchain protocols develop on top of existing blockchain networks. Tokens enable user ownership.
Why is this an important question? An early token release could skew product market fit whilst releasing a token too late might result it not working well with the product.
When should I release a token? Variant, an early stage crypto fund, have developed the “Core to the Product” framework to tackle this problem.
“The more necessary a token is for the product to function, the earlier it should be released. On the other hand, the more adjacent a token may be, the more optionality there is for the function of the token and the longer founders can delay a token launch.”
Example of core token release? Layer 1s such Ethereum or Bitcoin where tokens help to secure the network and are economic units of account.
Example of an adjacent token release? This involves public good funding, governance rights, rewarding contributions to the network etc. This key point to remember is that adjacent tokens should be launched only after finding product market fit.
Sources:
When to Launch a Token by Alana Levin
👩🏻🤝👨🏽Community
Key Takeaways
Community is defined by 4 criteria: membership (sense of belonging), influence (you can impact the group and they can impact you) , integration and fulfillment of needs (feels like your needs will be met by other group members) , and shared emotional connection (feel that you share similar experiences).
Find your place in a community involve:
1 → Seeks out groups that you wouldn’t mind spending a couple hours with.
2 → Make it a habit. For true relationships to forge, you need to show up and add value.
2 → Be patience. Forging these connections takes time and effort, and you must risk rejection.
Sources:
Why community matters so much - and how to find yours by Allie Volpe
📱QR Codes
Key Takeaways
Initially, Quick Repsonse (QR) codes were created to help companies track vehicles and parts as they moved through the transportation and manufacturing processes. QR codes took off after automotive manufacturers adopted the QR tracking system throughout their factories.
Domestic QR code usage increased significantly when Japanese consumers were able to purchase phones equipped with QR scanners.
In 2012, QR codes had made its way to the west. However, the user experience was extremely frustrating to make a real impact.
“Most of the time, the user would point their phone at a QR code for a while only to realize they first had to download a third-party app in order to scan it.”
In 2017, QR had a resurgence when Apple released iOS 11. The update included support for iPhone to scan and recognize QR codes. Again the comeback didn't last long as the use cases were limited.
In 2020, the Coronavirus happened. Due to social distancing, a contactless solution was deemed necessary to view menus, make payments, make returns etc.
Sources:
Rise and Fall of QR Codes: How Pandemic Revived Them by Jonathan Baker
If you would like to have a chat about anything above, send me a DM on LinkedIn.
Thanks for reading!
jjkol💫