The hottest Tokenomics Substack posts right now

And their main takeaways
Category
Top Crypto Topics

Step 1: Intro to Impact DAOs

Crypto Good • 0 implied HN points • 05 May 23
đź”® Crypto Tokenomics
  1. Impact DAOs are decentralized organizations focused on doing good for people and the planet.
  2. Core purpose is crucial and should drive all actions, not just be an afterthought.
  3. Advantages of Impact DAOs include global participation, borderless setup, and decentralized decision-making.

Navigating the Avalanche: An Introduction to the Avalanche Network

Coin Metrics' State of the Network • 0 implied HN points • 13 Feb 24
đź•ą Technology Tokenomics
  1. Avalanche is a blockchain network with unique architecture and features like subnets, making it versatile for a wide range of applications like DeFi and gaming.
  2. The AVAX token is central to Avalanche, used for transaction fees, network security through staking, and has shown notable success with market capitalization peaking at $30B.
  3. Avalanche's consensus mechanism, called Avalanche Consensus, is structured to handle high throughput with fast transaction speeds, enhanced scalability, and a permissionless approach different from traditional blockchains.

An Overview of the Flow Blockchain

Coin Metrics' State of the Network • 0 implied HN points • 15 Oct 24
đź”® Crypto Tokenomics
  1. Flow is a Layer-1 blockchain built for quick, consumer-friendly apps. It uses a unique system to help scale and manage tasks efficiently.
  2. The recent Crescendo upgrade allows Flow to work with Ethereum's smart contracts, letting developers use tools from both ecosystems.
  3. Flow is popular for digital collectibles like NBA Top Shot and has low transaction fees, making it great for fast and affordable transactions.

Inside dYdX: On-Chain Perpetual Futures

Coin Metrics' State of the Network • 0 implied HN points • 01 Jul 25
đź”® Crypto Tokenomics
  1. The DYDX token is important for the dYdX platform, allowing users to vote on decisions, earn rewards, and help secure the blockchain. This means that holding and using the token is beneficial for both the platform and its users.
  2. dYdX has added a lot of new markets for trading, with 267 options available. This gives traders access to a wide variety of assets, making it easier to find new opportunities in the market.
  3. Despite strong interest in BTC and ETH trading, liquidity on dYdX can fluctuate. This means there are times when it's harder to trade efficiently compared to traditional exchanges, highlighting different behaviors among traders.
Get a weekly roundup of the best Substack posts, by hacker news affinity:

Ronin Market is bringing trading card stores onchain!

Ronin’s Newsletter • 0 implied HN points • 19 Dec 25
đź”® Crypto Tokenomics
  1. Ronin Market partnered with Vietnam’s Mystic Crew to put physical trading-card inventory onchain via a Mystery Machine, so collectors can spin to win real Pokémon and One Piece cards and redeem them for shipment.
  2. Two new Counter-Strike 2 Fortune Spin machines are live: a 1 USDC 'CS Eco' with big but rarer top prizes and a 5 USDC 'CS Full Buy' with more frequent, modest rewards.
  3. Fortune Master Season 3 is live with Milestone Missions, a new Daily Check-In, and Instant Rebates to earn Fortune Coins; win odds have been boosted over 2x for the season and coin value is pegged to RON and USDC.

Fishing Frenzy Chapter 2 is LIVE!

Ronin’s Newsletter • 0 implied HN points • 27 Nov 25
đź”® Crypto Tokenomics
  1. The game now has xFISH (a spend-only, non-tradeable reward token) and on-chain $FISH, and players can stake tokens or convert xFISH to $FISH with fees that vary based on Karma.
  2. Chapter 2 adds new areas like the Cavern Permanent Zone (unlock at Fishing Level 80) plus Event and Permanent Zones, and introduces Fossils you collect to unlock new fish with set rarity chances and a Mythic pity at the 300th fossil.
  3. Karma is a central reputation score that boosts rewards, unlocks daily quests, leaderboards, and better conversion fees, and you earn it by playing, referrals, quests, staking tokens, or buying a Founder’s Pass—so claim and stake any $FISH airdrop to increase it.

Welcome to Origins Postseason 15!

The Lunacian • 0 implied HN points • 24 Dec 25
đź”® Crypto Tokenomics
  1. The Elite 4 finals are on December 28 and will be livestreamed at 7PM PH / 6AM EST, with the champion winning 1,200 AXS plus an Origin Axie.
  2. Players must register three distinct teams of three axies, with strict limits on part overlap and no axie used on more than one team or swapped after registration. Matches use a double-elimination bracket where an unbeaten finalist has a twice-to-beat advantage, and each match is first-to-3 meaning you must win once with each of your teams and cannot reuse a team that already won.
  3. Collectible tickets determine AXS rewards from a 10,000 AXS season pool; 21,574,095 tickets were issued, each worth 0.46351886 mAXS, and AXS will be sent to players' Ronin addresses in the coming weeks.

AIP-004 is LIVE on App.axie!

The Lunacian • 0 implied HN points • 09 Dec 25
đź”® Crypto Tokenomics
  1. AIP-004 would stake the Axie Treasury’s ~23M AXS and 96K RON to earn yield, creating a new revenue stream while slightly lowering staking APR for existing stakers because AXS staking emissions are capped.
  2. Voting for AIP-004 runs Dec 15–22, requires a 66% supermajority to pass, and vote delegation does not carry over so you must delegate again if you want to delegate for this proposal.
  3. Seven new badges were added for specific Axie bodies and land item rarities, and some Axie Score values were adjusted to give more points to Mystic holders with multiple Mystic parts.

Axie Classic Competitive Season 13 is LIVE!

The Lunacian • 0 implied HN points • 22 Jan 26
đź”® Crypto Tokenomics
  1. Season 13 of Axie Classic is live from Jan 22 to Feb 22, and players can compete for over 36,000 AXS across guild leaderboards, arena leaderboards, season champion prizes, guild milestones, and daily mini tournaments.
  2. The Free Battle Pass is back, letting players earn free gold, artifact copies, and up to 4,000 Dust just by playing.
  3. Competitive Circuit 2 now spans four seasons (S13–S16), removes the Guild Wars format, and lifts most previous bans except Maxcy/JDY; it will culminate in an 8-player Classic Champions Invitational with a 5,000 AXS prize pool.

Lunacian Lounge Episode 2 Recap

The Lunacian • 0 implied HN points • 19 Jan 26
đź”® Crypto Tokenomics
  1. bAXS is an account-bound, 1:1-backed app token you earn and stake but can’t trade, with reputation-based exit fees designed to reward real players and deter bots.
  2. 2026 is being treated as the “big swings” year where the team will make bold economic changes like emissions restructuring and aggressive Axie burn mechanics to fix the Treasury and address the 12M Axie oversupply.
  3. Atia’s Legacy is getting new 3D weapons and accessory rendering focused on Air and Ground items, bringing high-fidelity cosmetics and some light utility across Atia’s Legacy and Axie Core.

Uniswap Flips the Fee Switch: From Governance Token to Value Accrual

Coin Metrics' State of the Network • 0 implied HN points • 13 Jan 26
đź”® Crypto Tokenomics
  1. Uniswap turned on a fee switch that routes protocol fees into burning UNI, shifting the token from governance-only to one that directly accrues value through deflationary fee capture.
  2. Early data points to about $26M annualized protocol fees and roughly 4–5M UNI burned per year plus a 100M retroactive burn, which means UNI’s current market value embeds very strong growth expectations (around a ~207x revenue multiple).
  3. This change reflects a broader DeFi trend toward fee-linked token models (burns, staker payouts, vote-escrow) to better align holders with protocol economics, but ultimate value depends on fee capture, volume growth, LP incentives, and regulation.

Analyst Spotlight: Aave Overview

Coin Metrics' State of the Network • 0 implied HN points • 04 Mar 26
đź”® Crypto Tokenomics
  1. Aave uses conservative, asset-level risk controls like collateral rules, supply and borrow caps, and kinked interest-rate curves to reduce sudden liquidations and protect users.
  2. Revenue from Aave’s lending markets and the GHO stablecoin funds protocol development, security incentives, and AAVE token buybacks.
  3. Governance is driven by AAVE tokenholders, but development influence is split between the Aave DAO and Aave Labs, which raises questions about how fully decentralized control is.