A quién sirve — Anyone analyzing altcoins and DeFi before buying: tokenomics explains how the token captures value (or not) — supply, emissions and unlocks matter as much as the chart.
Tokenomics describe the token's economic design: max supply, inflation/deflation (mint, burn), allocations (team, investors, community), vesting, utility (fees, governance, staking) and protocol incentives.
In plain terms — «Rules of the game» for the token: how many exist, how they are created, who receives them and why anyone should hold them.
Key components
| Element | Question |
|---|---|
| Supply | Fixed, inflationary, capped? |
| Emission | Schedule, halving, farming |
| Allocation | Team %, investors, treasury |
| Vesting / unlock | |
| Utility | Fee accrual, governance, gas |
| Value capture | Buyback, burn, real staking yield |
Token without value accrual → narrative only; protocol with high fees but unlinked token → price/fundamentals disconnect.
Critical reading
- Compare FDV (fully diluted valuation) vs circulating market cap
- Map unlocks next 12 months vs liquidity
- Mercenary incentives: yield farming inflates TVL temporarily
- Cross-check audits, treasury transparency, red flags
Error típico — Buying on hype without unlock calendar — predictable dump from team/investor vesting.
Ejemplo — 20% circulating supply, FDV 10× market cap, cliff unlock in 30 days → structural sell pressure despite «good news».
Card
- Check: supply, unlocks, utility, fee flow.
- Metrics: P/F protocol revenue, FDV/TVL.
- Read: crypto fair value.