economists

Analyzing Token Sale Models

Note: I mention the names of various projects below only to compare and contrast their token sale mechanisms; this should NOT be taken as an endorsement or criticism of any specific project as a whole. It's entirely possible for any given project to be total trash as a whole and yet still have an awesome token sale model. The last few months have seen an increasing amount of innovation in token sale models. Two years ago, the space was simple: there were capped sales, which sold a fixed number of

Organized Chaos

This week saw another round of interest rates hikes by central banks to try and control inflation. With all the talk of a potential pivot in monetary policy, interest rates continued their parabolic rise by 75 basis points in the UK, and the US. Initially the Federal Reserve’s announcement of a 0.75% interest rate increase caused markets to jump because this was the rise they’d been expecting and had already priced in. However, in the subsequent press conference the tone was more hawkish which caused the markets to drop a

Interesting Times

A few months ago the markets were confident we were approaching the end of big interest rate hikes and that after the summer central banks such as the US Federal Reserve would begin to ease their monetary policy. However, due to persistently high inflation, especially core inflation, the markets have adjusted their view which goes some way to explaining the recent crypto market volatility. As cryptocurrency is touted as an inflation hedge and an alternative form of money, users are often confused or surprised to discover that over the short

Don’t Fight the Fed

By the time most people read this Jerome Powell, chair of the Board of Governors of the US Federal Reserve System will have given his yearly speech at Jackson Hole, Wyoming. The speech details his financial outlook for the US and dictates whether crypto, along with most other markets, will pump or dump. Each year the Federal Reserve Bank of Kansas City holds a symposium at Jackson Hole in Grand Teton National Park that attracts central bankers, economists, and policymakers from around the world. The 2022 symposium will open on