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TEGG 2019

TOKEN ENGINEERING

Global Gathering
@DappCon

Aug 23 | Berlin

Talks / Main Stage – H0104

10:00 – 10:10

Angela Kreitenweis
Token Engineering Global Community

Welcome to TEGG 2019

 

10:10 – 10:40

Shermin Voshmgir
Director Cryptoeconomic Research Lab, WU Vienna

Token Economics: Web3 Business Models & New Scientific Discipline

Blockchains & smart contracts have made it easy for anyone to create a token with just a few lines of code. They can represent anything from an asset to an access right, like gold, diamonds, a fraction of a Picasso painting or an entry ticket to a concert. Tokens could also be used to reward social media contributions, incentivize the reduction of CO2 emissions, or even ones attention for watching an ad.

While it has become cheap and easy to create a token, which is collectively managed by a public infrastructure like a blockchain, the understanding of how to apply these tokens is still vague. The classification of tokens into utility tokens, security tokens, etc. from a regulatory perspective is not helpful when designing new token-based ecosystems and business models, because they do not provide functional analysis of tokens which is necessary for modelling of token flows.

This talk will give a sneak peak into her new book “Token Economy” and focus on the classification & taxonomy of the different properties of a token, from a functional perspective. It will then deep-dive into the topic of “purpose-driven tokens”, and outline the activities of “Token Economics & Token Engineering” research at the Institute for Cryptoeconomics, and the Vienna University of Economics.

 

10:40 – 11:10

Jamie Burke, Outlier Ventures | Erick Zhang, Binance
Richard Muirhead, Fabric Ventures | Moderator: Jonathan Gabler, BlockScience

Panel: What's the Future of Fundraising for Token Ecosystems?

Initial Coin Offerings have been incredibly successful in 2017 and 2018. Since then, we have witnessed an evolution and maturation of fundraising approaches for token ecosystems.

This panel discusses current trends, opportunities and challenges investors and startups face when structuring the capital formation for decentralized ecosystems.

 

11:10 – 11:30

Cassidy Daly
Token Design & Cryptoeconomic Research at Centrifuge

Why Should We Care about Token Distribution?

What does a token generation event hope to accomplish? Lately, the primary objective for most new projects has been to raise funding. However, a crucial element of a generation event is the token distribution – and it gets too often overlooked. Why is token distribution important, and why should we care when building new token-based systems?
To answer this, we will examine the historical effects of wealth distribution to understand its impact on the growth of economies over time. The primary objective of a token generation event should be to get the token into the hands of users who will benefit from and add value to the token economy. Though many different token distribution mechanisms have been developed and utilized over the past few years, their effectiveness varies greatly – and many fall short of their goals.

When a token captures the economic value of the network, and especially when it represents the governance rights of its holders, an effective token distribution is critical to the growth and long-term health of token-based systems.

 

11:30 – 11:50

Dr Nina-Luisa Siedler
Attorney at Law / DWF Germany Rechtsanwaltsgesellschaft mbH

Structured Approach to Governance: The Wharton Cryptogovernance Disclosure Questionnaire

The importance of governance of blockchain/DLT networks is widely recognised. However, a truly holistic and structured approach to governance (on-chain and off-chain) is not available yet and many projects lack guidance as to the entirety of aspects which need to be taken into account.

This talk aims to highlight current efforts of a roundtable recently invited by The Wharton School – University of Pennsylvania to create more transparency with regard to governance structures by developing a disclosure questionnaire.

 

11:50 – 12:10

Paul Kohlhaas
Founder & CEO Molecule Protocol

Token Engineering Applied: Funding Designs & Legal Implications of Bonding Curves in Pharma & Biotech

How can we fund new innovation and collaboration models and re-incentivize open source innovation in science, pharma, biotech and beyond? We desperately need new inclusive business models in science and R&D. Patents are antiquated, monopolistic and hinder innovation. De-monopolising innovation ownership via nifty token engineering designs holds a promising solution.

In this session, we explore how we can employ novel token engineering and funding designs to incentivize and fund open source innovation. Using Molecule as an example, we examine specific design approaches in bonding curves, how they can be employed to create new R&D business models via taxation structure and explore case specific legal challenges & implications that result from these token designs.

What are the real-world challenges of applying token engineering to an industry, what are minimum viable solutions to experiment with today and what recommendations can we draw from this.

 

12:10 – 12:30

Caleb Sheridan
Co-founder at Blocklytics

FOAM Map Case Study - Combating Irrational Behavior

The FOAM Map is one of the most widely used token curated registries and offers a rich case study for cryptoeconomic networks. So far, over 10,000 points have been added to the map. Every new point includes a stake that attests to the quality of information provided by users. Anyone can challenge a point they feel does not belong on the map by staking tokens themselves. Successful challengers are rewarded and unsuccessful challengers are punished. The results of challenges are determined by the votes of FOAM token holders.

The FOAM protocol’s cryptoeconomic incentives work well to verify information, assuming token holders cast votes in good faith. Rationally, this behavior should make the FOAM Map more valuable and therefore FOAM tokens more valuable. But what happens if voters act irrationally? In this study we review a series of contentious challenges in which high quality points were challenged and removed, deteriorating the map. The community ultimately defeated the contentious challenger by carrying out extensive investigatory work using on-chain analysis and on-the-ground verification. This work helped identify the need for user-friendly tools to help close information gaps between network participants.

This case study explores stories from the FOAM Map, shows how the FOAM community combatted irrational behavior and touches on using data to improve the network and help network participants.

 

Lunch / Networking Area

12:30 – 13:30

Lunch Break

Talks / Main Stage – H0104

13:30 – 13:50

Dr Dimitri De Jonghe
Co-Founder, Head of Product/Research at Ocean Protocol

Engineering Notes on Launching the Ocean Network + Token

Token engineering is a novel discipline that brings engineering practice to the crypto-assets space. In token engineering, we are building complex dynamical systems where tokens carry information about work, utility, stake, signal, opinion among others.
It’s a multidisciplinary field where economics, social behavior, mechanism design and game theory converge.

Building new paradigms about social and economical interaction is very exciting.
Maybe one day we can create new feedback loops where humans become more conscious about the global impact of their behavior and consumption.

During token engineering global gathering I will be talking on the token process we employed within Ocean Protocol. There are many aspects such as design iterations on the utility, rolling out a network with a live token, migrations launching a token on an exchange with an IEO, managing a broad community…

 

13:50 – 14:10

Dr Ben Livshits
Chief Scientist at Brave Software

Towards Better Modelling for Token Economics

In this talk we will discuss the current “state-of-the-art” when it comes to tokenomics of both new and existing blockchain projects. While some of the stronger crypto projects are offering increasingly attractive platforms and decentralized frameworks, when it comes to token economics, the level of attention and critical scrutiny is generally not nearly as high.
This is a mistake, given the many pitfalls that token creation may result in. Indeed, the stakes are high, as evidenced by hundreds of now-defunct projects on https://deadcoins.com and similar sites.

This talk is a call for a faster maturation of this space. Specifically, the community could benefit from a library of reusable design patterns when it comes to token economics. We also call for an approach that strongly encourages projects to simulate their assumptions and highlight some of the existing and upcoming tooling in this space.

 

14:10 – 14:40

Dr Michael Zargham
Founder & CEO at BlockScience

Token Engineering in Practice

This talk will focus on the role of engineering design in creating tokenized social and economic systems.
For context, the talk will make a distinction between the domain (social and economic systems), the technologies (data, AI and Blockchain), and the methods and tools (engineering) used to design solutions. Solutions make use of technologies, but must necessarily meet requirements that are determined by the domain.

After briefly reviewing BlockScience design process, there will be examples of design work from various stages onf the engineering process as applied to Continuous Organizations, which is ongoing work supporting Fairmint.co.

 

14:40 – 15:00

Dr Wassim Alsindi
MIT Media Lab’s Digital Currency Initiative, Research Director at Parallel Industries

TokenSpace: A Visual Approach to Characterising Cryptoassets

TokenSpace is a new classification framework for cryptoasset attributes. There is an urgent need for compliance focused tools to help regulators, token engineers and exchanges make prudent design, jurisdictional and operational decisions in order to minimise future legal complications. TokenSpace allows visual comparison of cryptoasset properties in new ways that could help optimise token design. An overview of the concept and examples of practical uses will be presented and discussed.

TokenSpace is based upon the construction of hybrid categorical/quantitative taxonomies which are used to determine assets’ location in an idealised n-dimensional graph. This allows visual comparison of cryptoasset properties in new ways that can clarify implications of design choices and make optimisations. An overview of the concept and examples of practical uses will be presented and discussed.

A brief introduction to TokenSpace: https://hackernoon.com/a-brief-primer-on-navigating-tokenspace-2290a90b5a65

 

Break

Workshops / “ROPSTEN”, next to catering area 1st floor

15:00 – 17:00

cadCAD Introduction Workshop

The cadCAD modeling framework is a fast-growing new standard for designing, testing, validating and maintaining complex systems through simulation.
This workshop provides the opportunity to experience the tool using a simple, intuitive toy model, and to participate in a Q&A with cadCAD creator Dr Michael Zargham.

Participants will be using their personal laptops to log into a JupiterHUB server (hosted by Giveth, thank you!) and use the cadCAD framework to represent, implement and simulate a tokenized system.

The workshop will start with an introduction to cadCAD and an overview of a current use case, and will be guided through intermittent discussions during the coding part.

Successful participants will be invited to join the cadCAD closed beta program if interested.

Who should participate: Team Leaders, Systems Thinkers, Mechanism Designers
Bring to the workshop: Basic Python coding skills and your laptop

 

17:00 – 18:00

Dr Nina-Luisa SiedlerAxel von Goldbeck,
DWF Germany Rechtsanwaltsgesellschaft mbH

Tokens & Regulation: AMA session with DWF

We invite Blockchain entrepreneurs to this Ask-Me-Anything session where participants may raise their legal questions with regard to legal and regulatory topics in connection with structuring of Blockchain ventures.

This session does not constitute any offering to create an agreement for individual legal advice but aims at sharing general experience on an adhoc basis.

 

Talks / Main Stage – H0104

15:20 – 15:50

Krzysztof Paruch
Token Engineer and Cryptoeconomist at the Research Lab for Cryptoeconomics, WU Vienna

Token Engineering - a New Scientific Discipline

Decentralised tokenised systems emerge since the advent of the blockchain technology and the increased trust in the potential of decentralised applications thereof. Many envisaged systems are meant to be steered by cryptographic tokens which are used to incentivise specific behaviour of agents and to align the interest of individuals to the purpose of the system.
Out of this development, the necessity of scientifically explored design and development principles becomes apparent. Using tools and methods provided by various scientific disciplines will help with investigating and explaining the dynamics of the systems as well as their economic consequences for participants and the environment.

Token Engineering is this new scientific discipline which equippes us with the methodology to design, model and simulate decentralised ecosystems and their mechanisms. This helps to capture and control the potential involvement of the system over time, since gained insights will feed back into the design process. Token Engineering uses tools from mathematics, physics, biology, computer science and engineering and applies them within the domain of economics.

In this talk Kris Paruch from the Research Lab for Cryptoeconomics in Vienna will

  • provide a structured approach to the definition of Token Engineering as a scientific field
  • introduce a taxonomy of the Token Engineering process
  • map various disciplines and their subdisciplines to the process
  • show which tools and methods can be applied to Token Engineering
  • explain the focus and the research roadmap of the research lab.

 

15:50 – 16:10

Dr Jamsheed Shorish
Founder and CEO at Shorish Research

Aligning Interests: Reward Mechanisms and the Engineering of Token Incentives

Getting many different entities – such as people, institutions, or organizations – to share and support commonly-aligned incentives is an age-old design challenge that permeates the disciplines of economics, sociology and psychology. More recently, incentive design has benefited from the advent of computerization and the computer-aided design of incentive mechanisms, greatly expanding the domain of application of game theory, mechanism design and contract theory.

This talk will introduce token engineering from an incentive mechanism perspective, focusing upon purpose-driven (or “utility”) tokens and how different reward mechanisms may be compared and assessed. In addition, new results on token mechanism engineering using optimal control will be presented, and connected to exciting current and future application areas such as multi-agent systems.

 

16:10 – 16:30

Shruti Appiah
Research Lead, ConsenSys & Santa Fe Institute

The Mystery of Artificially Intelligent Economies

Cryptoeconomic systems allow for contracts that are frictionless, publicly visible, and unstoppable agreements, via smart contracts. This allows for games or agreements to be ‘warped’ by a third party, such that the third party extorts value from the game between any two players.

Previously never studied in traditional economics, these properties create a new mystery and incalculability. In blockchains with Turing-complete economic systems, games can be played on top of games, and the system becomes a multi-level computational challenge.
Given any economic model with predefined rules, autonomous AI agents are able to develop unforeseeable strategies to extort value from other players, greatly expanding the scope of actions. Over time, AI agents interacting on the blockchain transform the underlying dynamics of the entire economic system by shifting game-theoretic equilibria in increasingly smarter ways to maximize their own benefit.
The system eventually becomes inconceivable to humans. ‘Game warping’ gives a new meaning to money.

In this talk, Shruti will introduce the concept of artificial cryptoeconomies, followed by a synthesis of the latest advances in reinforcement learning that can be employed to understand them.
We’ll explore

  • How an AI agent can extort value from two players in a Prisoner’s Dilemma
  • How to study artificial cryptoeconomies using intelligent coevolving agents
  • Can a system designer predict and account for core transformations in their economic model?

 

16:30 – 16:50

Sebnem Rusitschka
Founder Freeelio, CTO EnergiMine

The TAO of Token Economies

As a technical founder (and cyberphysical systems senior key expert in my former corporate life), many nights I wept over business model adhocery and excel files of financial models that blow up in your face as soon as someone uses copy/paste – not to mention the untested assumptions, added as a footnote in some tab that no one remembers.

But token economies are digital economies, and as such have the following characteristics we can take advantage of:
they run on data (our models can learn from data)
they are programmable (hence design patterns and best practices apply)
and in case of cyberphysical systems: our mechanism design is embeddable into the actual infrastructure: energy, transport, manufacturing,…

In this talk, I walk you through design and engineering of the token economy of a cyberphysical energy system using:

  1. ecosystem design thinking to identify model parameters
  2. model and simulation of the system using cadCAD embedded mechanism design into the microgrid itself and live data from the real system in use
  3. model updates & data-driven optimizations to improve the token economy continuously
  4. (advanced:) continuous deployment of formalized and verified code, taking into account the cost of computing,

In short: if you know your data, and you know how to code effectively, business model generation just became your home turf.
Have fun, format c: and reprogram the world.

 

16:50 – 17:00

Wayne van Niekerk, Protea.io
Angela Kreitenweis, Token Engineering Global Community

Tokenize the Community - Protea Gather & Token Engineering

How can we holistically solve our modern tragedy of the commons? How can we best incentivise individuals to engage in their communities in such a way that the community as a whole can flourish? In today’s world, showing true, long-lasting commitment around a shared vision or purpose is falling short for many communities around the world causing the loss of potential, collective resources & social capital. By using skin-in-game token economics and novel DeFi mechanisms, Protea Gather is paving the way for sustainable and continuous wealth creation for the commons all the while creating an incentive to remain engaged with one’s community for the long haul.

At the forefront of this very movement is Token Engineering (TE) Global – a worldwide community of 17 groups with almost 3000 members, who are openly evolving to tokenize their groups and the common issues mentioned above. The collective TE Global community is moving towards a self-sustaining economy of incredible minds and cryptoeconomic wizards. In this talk Angela of TE Global Community and Wayne of Protea.io will explain the brief history of how TE Global and Protea Gather’s paths aligned and how you can join the tokenized community today!

 

 

17:00 – 17:30

Jarrad Hope, Co-Founder and CEO at Status | Jason Teutsch, Founder at Truebit
Marvin Kruse, Co-Founder and CTO at dicraft.io

Lightning Talks: Projects and Initiatives to Watch

#1 Status | Jarrad Hope
Using Traditional Financial Models to Evaluate Utility Tokens

Status is building the tools and infrastructure for private and secure communication. This includes the Status mobile and desktop clients, p2p communication protocols for messaging and file storage, and lightweight Eth2.0 clients. Each of these present token utility either at the application layer or incentivization layer.
With all of the defined and potential use cases for the Status Network Token (SNT), the team has kicked off a research initiative to evaluate the various token models within the Status Network to better understand their impact on the network as a whole. The team has found much of the existing research in finance and economics to be at least directionally correct in creating frameworks for determining how different features will impact total market size. That said, there is a lot of room for understanding how wealth distributions in networks impact the market.
In this talk, Jarrad will discuss the various token models present in the Status Network and how the team has applied to traditional means of financial evaluation to the decentralized systems within Status. He will illustrate this through the example of the Status Sticker Market – exploring the equation of exchange and how it can be applied to a decentralized network.

 

#2 Truebit | Jason Teutsch

We outline a token model for Truebit, a retrofitting, blockchain enhancement which enables secure, community-based computation. The model addresses the challenge of stable task pricing, as raised in the Truebit whitepaper, without appealing to external oracles, exchanges, or hierarchical nodes. The system’s sustainable economics and fair market pricing derive from a mintable token format which leverages existing tokens for liquidity. Finally, we introduce a governance layer whose lifecycles culminates with permanent dissolution into utility tokens, thereby tending the network towards autonomous decentralization.

 

#2 ditcraft.io | Marvin Kruse
DAO-driven Software Development

If gas powers Ethereum, code fuels decentralization. In fact code is the atomic ingredient of any DAO. But with the governance layer of most open source projects being dependent on the benevolence of the repositories’ owners, a project is not always able to follow the needs of its community.
With almost all open source projects leveraging the prominent git client to push code, this is where dit comes into play: it changes the developing experience and shifts the governance back into the hands of the community. Being a decentralized version of git with built-in incentives, dit allows a community to vote on code contributions before they are merged to the main branch. With a 2-dimensional token model dit rewards good proposers and validators, and thus incentivizes the community to actively engage in open source software development.

 

17:30 – 17:50

Jeff Emmett
Researcher Token Engineering at Commons Stack

Scaling the Commons to Re-prioritize People & the Planet

The Commons Stack is producing a component library of rigorously designed, cadCAD-simulated tools to scale effective commons management. From continuous funding through the Augmented Bonding Curve to dynamic decision making via Conviction Voting and secure, transparent fund escrow with the Giveth DApp, this collaborative effort aims to provide the infrastructure for communities to sustain and manage themselves at scale, defining their own contextualized forms of value.

Jeff Emmett will dive into the structure of the Commons Stack, explain what sets this project apart in its biomimetic, viable systems approach, and how it could be used to bring about effective human coordination at a global scale.

Jeff will introduce an exciting application of the Commons Stack components – the Token Engineering Commons (TEC) – and how you can be a part of this pioneering community of experts and advocates pushing for rigorous, iterative design processes in blockchain networks.
The TEC will fund the open sourcing of cadCAD as a critical industry simulation & modeling tool, and will introduce higher level incentives to align independent researchers towards establishing common practices in this new engineering discipline.

The ultimate goal of the TEC is to provide continuous funding for token engineering R&D, to the benefit of the whole blockchain ecosystem.

 

17:50 – 18:00

Angela Kreitenweis
Token Engineering Global Community

Thank you & Closing Remarks

End of Program

19:00 – 23:00

#Chill #Networking #Drinks - BerlinBlockchainWeek Wrap-Up

After TEGG we’d like to invite you to join us for a casual drink or two, so that we can celebrate the last few days in fine fashion and reflect on all the blockchain (and non-blockchain) things that we’ve learned throughout the whole experience of this crazy, inspiring week.

So much has happened, it would be a shame to not share our personal experiences with such an awesome community of cryptoeconomists and BUIDL enthusiasts. Not only will we network with each other but we’ll get a glimpse of what the Token Engineering Global community will be evolving into:
******The first Tokenized Community right here in Berlin!******
https://www.protea.io/tegg

In collaboration with Protea Gather we’ll be able to make this happen and can walk you through how it works and how you can take part – in order to remain more connected on a decentralized level.

So lets *Gather*, network and chill just before we all hop on a plane and disperse across the world again.

Come join us! See you there!

 

Agenda may be subject of change.