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Nico
@nicom
How can we have a useful /flying token? I have an idea for something fun, more on this very very soon. ❤️ if you're interested
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Nico
@nicom
Ok, so first important thing, a token but only if it provides something that can't be done without a token
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Nico
@nicom
What can an erc20 token do that nothing else can? - can be traded anywhere anytime - no one can prevent you from using it - doesn't expire or disappear with time - can be self custodied - can be transferred easily almost for free - has a track record - can be used in automation - easy to check you're a holder - only requirement is internet connection and a device with a crypto wallet What else?
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Nico
@nicom
Now what can we do with that about flying? Flying can be about: - discovering flight and piloting - learning how to pilot - flying for fun - flying for sport - flying for travel - ... What would a token do in this? Pay for the hour? You can do that without a token. Prove partial ownership of a plane? Perhaps NFTs would be better for that, a token is fungible. Reward users, like miles? Maybe but it means pilots or plane owners would have to have a large supply of the token to distribute. With Clanker, clanker owns the pool and users have to buy. So a non bot generated token? I'm thinking out loud in this thread, your comments are welcome.
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Nico
@nicom
A utility token is gating wealth in a specific use case. That's artificial use restrictions. You can do exactly the same with a generic token/coin sai ETH. So the only reason a specific token could exist is rewards (or yield or whatever we call it). How a /flying token could provide reward? There's no need for staking. So we would have to make it be some kind of future. Did you know flying is more and more expensive every year?
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Nico
@nicom
If a flying organisation, say a club, could benefit from the sale of tokens, then people who have the token have a locked price on flights, the club would have treasury to improve right now while users would be able to keep their token to fly later without having to pay more even if costs grow. Clubs would also be compensated by the token swap reward and could even put the rewards at work if not used instantly.
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