Unit 1 · Level 4 · Token design
Unit review: token design
You can now read a token's DNA: the supply schedule (fixed, inflationary, or burning), FDV versus market cap (the iceberg), emissions (who gets paid to be there), and unlock cliffs (when the iceberg surfaces). Let's stress-test it.
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What you get asked
Which situation screams 'unlock risk ahead'?
Small float + huge FDV + a dated cliff is the full iceberg setup: thin supply today, guaranteed flood tomorrow.
Match the term to its definition
Four terms, one skill: knowing how much supply exists now and how much is on its way.
Ethereum destroying a slice of every transaction fee is an example of a ___.
Since 2021, ETH burns part of each fee. On busy network days, more ETH can be destroyed than issued.
A new token gives 20% to the team and 20% to VCs, vesting over just one year. What's the sharpest concern?
Short vesting on a big insider slice makes the dilution this year's problem, not some distant threat.
What's the single most honest way to read any tokenomics page?
Supply schedules, FDV, emissions, and cliffs all collapse into one question: who can sell, how much, when. Master that and you've mastered this unit. 🐜
The rest of this unit
Supply schedules, emissions, and the fine print that decides who gets paid.