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Author: Stefania Marcassa

Publication Tokens and Icos a Review of the Economic Literature | Blockchain@X
Publications

Tokens and Icos : a Review of the Economic Literature

Tokens and ICOs: A review of the Economic Literature, with Andrea Canidio, Vincent Danos and Stefania Marcassa, This article is a part of Principles of Blockchain Systems, Synthesis Lectures on Computer Science, 2021, Vol. 9, No. 2 About the book This book is the first to present the state of…

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2021-10-01
Publication Fundamental Pricing Utility Token | Blockchain@X
Publications

Fundamental Pricing of Utility Tokens

We propose a framework for the fundamental valuation of utility tokens. Our model endogenizes the velocity of circulation of tokens and yields a pricing formula that is fully microfounded. According to our model, tokens are valuable because they have to be immediately accessible when the services are needed, a requirement…

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2021-02-01