Braintrust: Fighting Capitalism with Capitalism

Whenever Fiverr and Upwork want to incentivize someone to do something, they have to dip into their bank accounts and pay in dollars. Want someone to tell their friends? $10 referral bonus! Need a salesperson? $100K a year. When the DAO that controls Braintrust decides they want someone to do something, they can just pay in their native token. Thes... See more

Braintrust does have a revenue model in the form of taking a % - they take 10% from employers. The innovation here is replace the middleman with software and use a token to incentivize community behavior like inviting talent, inviting clients. Braintrust doesn't spend $ on marketing - the core innovation is taking cost of acquisition to zero by giv... See more

Incentive DesignTokenomics are a tool for aligning the incentives of participants in a network. It is extremely important to identify what behavior is required from each participant in an ecosystem in order for the network to achieve a virtuous cycle. Equally important is designing suitable token incentives that encourage the desired market behavio... See more

So far, this post has focused almost exclusively on tokens’ ability to capture value by generating income streams for their holders. They are productive capital assets. This may very well be sufficient to value most tokens in the long-run. Equity-like analysis will do the trick here. Think DCF and DDM.

However, valuing tokens based on cash flows rem... See more