On the Effectiveness of Multi-Token Economies

Even though a token economy is the core part of a blockchain-based project, it is still in the early stage of academic exploration. Moreover, recent projects adopt multi-token economies to encourage the participants to stay longer in their economic systems, which are more complicated than single token economies. This paper addresses the token classification, the reason for adopting multi-token economies and the effectiveness of them. We analyze the Steemit as a representative example of multi-token economies. We describe how the multi-token economy has been working and show the distinctive features of multi-token economies. We also propose the evaluation criteria for multi-token economies.