Not really a to do the point answer, but tokenomics have both their material value and their symbolic one. The material is related to the revenue the tokens would bring, while the symbolic one also translates to capital. I think unit bias plays a big role, so a token split would be likely to have positive effects on the material value.
Price comes down to the interaction between supply and demand of token liquidity.
Tokenomics are based in the social constructs that the market participants have related to the token.
As to the symbolic value, I think that having a manifesto of sorts can help inspire and direct new community members. I dont have specific points for a manifesto, but I think that a methodology for a decentralised way of achieving that is by exactly actions like the one that banteg did - catalyzed community contributions so that they can be included into something which people can work their way up on agreeing.
Some of the ideological values of the manifesto are present in the decentralised nature of the space, but the manifesto itself can help bring an agenda to the table. That can too change along, but it’s more to start with and can give a general direction.
I remember when I was growing up that I would read the declaration of human rights for a MUN - and I thought that those are the kinds of standards that should exist, as I grew older I received a reality check as information became more available to me.
I personally think tokens could be used for way much more than just voting on how money is moved on chain - like giving small amounts of at the very least it could be used to run profitable businesses offchain.
And I also think that no one really knows what the heck they re on this planet for but I’m sure many would agree that helping others experience the cool life that many of us have is worthy of effort. Most say that it’s not their job, others, or the govt should do it, as they’re busy pursuing other stuff, like finding their own happiness.
So what is it? Communism token? Socialism token? Capitalism token? Make money at all costs to whatever resource in existence token? Happiness token? Nihilistic token? Delegate credit from YFI holdings to celebrities that YFI holders think are cool and would bring value? I don’t know.
I dont know how to do successful tokenomics, i would love to know what that would mean for people though - is that making the current holders the most money? For how long? Is that making the most people the most money? First holders the most? Is it changing the world currency into YFI? Turning into an overleveraging king to eat up the financial world? How about acting as a catalyst? Turning it into something stories are written about for millenia after us? What if we could deliver a little bit of YFI in the hands of every person born? How? I dont know, many ways, but my life not long.
Why do we have token besides paying bills and capturing value and somehow time in these magic hash bottles?
YFI could be used for funding vetted political candidates on platforms that include purchasing stablecoins for the municipiality, antibody research, or neural implants to get ourselves out of harm’s way sooner.
The best kind of tokens are those that change lives - and this changed mine about a year ago by getting me jumpstarted back into crypto. Now, the world is of course different forever cause of YFI and what it achieved so far - this timeline, in that regard, is pretty cool! How would I redesign the tokenomics of YFI before launch?
I would go out on discords and ask people what their short medium and end goals in life are, and then I would change the purpose of my tokenomics accordingly, based on how my priors got affected by the conversations I went through. Then, we’d write a decentralised manifesto and tie the currency to the values written in there. The infrastructure for communication and debating would be kind of relevant, so I would spend some time thinking about it, using logical dialogue schemes.
Yield farming on EVM chains would be a big part of YFI, but for long term consumer adoption it would probably be fitting to have values that new entrants can relate to and others can write about - i’d invest in “lore”, like the church and the nation states did.
TLDR: split token for unit bias, start the process of making a manifesto and tie tokenomics to it too