Value Transfer
The value of an asset originates from its involvement in transactions and settlements. Pegged assets and representation-based assets are out of scope.
Cashflow
An income stream received by token holders (either directly or indirectly) originating from the protocol's operation. Using tokens in third-party protocols for yield generation is out of scope.
Governance
It represents the value derived from token holders' unique ability to influence protocol governance. This value originates from managing the distribution of limited resources (typical examples: emissions, rewards, protocol parameters/upgrades, and treasury assets).
Access
Value originates from access to a unique protocol resource, which generates additional value for token holders. The amount of additional value gained depends on the actions of the token holders.
Representation
Asset value is extrinsically sourced and originates from representing other assets, which have intrinsic value. Examples: stablecoins, LP positions, wrapped assets.
Hedonic Value
Represents value that is gained as a result of a social contract (as a result of popularity or other context) and not captured by the regular economic models. Examples: digital art.
Transferability Restriction
It represents the requirement to deposit an asset into a specific contract that has a lock-up or cooldown period, which prevents the asset from being released instantly. It often acts as a requirement for activating token utility.
Conditional Action
It indicates that token holders must perform specific actions to activate their tokens' additional utility. Examples include: (1) casting a vote to gain governance value and (2) running a node to participate in network consensus.