Tokenomics: When Tokens Beat Equity

In a token offering, investors fund a venture in exchange for tokens that grant rights to future economic output. To many financial industry insiders, tokens have no intrinsic merit and exist only as a way to evade regulations. We demonstrate that generic revenue-based token contracts are indeed eco...

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Veröffentlicht in:	Management science 2023-11, Vol.69 (11), p.6568-6583
1. Verfasser:	Malinova, Katya
Format:	Artikel
Sprache:	eng
Schlagworte:	blockchain decentralized finance Digital currencies Equity Finance Financial services initial coin offerings Investors Management science Moral hazard Regulation Revenue tokens Ventures
Online-Zugang:	Volltext
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