Mike’s Cryptosystems Manifesto

A token is a necessary element of a system if the use of any other in its place would damage the system’s normal functioning.

A system is a public utility if it is permissionless, rent-free, and does something useful.

A token must work as a necessary element of a self-sustaining system which is a public utility.

A system is self-sustaining if it would continue to function normally in the indefinite absence of its creators.