Token Engineering Academy

Transcript

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okay we start in a moment hello everyone great to see you all here okay welcome to this first token engineering track day at ECC I'm super glad that we have the chance to run a full day of token engineering talks um we have designed a great program um I'll walk you through it in a moment

and I hope this will make token engineering even more popular well understood because it's a super important domain for the progress of the crypto sector um this first token engineering track day would not have been possible without a great team so the tea Academy token engineering Academy is organizing this day we have a global community of people studying token engineering and contributing in tools um in events and particularly the Paris events which is today this token

engineering day at FCC and the park came on July 22nd has been organized in collaboration with the French Community Stefan who is a token engineer founder of zero X Shadow lab where AC is here yeah he'll be here in a moment Patricia ecosystem leader tea Academy over there Caitlyn Newcomb she's comps lead working in the background Nate suits and Gideon fronti Commons shoes from French community and last but not least for Tina Bruno Feller from the ECC organizer team yeah thank you guys for making it a reality

very important um yeah today the program is about crypto tokens from a maker perspective our goal is to provide information and insights for crypto Founders for crypto startups how to put token Engineering in practice this is our program today so we'll run talks throughout the day we'll have panels and interactive sessions as well and I'll get to this in a moment we also put together a speaker guide so all information you need can be found here at this guide including the agenda of the day how to claim your nft

the location and more about anything you might want to know about token engineering so feel free to get to this guide and we'll have also Flyers with the QR code so no worries so first what is token engineering some of you might have heard token engineering this term um basically in a nutshell it's an emerging crypto native discipline focusing on the design validation and optimization of token-based systems and some I mean have heard maybe about tokenomics crypto economics now why do we call it engineering this

is because we not say okay this is a technical angle of tokens it's rather we are building on the tradition of engineering disciplines which our fields of rigorous analysis design and verification and we have tools that reconcile Theory with practice and we are Guided by a sense of responsibility because we are building public infrastructure so this is the reasoning behind why do we call it engineering and we consider it as a new engineering field in its own right drawing from

disciplines like computer science and cryptography obviously economics Game Theory mechanism design also operations research decisions science and math apply to Optimal decision making industrial and systems engineering and since we have data at a granularity about economic systems like never before we can apply optimization control theory we can optimize with AI and data science tools and in addition to that it's not only Technical Systems it's the human layer as well psychology decision science human behavior

governance decentralization and also law and ethics so you see this is a cross-disciplinary field and when we started te Academy our main motivation was realizing that you can actually study this nowhere no university offers a program like this you we have to or the big opportunity is that we can combine these fields and that we can develop it in the crypto sector not coming from the outside world and tackling the challenges that we have in

crypto to leverage the full opportunity of crypto token systems so this was the starting point of token engineering Academy we built a first course program a first comprehensive curriculum about token engineering that is available as an online course five modules you can enroll anytime at tokenengineering.net at the moment we have more than 2 600 students enrolled and module one is an introduction to token engineering providing five papers and articles about this discipline to give you a broad overview

module 2 is a discovery it's about requirements engineering meaning defining A System's purpose the system skills the requirements the stakeholders and their motivations to detect potential rewards the business modeling side of token systems then value flows between these stakeholders and then we get into the mechanism design on a conceptual level with causalities cost loops the third module is called the design phase where we translate the requirements from the discovery phase

that are still human language or system Maps to mathematical specifications to algorithms we Define the action space of the agents the system States and the system variables and we Define performance indicators the fourth step and the fourth module is the deployment phase and deployment in token engineering is actually building a computer model of your system to be able to run simulations and test the system so we translate the mathematical specification into a computer model create a digital twin so to say this is

usually in Python run simulations and experiments to iterate on the design and the final module is covering governance governance meaning big topic decentralization douse algorithms as policies so encoded or rules in the system that are enforced by code computer aided governance the idea of a governance surface and how to optimize a governance surface polycentric governance voting systems these are the topics in module five so this overall is the te fundamentals

program and again this is available as an online course and you can earn an nft as a as a proof of knowledge based on these courses and as I said we've launched this in October 22 so far we have more than 2 600 students enrolled and this is a typical mix of fields of studies backgrounds of our students economics computer science engineering various engineering Fields data science mathematics and this is actually the mix we were hoping to attract because it's super relevant that we have talents from these fields in the crypto sector to cover the economic side

of our crypto Networks and also good to see that roughly a third stating I plan to take our token engineering role as my main occupation so these talents are willing and interested to apply their skills and bring their knowledge to the crypto sector all right our partner so we have been collaborating since 2020 with a range of large crypto projects and protocols we are very happy about the support we get there and this year our main supporters and partners are optimism t e Commons

and ensdal thank you also to those Partners who can make events like this happen and also our educational program and generally our mission as I mentioned the first educational program in this sector networking events like this sharing knowledge at the bar camp on Saturday uh but this is not only um our total mission is to develop this new engineering discipline as I said it's a new crypto native discipline with a body of knowledge with open science programs inviting the best researchers in crypto and Academia to learn from educate aspiring token engineers and grow the number of token engineers in

crypto which is a matter of challenges on both sides so projects are struggling with finding good token engineers and we'll talk about this later today how to establish a token engineering team how to make this a practice in crypto projects and also the other side the projects on one hand need support however it's still in its infancy how to integrate this in a project roadmap how to merge this with pushing um you know making next steps in your smart contract development and have take the Right Moves In Your token

design at the right time and this will be also a big Topic in the talks throughout the day and last but not least for us of course it's also a great chance to create an experiment with new web free value flows for Education and Research for example based on the nfts you can earn at the Academy here are some examples of study groups so value contributions at the Academy are you're sharing your Learning Journey as a study group host so basically anyone can apply to become a study group host in total we have onboarded more than 40 in and they run study groups in

14 languages in Spanish in Italian in Arabic in Chinese and more and uh what's cool I I talked about this cross-disciplinary nature of the field what's cool is that we that study group hosts can Define their own particular Focus sector or design the learning program based on their own skills so we have visual Learners we have people coming from math we have Engineers we have web 2 product managers and of course they bring their own tools and background and experience and and share their knowledge how this can be applied

resulting in Frameworks resulting in experiments with system maps and shared sessions like this one we had discussing amm algorithms and variants so this is pretty cool and this event actually then is a result of this as well with the support of the French Community we were able to make the same happen in Paris at FCC okay I talked about um nft certificates so we have proof of knowledge for the T fundamentals course and we have proofs for special contributions in the field and basically

uh its account bound non-transferable tokens that are tied to a certain wallet and identity that you acquire based on an online exam for the fundamentals but also based on attending events like this one or based on contributions like the study group hosts and this is are also experiments in getting a community like this going and run it sustainably since for education and knowledge sharing intrinsic motivation is one of the most important aspects and this relates to credibility in the field reputation in the field

and this is represented by these nfts and here you can see the T fundamentals nfts and as I told you you can claim your own nft for attending this event and add it to your token engineering track record it lives on chain on optimism and we use it not only for the proof of knowledge so you can share a link to your tea Academy profile it's available generally on optimism we also use it for token engineering grants rounds that we run in collaboration with T comments

where the people who vote on projects to be funded in the token engineering sector have an additional weight if they own t Academy certificates okay yeah as I mentioned this is the bottle for our educational materials and the online course um so as mentioned the courses can be taken at any time and we are also sharing a Weekly Newsletter sharing new developments research papers insights projects results and Trends in the sector focusing on the token

economic side of it so just some examples can token Engineers predict token price this was a very recent one approaches why why predicting is it viable to predict prices and how could it be done how to integrate it into modeling and simulations how to deal with volatility Innovation through limitations how can limitations like blockchain throughput be used creatively in game design overcoming a romantic view of governance we had free governance some interesting papers and New Concepts in designing

voting powers in Dallas um how major projects are dealing with token model changes we'll see this also in in Trends talk right after this one how a token systems and the economic model changes over time and has to be developed over time to optimize the results and to grow the network and the network value and the token value legal regulation updates yeah a lot of news just over the last couple of weeks and new token flywheel Trends this also refers to how to steer the economic

value of a Network and Sharing different approaches and opinions about it so this is token engineering weekly reads again newsletter for everyone interested in token design tokenomics token engineering all right today's program token engineering from a maker perspective the agenda today is designed by okay what is the typical life cycle what is the typical journey of a crypto project and imagine any project at some point starts building then a big question is how to raise funds could a token launch be the way to raise funds pros and cons

then after you have launched a token or in in developing your token Network demand drivers so you design the supply side of course you are in control of how your token is minted and distributed but then why should anyone hold your token what makes your token valuable and how to develop this value over time how to reward the value add in your network and what is actually the value add in your network and how to grow it so these are the overarching topics and the first part will cover this art building fundraise token launch and this first talk in in this section

will be Trend with a token decentralization Journey under fraud rockpool and schematics and I asked Trend to come to this day because he can share basically a six years journey of building a protocol of Designing a token he'll walk us through the original design process in the early days of token engineering the design iterations and the evolution of the ocean protocol and its token we'll hear about frauds Rock pullers scammers and clone sites so the dark side of it and how to deal with it as a as a founder and and we'll hear

about the development of the ocean Dao where ocean decided to go 100 automated and removing all control no governance basically which is an interesting decision so I'll be excited to hear more about that then we'll have as the next talk a panel about the top 10 challenges for a token launch and here we'll have Marina on stage from the European crypto initiative coming from the legal sharing the legal perspective then outlier Venture steamy will be here Robert from 1kx and we'll discuss the motivations for a token

launch fundraising growing your network be aware what your goals are we'll talk about different token distribution mechanisms and the pros and cons in launch pads decentralized exchanges centralized exchange listings market makers liquidity mining programs Etc and emission schedules which is basically a long-term decision on your token distribution then we'll also discuss regulatory challenges Hot Topic Marina will give us an overview not only on the SEC decisions also on Mika which is the European approach which is

slightly different and what should project Founders key in mind when it comes to regulation and challenges here then having a good plan know your stakeholders and plan a token launch and the steps after and even though it's a bear Market at the moment it's important to be prepared and be able to move once the market is picking up traction again and last but not least yeah how to build up excitement and how to continue to deliver after launch and I'm happy that Marina dimi and Robert

will share their perspectives coming from VCS accelerators and legal advisors talking with many crypto startups and yeah looking forward to this panel and then Roderick will share what's your talk about what's your talk worth and pitfalls to avoid in your token sales and listings and um it's generally the financial dimensions of token launch matter a lot to all projects we know that you should know the stakeholders in a token sales and listing process what's their intentions and how they might not always be aligned with yours and how you can develop a

credible investor offer and this is the topic today and roderick's talk and he'll also run a workshop where we build up a token sales offering life together at the bar Camp so mark your calendar for July 22nd as well so this was the token sales section the early stage um for token Engineers of course the really exciting part is how to design incentives how to design mechanisms to drive demand and to reward value ads and I mean the design space is so huge and we invited guests

like Mark the Project Lead for carbon the new Banker amm so Mark is leading the or boss leading is leading the development of carbon he will walk us through the design process there design the initial design goals for carbon the requirements the design iterations and their achievements so far and also the collaboration between theorists researchers smart contract developers and also the banker Dow which is something you have to handle in a project and it yeah will be exciting to hear how this worked out and how he let this design process at

a carbon Banker then Gabi will join us from Gauntlet and he is leading the applied research team at Gauntlet this is a new division providing quantitative incentive optimization at Gauntlet and they just recently published the first results their their mission is or their main project is to help uniswap build out a long-term growth strategies and optimize their token incentives and they issued a new targeted liquidity mining program based on their first hypothesis on how to optimize it and yeah excited to see how they developed

the the Frameworks and the metrics for this optimization strategy and yeah not only how this applies to uniswap also how to how this applies to basically any crypto protocol data driven token design and optimization is a big topic for projects and also for accelerators like outlier Ventures and you guys have designed a whole Suite of tools and Aryan will share more about um token design data analytics data-driven modeling for token systems how to design and quantify my token economy how they approach it and support

their startups and their latest experiments in the founder-centric and AI token economies co-pilot Trend then will be on stage again because there's one topic throughout this section where it's about okay how to optimize and how to verify token designs this is relevant to make the most of incentives distributed in the uniswab ecosystem to grow the network one example and another one is to mitigate risks and to manage the risk of token systems and Trent will share more about different approaches so

number one digital verification unit tests audits formal verification but also analog verification where he draws from his experience in semiconductor design and we'll hear more about complementary approaches apart from digital verification and verification flows and tools um so this will be the talk second talk of trend today and finally oh Jan will talk about optimizing talk based token-based systems with risk data science uh Jan has a background in data science and data analytics he's working

at maker Dao and block analytica and he'll give an overview of the maturing space of First Data science practices there have been several talks at UCC already on how to approach risk in D5 and here draw the lines between D5 cases on more generally token-based systems gives an overview on the computational approaches and how it can optimize the decision making and Rohan meta Frontier Academy will then close the section with AI power token engineering this is the proof of concept we have been working on over the

last couple of months to show how llm agents can provide a natural language interfacer for to iterate on the design to conduct experiments and runs in relations and manage these simulations based on agents that use custom tools and have access to python models and the main challenge or the interesting question for us was how to get from fuzzy human language inputs to a plan and solve prompting that triggers then a reproducible controllable agent execution simulation execution and we'll close the day with the section

grow and this is establishing token engineering at your startup so throughout the day we'll hear a lot about methods tools approaches then a big question for many crypto projects is how to how to make this happen in my project how can I establish a token engineering practice in my startup Lucas from tokenomia Pro this is a service firm and crypto melon from crypto econ lab protocol Labs will share how what the typical projects look like they are working on what the challenges are what you should

be aware of and how to step by step grow a token engineering team and also build up a token engineering roadmap and Chris Peru one of the course authors of tea fundamentals and token engineer founder of token engineering labs will close the day with Pathways to becoming a token engineer so we've collected questions in our community as I mentioned 30 plan to become a token engineer themselves how to become a token engineer how to build your career what to be aware of do's and don'ts good projects and bad projects you should avoid this will be the final talk for

today and again more token engineering will take place on July 22nd on Saturday we'll be at sub on Ford and University in the center of Paris have a full day and with interactive workshops and more talks and meeting and networking for our community so make sure to be be there good oh Final Call funding token engineering public goods so in case you have an interesting project you are working on a tool you are working on something relevant in the token engineering sector

you can apply to the next token engineering grants round token engineering Commons is our community that funds public goods in the token engineering sector they've already distributed almost half a million in Grants and they've ran the first token engineering grants rounds on git coin in April and the next one will be in August again with a 25k matching pool um number one you can apply for finding a number two holding nfts as I mentioned also gives you an additional weight in the voting

on projects and that's how we nurture the field and make sure we integrate the knowledge of this new crypto native field in the decision making for funding as well this is the link again to claim your nft and I think now we are ready to go with the next talk and thank you for now and enjoy the day [Applause] yeah we have to continue right away uh but we'll have q a Time