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From YouTube: New Token Economics Paper: Out Now!
Description
Gregory Landua, Kyle Birchard, and Will Szal have been hard at work writing the Regen Network Economics Technical Paper. We are working on the final touches and will have it on the website within the next week. This economics paper gives an overview of the token economics of the Proof of Stake network securing the decentralized finance and ecological claims utilities of Regen Network.
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A
In
general,
the
I
think
you
could
sort
of
we
could
start
by.
Probably
on
this
call,
it's
probably
useful
to
start
from
kind
of
like
the
first
layer
of
innovation
in
the
blockchain
space
and
what
that
created
and
why
people
were
excited
about
it
and
that's
you
know,
Bitcoin.
Why?
Why
on
earth
are
people
excited
about
Bitcoin
and
answering
that
we
can
then
go
to
the
next
layer
of
like
what
are
we
thinking
about
and
why
are
people
excited
about
it?
A
So
people
are
excited
about
Bitcoin
because
it
enables,
through
the
sort
of
like
network
of
miners
that
are
all
running
these
computations.
It
allows
you
to
have
the
exact
same
ledger
of
transactions
distributed
around
the
world,
which
means
that
you
don't
have
to
have
any
central
authority
issuing
money.
Why
is
that
cool?
Well,
because
central
authorities
issuing
money
tend
to
also
do
other
things
like
levy
taxes
or
throw
you
in
jail
or
various
other
coercive
and
violent
actions,
which
you
know,
arguably
maybe
maintain
order
or
on
the
other
side,
maybe
create
oppression.
I.
A
Don't
think
we're
here
to
judge
that,
but
that's
why
people
are
excited
about
it.
Right
is
that
you
can
exchange
value
without
having
one
central
authority
that
is
like
coercively
controlling
the
whole
economy,
right
which
so
that's
why
people
are
excited.
Okay,
that's
sort
of
like
premise
number
one.
Just
you
know
in
terms
of
setting
the
space
now
along
comes
region
network.
Here
we
go
we're
interested
in
solving
problems,
the
world's
most
challenging
economic
and
ecological
issues,
which
are
things
like.
A
How
can
you
make
it
so
that
people
don't
deplete
their
soil
for
short-term
profit
or
over
fish,
a
fishery
for
short-term
gain
or
clear
cut
the
forest
for
short-term
profit?
All
of
these
are
questions
around
aligning
economic
incentives
with
long-term
health
of
the
system.
This
is
like
an
age-old
problem.
It's
you
know
talked
about
in
terms
of
the
tragedy
of
the
Commons,
but
really
it's
something
even
deeper
than
that,
and
it's
kind
of
like
a
social
coordination
intersecting
with
economic
challenge
like
how
do
you
coordinate
people
who
everyone
will
benefit
if
they
behave
differently?
A
How
do
you
coordinate
that
such
that
that
behavior
becomes
what
everybody's
doing
instead
of
some
actors
competing
to
extract
as
much
value
as
possible?
And
this
is
why
blockchain
is
awesome
right.
This
is
why
we're
not
just
launching
a
centralized
app
that,
on
its
own,
creates
scientific
clarity
or
connect
one
user
to
another,
because
it's
actually
a
social
problem.
It's
not
a
problem
that
can
just
get
solved
simply
like
with
a
single
technology.
So,
okay,
along
comes
in
this
sort
of
march
of
ideas.
A
A
You
can
also
embed
in
that
ledger,
other
forms
of
data,
and
you
can
also
create
automated
scripts
or
what
we
would
call
smart
contracts
so
that
these
elements
of
data
can
relate
to
one
another
and
create
agreements
between
parties
that
are
more
complex
than
just
like
I
gave,
will
my
token
and
every
in
it,
and
that
is
accounted
for.
So
why
is
that
exciting?
A
That's
exciting,
because
for
the
first
time
in
the
world,
we
could
create
a
sort
of
like
a
global
consensus
around
ecological
health,
and
we
can
create
a
set
of
an
ability
for
people
to
make
agreements
about
that
ecological
health,
and
we
can
link
it
to
the
most
ubiquitous
social
agreements
in
the
world,
which
is
around
the
financial
system.
Pretty
much
everybody
uses
some
form
of
money,
pretty
much
everybody
enters
into
contracts
using
some
form
of
money,
some
form
of
currency.
A
So
you
sort
of
start
to
see
that
our
aim
here
is
really
to
create
a
decentralized
infrastructure
that
allows
us
to
have
economic
and
financial
agreements
that
are
based
in
consensus
about
ecological
state.
Ok,
so
that's
my
like
sort
of
like
framing
marching
up
the
order.
There's
a
lot
of
ideas:
they're
gonna,
take
a
pause
and
now
I'm
gonna
talk
about
some
of
the
well.
Maybe
I'll
take
a
pause
and
see
if
we'll
or
Kyle
have
any
upgrades
or
addendums
to
that.
B
B
But
in
order
for
all
that
other
stuff
to
happen,
all
the
other
real
economic
stuff
to
happen,
we
need
to
have
the
crypto
part
lock
down
and
secure
and
functioning
in
a
way
that
the
people
who
are
operating
validator
nodes
for
region
network
are
doing
what
they
should
be
doing
because
I
all
kind
of
like
comes
back
to
that
one
sort
of
source
of
truth
or
whatever.
You
want
to
call
it
so
that
I'll
stop
at
that.
That's.
A
A
great
segue
Kyle
thank
you,
so
so
what
the
hell
does
that
mean?
What
is
a
validator
node?
And
why
is
it
important
that
that
they
like?
What
is
their
role
in
the
network?
Why
are
they
important
for
generating
the
ecological
ledger
claim
an
agreement
framework
that
region
network
is
creating
in
the
world?
Ok,
so
I
left
off
my
part
of
the
story
with
the
emergence
of
proof
of
stake.
A
What
is
proof
of
state
proof
of
stake
is
a
way
of
generating
network
consensus
without
having
to
run
these
massively
sort
of
energy
intensive
computations
in
order
to
sort
of
like
race,
computers
against
each
other
to
maintain
a
Byzantine
fault-tolerant
network,
which
means
that
you
know
which
I'm
not
going
to
get
into
what
that
means.
If
you
have
questions
about
that,
we'll
do
it
later.
Proof
of
stake
enables
us
to
essentially
create
a
censorship
resistant
network
which
means
that
the
the
truth
is
distributed
amongst
the
data.
A
Let's
just
say,
the
data
is
distributed
among
so
many
different
computers
that
it
would
be
almost
impossible
or
impossible.
Depending
on
how
many
computers
there
are
to
act
like
crash
the
network,
because
you
would
have
to
you
know,
crash
computers
all
over
the
world
all
at
the
same
time,
and
if
you
don't
succeed
that,
then
they
just
replicate
and
pop
back
up
again
right.
Why
is
it
important
for
the?
Why
is
this
important
for
our
use
case?
Censorship,
resistance?
A
Why
is
censorship
resistance,
something
that
we're
spending
so
much
time
and
effort
to
place
at
the
center
of
region?
Network?
Well,
okay!
So
if
you're
thinking
about
coordinating
a
group
of
people
to
make
large
changes
to
how
they
interact
with
one
another,
economically,
socially
and
environmentally,
you
need
to
have
some
sort
of
like
common
ground
where
everybody
comes
to,
and
everybody
is
basically
like
on.
A
Even
has
an
even
playing
field
right
and
where
no
single
actor
could
manipulate
and
change
the
the
truth.
So
to
speak
right
because,
when
you're
talking
about
mass,
like
all
money
in
the
world
comes
from
ecosystem
health,
there's
zero
financial
wealth
in
the
world
that
doesn't
at
some
point
with
it
didn't
at
some
point,
starts
with
you
know:
natural
resources
like
oil
or
natural
resources
that
come
from
the
ocean
or
forests
or
just
think
about
the
oxygen,
and
you
know
photosynthesis
and
all
of
that
everything
the
entire
economy
relies
on
ecological
health.
A
So
you
have
oil
companies
saying
for
20
years
that
climate
change
wasn't
the
thing
while
they
knew
that
it
was
you
have
you
know
big
pharmaceuticals
and
big
agriculture,
saying
things
they
know
are
untrue
so
that
they
can
maintain
market
share
so
fundamentally,
at
the
base
layer,
the
the
glue
in
order
for
the
global
economy
to
realign
with
ecological
health.
We
have
to
have
censorship,
existent
flat
playing
field
where
everyone
can
access
when
they
need
it.
A
Information
about
ecological
States,
that's
like
premise
number
one
and
the
most
the
most
cost
effective
and
proven
approach
to
creating
something
like
that
is
a
proof
of
stake
network
like
what
we've
proposed
to
the
world
and
what
Aaron
and
the
rest
of
team
have
been
working
really
hard
to
create
with
region
ledger
so
underpinning
that
network
is.
It
is
a
crypto,
a
set
of
crypto
economic.
A
You
know
scientific
considerations
and
they're
they're
sort
of
community
management
information
and
all
these
other
things
onto
the
ledger,
because
they
know
it
will
be
there
tomorrow
and
the
next
day
and
the
next
day,
even
if
someone
wants
it
to
not
be
there.
So
that's
sort
of
like
the
fundamental
economic
underpinning
in
this
paper
is
describing
the
the
token
economics
of
our
proof
of
steak
network
and
how
it
relates
to
the
value
that
we're
generating
for
the
world,
which
is
this
ledger
and
contracting
framework
about
ecological
state.
A
So
then,
this
paper
further
goes
in
to
talk
about
about
the
way
that
the
use
of
this
network
will
accrue
value
to
the
people
who
are
running
businesses
to
maintain
the
computer
nodes.
That
are,
you
know
the
validator
nodes,
which
is
what
they're
called
technically
that
are
running
all
around
the
world,
to
make
sure
that
there
is
always
uptime
and
that
there,
the
network
is
again
creating
the
public
good
of
this
ledger
of
ecological
health.
A
So
you
know
we
talked
about
the
you
know,
types
of
transactions
that
will
be
made,
the
types
of
collateralized
exchange,
the
types
of
agreements,
the
data
that's
going
to
be
flowing
through
and
how
that
all
adds
up
to
the
economic
case
for
validators
around
the
world
to
maintain
this
distributed
network,
which
is
you
know,
although
it's
not
highly
energy
intensive,
it
takes
a
lot
of
human
work
because
running
a
validator.
Node
is
a
highly
specialized
highly
skilled
at
this
moment,
and
that
may
change
skilled
though
it
takes
a
lot
of
effort.
A
You
know
to
make
that
work,
and
so
those
people
are
the
first
people
who
sort
of
like
have
a
clear
economic
incentive
baked
into
the
token
economics
now
I'd
like
to
add
that
you
know
before
I
sort
of
pause,
that
what
we've
created
can
be
considered
sort
of
the
substrate
or
base
layer
for
many
other
types
of
economic
arrangement
and
token
designs.
So
once
everybody
can
trust
that,
there's
like
this
100%
uptime
censorship
resistant,
spread
around
the
world
ledger
of
ecological
health.
A
That
people
can
then
write
true
and
create
agreements
about
those
agreements
can
also
be
tokenized.
So
that
means
you
can
create
all
these
other
financial
instruments
upon
this
solid
base
layer
so
that
people
could
create
community
could
create
tokens
that
are
related
to
the
health
of
the
rainforest
or
tokens
that
are
representing
agreements
about
watershed,
health
on
a
local
scale
or
water
rights
and
the
rights
to
access
water
or
all
of
these
other
things.
So
these
this
next
layer
functionality
can
be
tokenized
and
it
doesn't
have
to
be.
A
They
can
also
simply
be
automated
agreements
between
parties
that
that
operate,
or
they
can
also
simply
just
be
relying
on
the
transparent
public
ledger
like
we're
doing
the
rainforest
alliance,
to
create
this
sort
of
auditable
trail.
So
there's
this
whole
sort
of
like
nested
layer
of
value
that
that
is
only
possible
with
the
proof
of
State
global
censorship.
Resistant
ledger
of
ecological
health,
which
this
economics
paper
is
explaining.
How
our
token
design
helps
create.
So
I
would
encourage
everybody
to
just
take
a
moment
and
ask
ask
yourself:
you
know.
A
You
know
the
thing
we're
doing
is
building
a
big
community
about
around
this.
You
know-
and
you
know,
hopefully
aligning
a
lot
of
people
around
the
world
around
the
same
set
of
questions
and
I.
Think
that's
in
general
I
would
just
sort
of
conclude
with
region
tote
the
region
token.
The
proof
of
stake.
Token
basically
represents
the
collective
effort
and
value
being
dedicated
by
everyone
who
is
using
the
system
to
regenerate
ecosystem
health
and
to
make
that
regeneration,
measurable
and
the
center
of
agreements
between
people.
A
That's
what
it
represents
at
the
end
of
the
day
and
in
order
to
represent
that
well,
you
know,
there's,
obviously
there's
a
little
bit
of
complexity
and
flexibility
that
needs
to
be
built
into
the
system,
so
that
there's
a
good
market
mechanism
there.
But
that's
that's.
We've
done
our
best
to
create
at
least
the
first
version
of
that.
So
thanks
for
everybody
being
on
the
call
and
please
feel
free
to
drop
us
questions
or
comments.
As
we'll
said,
we're
going
to
be
publishing
this.